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CNX Resources (CNX) to Report Q4 Earnings: What to Expect
CNX Resources (CNX - Free Report) is scheduled to release its fourth quarter 2022 financial results on Jan 26, before market open. The company reported third-quarter 2022 adjusted loss of 54 cents per share, which missed the Zacks Consensus Estimate of earnings of 72 cents by 175%.
Factors to Consider
CNX Resources' significant free cash flow generation, utilized to repurchase shares and pay down its debt, is likely to have increased its fourth-quarter earnings.
Stable production volumes from Marcellus and Utica shales are likely to have aided the company to meet its production guidance for 2022. Its Appalachia First plan is likely to have assisted in utilizing locally available natural gas and displacing foreign imports of natural gas.
The Zacks Consensus Estimate for its fourth-quarter earnings is pegged at 60 cents per share, implying a year-over-year increase of 93.55%.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $490.2 million, indicating a year-over-year increase of 9.41%.
Quantitative Model Predicts
Our proven model predicts 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 odds of an earnings beat, which is the case here as you will see below.
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 +17.65%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, CNX Resources carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Investors can consider the following players from the same sector that also have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Chevron (CVX - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter results on Jan 27, before market open. It has an Earnings ESP of +1.67% and a Zacks Rank #3, at present.
Viper Energy Partners (VNOM - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter results on Feb 21, after market close. It has an Earnings ESP of +17.82% and a Zacks Rank #2, at present.
California Resources (CRC - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter results on Feb 23, after market close. It has an Earnings ESP of +41.04% and a Zacks Rank #3, at present.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.