secwatch.observer — SEC 8-K summary
======================================

Issuer:     CNX Resources Corp (CNX)
CIK:        0001070412
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001070412-24-000025
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070412/000107041224000025/0001070412-24-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070412/000107041224000025/cnx-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001070412-24-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer