We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
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.
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
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.
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
CNX Resources Q4 Earnings Beat Estimates, Revenues Increase Y/Y
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-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.