CNX Resources Q1 EPS $0.04 vs $3.61 YoY; lowers 2024 production & EBITDAX guidance

CNX Resources Corp

2024-Q1 EPS reported $0.04 revenue$384,553,000

Q1 2024 net income $6.9M ($0.04 diluted EPS) vs $710M ($3.61) in Q1 2023; revenue from gas sales down 28% to $326M.
Adjusted EBITDAX guidance cut to $925M-$1,075M from $1,000M-$1,150M; production guidance lowered to 540-560 Bcfe from 570-590.
Capital expenditure reduced to $525M-$575M; NYMEX gas price assumption lowered to $2.34/MMBtu from $2.89.
Free cash flow guidance maintained at ~$300M (~$1.96 per share).
Realized natural gas price (incl hedging) $2.71/Mcfe vs $2.90 in Q1 2023; hedge book delivered $55M realized gain.

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 2024.

Period: first quarter 2024
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 2024 by posting those results on its website. A copy of those results is attached to this Current Report as Exhibit 99.1 and incorporated into this Item 2.02 by reference.

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Source: SEC EDGAR

accession 0001070412-24-000025

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