earnings
confidence high
sentiment negative
materiality 0.75
CNX Resources Q3 net loss $427M; guides FY22 EBITDA $1.3-1.375B, FCF ~$700M
CNX Resources Corp
2022-Q3 EPS reported
-$6.80
revenue$-375,619,000
- Net loss $427M ($2.28 diluted EPS) vs Q3 2021 loss $873M; gas revenue $1.127B up 92% YoY.
- Realized gas price after cash hedging $3.03/Mcf; cash settlement on derivatives loss $651M.
- Production 146.4 Bcfe (1,591 MMcfe/d); FY22 production guidance narrowed to 580-590 Bcfe.
- FY22 adjusted EBITDAX guided to $1.3-1.375B; capex $560-580M; FCF ~$700M ($3.88/share).
- Share repurchases totaled $138M in Q3 2022; common shares outstanding fell to 187.5M.