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What's in Store for CNX Resources (CNX) in Q4 Earnings?

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CNX Resources Corporation (CNX - Free Report) is scheduled to release fourth-quarter 2023 results on Jan 25, before market open. The company delivered an earnings surprise of 34.6% in the last reported quarter.

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

Factors to Note

CNX Resources’ free cash flow generation and utilization of the same are likely to have helped repurchase shares and reduce debts in the fourth quarter. The systematic buybacks during the quarter are expected to have boosted earnings. Ongoing debt reduction is expected to have resulted in decreased interest expenses and improved bottom line in the to-be-reported quarter.

Stable production from Marcellus and Utica shales is likely to have enabled the company to increase its total production volume.

Q4 Expectations

The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 29 cents per share, indicating a year-over-year decrease of 82.3%. The consensus mark for revenues is pinned at $391.4 million, indicating a year-over-year decline of 5.9%.

The Zacks Consensus Estimate for total production volumes is pegged at 141.1 billion cubic feet equivalent, up 0.4% year over year.

The consensus estimate for average gas sales price is pinned at $2.47 per thousand cubic feet equivalent, up 50.6% sequentially. The consensus mark for average sales price of natural gas liquids is pegged at $18.13 per barrel, down 5.3% from that registered in the previous quarter. The Zacks Consensus Estimate for the average sales price of Oil/Condensate is pinned at $66.71 per barrel, down 0.8% from the previous quarter’s figure.

What the Zacks Model Unveils

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.
 

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: The company’s Earnings ESP is +6.17%. 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 may also consider the following players from the same sector as these too have the right combination of elements to post an earnings beat this reporting cycle.

Plains All American Pipeline (PAA - Free Report) is expected to post an earnings beat when it announces fourth-quarter results on Feb 9, before market open. It has an Earnings ESP of +6.12% and a Zacks Rank #3 at present.

The Zacks Consensus Estimate for PAA’s earnings is pegged at 37 cents per unit. The firm delivered an average earnings surprise of 18.3% in the last four quarters.

Energy Transfer (ET - Free Report) is likely to report an earnings beat when it announces fourth-quarter results on Feb 14, after market close. It has an Earnings ESP of +15.39% and a Zacks Rank #2 at present.

The Zacks Consensus Estimate for ET’s earnings is pegged at 29 cents per unit. The Zacks Consensus Estimate for sales is pinned at $23.6 billion, indicating a year-over-year increase of 15%.

ONEOK (OKE - Free Report) is likely to report an earnings beat when it announces fourth-quarter results on Feb 26, after market close. It has an Earnings ESP of +20.78% and a Zacks Rank #3 at present.

OKE’s long-term (three to five years) earnings growth rate is 7.64%. The company delivered an average earnings surprise of 6% in the last four quarters.

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

 

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