---
schema_version: "secwatch.filing_event.v1"
accession: "0001070412-23-000068"
form_type: "8-K"
ticker: "CNX"
cik: "0001070412"
company_name: "CNX Resources Corp"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T08:02:49.249136+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001070412-23-000068
- form_type: 8-K
- ticker: CNX
- cik: 0001070412
- company_name: CNX Resources Corp
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1070412/000107041223000068/0001070412-23-000068-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1070412/000107041223000068/cnx-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001070412-23-000068
- JSON: https://secwatch.observer/filing/0001070412-23-000068.json
- Plain text: https://secwatch.observer/filing/0001070412-23-000068.txt

## Key facts
- Earnings Releases
  CNX Resources Corp reported financial results for first quarter 2023.
  - Period: first quarter 2023
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1070412/000107041223000068/0001070412-23-000068-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.