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CNX Resources (CNX) to Report Q2 Earnings: What's in Store?

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CNX Resources Corporation (CNX - Free Report) is scheduled to release second-quarter 2022 earnings on Jul 28, before market open. This exploration and production company delivered an average earnings surprise of 22.8% in the last four reported quarters.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors to Consider

CNX Resources’ earnings in the second quarter are likely to have benefited from lower shares outstanding, as the company has been opportunistically repurchasing shares from the open market. Stable production volumes from high-quality assets and high prices are expected to have boosted the company’s second-quarter performance.

CNX Resources utilized free cash flow to lower the outstanding debt level by more than $74 million in the first three months of 2022, which in turn is likely to have lowered capital servicing costs and aided margins, in the second quarter.

Expectations

The Zacks Consensus Estimate for second-quarter earnings per share stands at 79 cents, suggesting a 338.9% rise from the year-ago reported figure.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for CNX Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here as you will see below.

 

CNX Resources Corporation. Price and EPS Surprise

CNX Resources Corporation. Price and EPS Surprise

CNX Resources Corporation. price-eps-surprise | CNX Resources Corporation. Quote

Earnings ESP: CNX Resources has an Earnings ESP of -7.16%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: CNX Resources currently has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.

Range Resources Corporation (RRC - Free Report) is set to release second-quarter 2022 results on Jul 25. RRC has an Earnings ESP of +11.56% and sports a Zacks Rank #1.

The Zacks Consensus Estimate for 2022 earnings of Range Resources is $5.06 per share, which indicates growth of 150.5% from the prior-year period.

Continental Resources Inc. (CLR - Free Report) is set to release second-quarter 2022 results on Jul 28. CLR has an Earnings ESP of +1.48% and a Zacks Rank #2.

The Zacks Consensus Estimate for 2022 earnings of Continental Resources is $11.97 per share which indicates a 156.9% surge from the prior-year period.

Devon Energy Corporation (DVN - Free Report) is set to release second-quarter 2022 results on Aug 1.  DVN has an Earnings ESP of +4.9% and a Zacks Rank #2.

The Zacks Consensus Estimate for 2022 earnings of Devon Energy is $9.04 per share, which indicates 156.1% growth from the year-ago period.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.