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CNX Resources Q1 Earnings Surpass Estimates, Production Rises Y/Y
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Key Takeaways
CNX posted Q1 operating EPS of $1.21, topping estimates and rising 55.13% year over year.
CNX revenues climbed 63.72% to $722 million as production volumes increased 3.11% year over year.
CNX now expects 2026 free cash flow of $525 million and adjusted EBITDAX of up to $1.32 billion.
CNX Resources Corporation (CNX - Free Report) reported first-quarter 2026 operating earnings of $1.21 per share, which beat the Zacks Consensus Estimate of 93 cents by 30.11%. The bottom line increased 55.13% in the year-ago quarter.
CNX’s Revenues
The company reported revenues of $722 million, which topped the Zacks Consensus Estimate of $522 million by 38.31%. The top line rose 63.72% from the prior-year quarter’s $441 million.
CNX Resources Corporation. Price, Consensus and EPS Surprise
The average selling price in the quarter was $ 3.28 per thousand cubic feet equivalent (Mcfe), up 6.70% from the year-ago figure of $2.99. The total production cost was $1.72 per Mcfe, up 2.38% year over year.
Total production volumes were 152.4 billion cubic feet equivalent (Bcfe), up 3.11% year over year.
Interest expenses totaled $40.5 million, down 2.74% year over year figure of $41.6 million.
During the first quarter, CNX Resources repurchased 1.4 million shares at an average price of $37.32 per share for a total cost of $54 million. Over the past 22 quarters, CNX has incurred a total cost of $1.9 billion to repurchase nearly 99.5 million shares at an average price of $19.53 per share.
CNX’s Financial Update
As of March 31, 2026, CNX Resources had cash and cash equivalents of $3.75 million compared with $0.8 million as of Dec. 31, 2025.
Long-term debt as of March 31, 2026, was $2.16 billion compared with $2.21 billion as of Dec. 31, 2025.
Cash from operating activities for the first quarter of 2026 totaled $277.5 million compared with $215.7 million in the year-ago period. Free cash flow amounted to $132 million.
Capital expenditure for first-quarter 2026 totaled $169.9 million compared with $131.5 million in the year-ago period.
CNX’s Guidance
CNX Resources now expects total capital expenditure between $540 million and $570 million in 2026.
The company now expects 2026 production volume in the band of 605-620 Bcfe.
Total free cash flow is now expected to be $525 million.
CNX now expects 2026 adjusted EBITDAX in the range of $1.27-$1.32 billion
California Resources Corporation (CRC - Free Report) is scheduled to report first-quarter 2026 results on May 5. The Zacks Consensus Estimate for CRC’s first-quarter EPS is pegged at 83 cents, implying an decrease of 22.43% from the prior-year figure.
The Zacks Consensus Estimate for first-quarter sales is pinned at $902.27 million, which suggests a year-over-year fall of 1.07%.
Comstock Resources (CRK - Free Report) is scheduled to report first-quarter 2026 results on May 5. The Zacks Consensus Estimate for CRK's reported quarter EPS is pegged at 23 cents, which implies a year-over-year fall of 27.78%.
The Zacks Consensus Estimate for first-quarter sales is pinned at $505.22 million, which suggests a year-over-year decline of 1.49%.
Gulfport Energy (GPOR - Free Report) is scheduled to report first-quarter results on May 5. The Zacks Consensus Estimate for GPOR’s first-quarter EPS is pegged at $8.04, which indicates a year-over-year increase of 44.09%.
The Zacks Consensus Estimate for first-quarter sales is pegged at $400 million, which implies a year-over-year rise of 103.01%.
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CNX Resources Q1 Earnings Surpass Estimates, Production Rises Y/Y
Key Takeaways
CNX Resources Corporation (CNX - Free Report) reported first-quarter 2026 operating earnings of $1.21 per share, which beat the Zacks Consensus Estimate of 93 cents by 30.11%. The bottom line increased 55.13% in the year-ago quarter.
CNX’s Revenues
The company reported revenues of $722 million, which topped the Zacks Consensus Estimate of $522 million by 38.31%. The top line rose 63.72% from the prior-year quarter’s $441 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 Q1 Release
The average selling price in the quarter was $ 3.28 per thousand cubic feet equivalent (Mcfe), up 6.70% from the year-ago figure of $2.99. The total production cost was $1.72 per Mcfe, up 2.38% year over year.
Total production volumes were 152.4 billion cubic feet equivalent (Bcfe), up 3.11% year over year.
Interest expenses totaled $40.5 million, down 2.74% year over year figure of $41.6 million.
During the first quarter, CNX Resources repurchased 1.4 million shares at an average price of $37.32 per share for a total cost of $54 million. Over the past 22 quarters, CNX has incurred a total cost of $1.9 billion to repurchase nearly 99.5 million shares at an average price of $19.53 per share.
CNX’s Financial Update
As of March 31, 2026, CNX Resources had cash and cash equivalents of $3.75 million compared with $0.8 million as of Dec. 31, 2025.
Long-term debt as of March 31, 2026, was $2.16 billion compared with $2.21 billion as of Dec. 31, 2025.
Cash from operating activities for the first quarter of 2026 totaled $277.5 million compared with $215.7 million in the year-ago period. Free cash flow amounted to $132 million.
Capital expenditure for first-quarter 2026 totaled $169.9 million compared with $131.5 million in the year-ago period.
CNX’s Guidance
CNX Resources now expects total capital expenditure between $540 million and $570 million in 2026.
The company now expects 2026 production volume in the band of 605-620 Bcfe.
Total free cash flow is now expected to be $525 million.
CNX now expects 2026 adjusted EBITDAX in the range of $1.27-$1.32 billion
CNX’s Zacks Rank
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
California Resources Corporation (CRC - Free Report) is scheduled to report first-quarter 2026 results on May 5. The Zacks Consensus Estimate for CRC’s first-quarter EPS is pegged at 83 cents, implying an decrease of 22.43% from the prior-year figure.
The Zacks Consensus Estimate for first-quarter sales is pinned at $902.27 million, which suggests a year-over-year fall of 1.07%.
Comstock Resources (CRK - Free Report) is scheduled to report first-quarter 2026 results on May 5. The Zacks Consensus Estimate for CRK's reported quarter EPS is pegged at 23 cents, which implies a year-over-year fall of 27.78%.
The Zacks Consensus Estimate for first-quarter sales is pinned at $505.22 million, which suggests a year-over-year decline of 1.49%.
Gulfport Energy (GPOR - Free Report) is scheduled to report first-quarter results on May 5. The Zacks Consensus Estimate for GPOR’s first-quarter EPS is pegged at $8.04, which indicates a year-over-year increase of 44.09%.
The Zacks Consensus Estimate for first-quarter sales is pegged at $400 million, which implies a year-over-year rise of 103.01%.