CNX Resources Q1 net income $710M but guidance slashed; gas price drop pressures 2023 outlook

CNX Resources Corp

2023-Q1 EPS reported $3.61 revenue$1,275,977,000

Diluted EPS $3.61 vs ($4.62) YoY, includes $762M unrealized derivative gain; adjusted free cash flow guidance cut to ~$250M from ~$375M.
Adjusted EBITDAX guidance reduced to $950M-$1.05B from $1.1B-$1.25B, citing lower NYMEX gas price assumptions ($2.76 vs $3.80).
Natural gas revenue fell to $456M from $745M YoY as avg realized price before hedging dropped to $2.52/Mcf from $4.76/Mcf.
Production guidance maintained at 555-575 Bcfe with 82-83% hedged; NGL price outlook unchanged at ~$21/bbl.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CNX Resources Corp reported financial results for first quarter 2023.

Period: first quarter 2023
Result: reported results

Exact text from the filing

CNX Resources Corporation (“CNX” or the “Company”) today released financial and operational results for the first quarter 2023 by posting those results on its website.

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36 earnings releases filed in the last 30 days. Browse all earnings releases →

CNX Resources Corp filing history →

Source: SEC EDGAR

accession 0001070412-23-000068

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