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CONSOL Energy (CEIX) Q4 Earnings & Revenues Beat Estimates
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CONSOL Energy Inc. (CEIX - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.41 per share, which beat the Zacks Consensus Estimate of 76 cents by 85.5%. Moreover, the bottom line increased year over year by 33%.
Revenues
CONSOL Energy’s generated revenues worth $382 million, which beat the Zacks Consensus Estimate of $352 million by 8.5%. Top line also improved 8.5% year over year.
Consol Energy Inc. Price, Consensus and EPS Surprise
Average revenues per ton sold in the quarter were $49.81, up 7.4% from the year-ago quarter’s figure of $46.36. The year-over-year improvement can be attributed to stronger pricing on export sales and domestic netback contracts.
Average cash cost of coal sales per ton in the reported quarter was $30.54, higher than the year-ago quarter’s figure of $27.30. The increase was caused by surge in subsidence expense and higher mine maintenance spending in the quarter under review.
Total cost of coal sold was $335.9 million, up 7.5% from $312.5 million in the prior-year quarter.
Interest expenses were $20.4 million, up 42.6% from $14.3 million in the year-ago quarter.
Financial Update
As of Dec 31, 2018, CONSOL Energy had cash of $235.7 million, up from $154 million as of Dec 31, 2017.
Total long-term debt as of Dec 31, 2018 was $734.2 million, lower than $865.3 million as of Dec 31, 2017.
Cash from operating activities in 2018 was $413.5 million, up from $248.1 million in 2017.
Capital expenditure in 2018 was $145.7 million, higher than $81.4 million in 2017.
Guidance
CONSOL Energy expects coal sales volume (100% PAMC) for 2019 in the range of 26.8-27.8 million tons. Also, average revenue per ton sold is expected in the band of $47.70-$49.70.
Adjusted EBITDA is estimated within $380-$440 million. Capital expenditures are anticipated to within $135-$155 million.
Zacks Rank
CONSOL Energy currently carries a Zacks Rank #4 (Sell).
Alliance Resource Partners, L.P. (ARLP - Free Report) delivered fourth-quarter 2018 operating earnings of 69 cents per unit, missing the Zacks Consensus Estimate of 74 cents by 6.8%.
Peabody Energy Corporation (BTU - Free Report) posted fourth-quarter 2018 operating earnings of 88 cents per share, beating the Zacks Consensus Estimate of 68 cents by 29.41%.
CONSOL Coal Resources LP posted fourth-quarter 2018 operating earnings of 59 cents per unit, beating the Zacks Consensus Estimate of 49 cents by 22.92%.
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CONSOL Energy (CEIX) Q4 Earnings & Revenues Beat Estimates
CONSOL Energy Inc. (CEIX - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.41 per share, which beat the Zacks Consensus Estimate of 76 cents by 85.5%. Moreover, the bottom line increased year over year by 33%.
Revenues
CONSOL Energy’s generated revenues worth $382 million, which beat the Zacks Consensus Estimate of $352 million by 8.5%. Top line also improved 8.5% year over year.
Consol Energy Inc. Price, Consensus and EPS Surprise
Consol Energy Inc. Price, Consensus and EPS Surprise | Consol Energy Inc. Quote
Operational Highlights
Average revenues per ton sold in the quarter were $49.81, up 7.4% from the year-ago quarter’s figure of $46.36. The year-over-year improvement can be attributed to stronger pricing on export sales and domestic netback contracts.
Average cash cost of coal sales per ton in the reported quarter was $30.54, higher than the year-ago quarter’s figure of $27.30. The increase was caused by surge in subsidence expense and higher mine maintenance spending in the quarter under review.
Total cost of coal sold was $335.9 million, up 7.5% from $312.5 million in the prior-year quarter.
Interest expenses were $20.4 million, up 42.6% from $14.3 million in the year-ago quarter.
Financial Update
As of Dec 31, 2018, CONSOL Energy had cash of $235.7 million, up from $154 million as of Dec 31, 2017.
Total long-term debt as of Dec 31, 2018 was $734.2 million, lower than $865.3 million as of Dec 31, 2017.
Cash from operating activities in 2018 was $413.5 million, up from $248.1 million in 2017.
Capital expenditure in 2018 was $145.7 million, higher than $81.4 million in 2017.
Guidance
CONSOL Energy expects coal sales volume (100% PAMC) for 2019 in the range of 26.8-27.8 million tons. Also, average revenue per ton sold is expected in the band of $47.70-$49.70.
Adjusted EBITDA is estimated within $380-$440 million. Capital expenditures are anticipated to within $135-$155 million.
Zacks Rank
CONSOL Energy currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Coal Releases
Alliance Resource Partners, L.P. (ARLP - Free Report) delivered fourth-quarter 2018 operating earnings of 69 cents per unit, missing the Zacks Consensus Estimate of 74 cents by 6.8%.
Peabody Energy Corporation (BTU - Free Report) posted fourth-quarter 2018 operating earnings of 88 cents per share, beating the Zacks Consensus Estimate of 68 cents by 29.41%.
CONSOL Coal Resources LP posted fourth-quarter 2018 operating earnings of 59 cents per unit, beating the Zacks Consensus Estimate of 49 cents by 22.92%.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
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