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CNX Resources Q4 Earnings Beat Estimates, Revenues Increase Y/Y

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CNX Resources Corporation (CNX - Free Report) reported fourth-quarter 2024 operating earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 43 cents by 32.6%. However, the bottom line decreased 16.2% from 68 cents in the year-ago quarter.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

CNX’s Revenues

The company reported revenues of $386 million, which missed the Zacks Consensus Estimate of $411 million by 6.2%. However, the top line increased 2.7% from the prior-year quarter’s $376 million.

 

CNX Resources Corporation. Price, Consensus and EPS Surprise

CNX Resources Corporation. Price, Consensus and EPS Surprise

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

Highlights of CNX’s Q4 Release

The average selling price in the quarter was $2.72 per thousand cubic feet equivalent (Mcfe), up 5.8% from the year-ago figure of $2.57. Total production cost was $1.73 per Mcfe, up 9.5% year over year.

Total production volumes were 141.9 billion cubic feet equivalent (Bcfe), down 3.4% year over year.

Interest expenses totaled $36.6 million, down 1.8% year over year.

During the fourth quarter, CNX Resources repurchased 0.6 million shares at an average price of $34.87 per share for a total cost of $22 million. Over the past 17 quarters, CNX repurchased approximately 36% of its outstanding shares.

The company has reduced its adjusted net debt by $434 million since third-quarter 2020.

CNX’s Financial Update

As of Dec. 31, 2024, CNX Resources had cash and cash equivalents of $17.2 million compared with $0.4 million as of Dec. 31, 2023.

Long-term debt as of Dec. 31, 2024, was $1.84 billion compared with $1.89 billion recorded as of Dec. 31, 2023.

Cash from operating activities for the fourth quarter totaled $268.8 million compared with $161.1 million in the year-ago quarter. Free cash flow amounted to $199 million.

Capital expenditure for the quarter totaled $105.5 million compared with $107.7 million in the year-ago period.

CNX’s Guidance

CNX Resources announced its 2025 proforma total capital expenditure guidance between $450 million and $500 million.

The company expects its proforma 2025 production volume to be in the band of 605-620 Bcfe.

Total free cash flow is expected to be $575 million.

CNX also expects 2025 adjusted EBITDAX to be in the range of $1.225-$1.275 billion.

CNX’s Zacks Rank

The company currently has a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

Energy Transfer (ET - Free Report) is slated to report fourth-quarter results on Feb. 11, after market close. The Zacks Consensus Estimate for earnings is pegged at 36 cents per unit, which indicates a year-over-year decline of 2.7%.

ET’s long-term (three to five years) earnings growth rate is 26.18%. The firm delivered an average earnings surprise of 3.4% for the trailing four quarters.

Devon Energy (DVN - Free Report) is slated to report fourth-quarter results on Feb. 18, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.00 per share.

DVN’s long-term (three to five years) earnings growth rate is 6.6%. The Zacks Consensus Estimate for sales is pinned at $4.24 billion.

ONEOK, Inc. (OKE - Free Report) is slated to report fourth-quarter results on Feb. 24, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.46 per share, which indicates year-over-year growth of 23.7%.

OKE’s long-term earnings growth rate is 4.39%. The Zacks Consensus Estimate for 2024 earnings is pinned at $5.10 per share.

 

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