What’s in Store for CNX Resources in Q2 Earnings?
CNX Resources Corporation (NYSE: CNX) is scheduled to release second-quarter 2024 results on Jul 25, before market open. The company delivered an earnings surprise of 25% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
CNX Resources’ free cash flow generation and utilization of the same are likely to have continued to help repurchase shares and reduce debts in the second quarter.
The systematic buybacks during the quarter are expected to have boosted earnings per share. Ongoing debt reduction is likely to have resulted in decreased interest expenses.
The company’s bottom line is expected to have benefited from its decision to delay completion activities on three Marcellus Shale pads, consisting of 11 wells, due to the challenging near-term gas market conditions. CNX’s expects lower natural gas prices on unhedged volumes and curtailed production volumes to be largely offset by the deferral in capital activity and stronger NGL prices.
Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at 27 cents per share, indicating a year-over-year decrease of 6.9%. The Zacks Consensus Estimate for revenues is pinned …
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