CNX reports Q2 net loss of $18.3M; revenue down on lower gas prices

CNX Resources Corp

2024-Q2 EPS reported -$0.07 revenue$705,995,000

Net loss of $18.3M (diluted EPS -$0.12) vs net income of $475.0M in Q2 2023; adjusted EBITDAX guided $950M-$1,050M.
Total production 134.0 Bcfe (down 4% from Q1); avg daily production 1,473 MMcfe.
Realized natural gas price incl. cash hedges $2.58/Mcfe, down from $2.71/Mcfe in Q1.
2024 production guidance narrowed to 545-555 Bcfe; free cash flow guidance ~$300M, FCF per share ~$1.98.
Capital expenditures unchanged at $525-$575M; D&C $380-$400M.

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