CNX Resources Q1 Earnings Beat Estimates, Revenues Increase Y/Y

CNX Resources Corporation CNX reported first-quarter 2025 operating earnings of 78 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 21.9%. The bottom line also increased 73.3% from 45 cents in the year-ago quarter. (See the Zacks Earnings Calendar to stay ahead of market-making news.)

CNX’s Revenues

The company reported revenues of $441 million, which missed the Zacks Consensus Estimate of $492 million by 10.4%. However, the top line increased 15.7% from the prior-year quarter’s $381 million.

Highlights of CNX’s Q1 Release

The average selling price in the quarter was $2.99 per thousand cubic feet equivalent (Mcfe), up 10.3% from the year-ago figure of $2.71. Total production cost was $1.68 per Mcfe, down 0.6% year over year.

Total production volumes were 147.8 billion cubic feet equivalent (Bcfe), up 5.3% year over year.

Interest expenses totaled $41.6 million, up 11.2% year over year.

During the first quarter, CNX Resources repurchased 4.2 million shares at an average price of $29.88 per share for a total cost of $125 million. Over the past 18 quarters, CNX repurchased approximately 38% of its outstanding shares.

CNX Resources’ adjusted net debt increased in the first quarter due to the Apex Energy acquisition.

CNX’s Financial Update

As of March 31, 2025, CNX Resources had cash and cash equivalents of $2.6 million compared with $17.2 million as of Dec. 31, 2024.

Long-term debt as of March 31, 2025, was $2.35 billion compared with $1.84 billion as of Dec. 31, 2024.

Cash from operating activities for the first quarter totaled $215.6 million compared with $185.1 million in the year-ago quarter. Free cash flow amounted to $100 million.

Capital expenditure for the quarter totaled $131.5 million compared with $168.2 million in the year-ago period.

CNX’s Guidance

CNX Resources expects 2025 total capital expenditure to be between $450 million and $500 million.

The company expects 2025 production volume to be in the band of 605-620 Bcfe.

Total free cash flow is expected to be $575 million.

CNX also expects 2025 adjusted EBITDAX to be in the range of $1.225-$1.275 billion.

CNX’s Zacks Rank

The company currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

ONEOK, Inc. OKE is slated to report first-quarter results on April. 29, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.23 per share, which indicates year-over-year growth of 12.8%.

OKE’s long-term (three to five years) earnings growth rate is 4.39%. The Zacks Consensus Estimate for 2025 earnings is pinned at $5.39 per share.

Energy Transfer ET is slated to report first-quarter results on May 6, after market close. The Zacks Consensus Estimate for earnings is pegged at 33 cents per unit, which indicates a year-over-year increase of 3.1%.

ET’s long-term earnings growth rate is 21.4%. The Zacks Consensus Estimate for 2025 earnings is pegged at $1.41 per unit, which indicates a year-over-year increase of 10.2%.

Devon Energy DVN is slated to report first-quarter results on May 6, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.25 per share.

DVN’s long-term (three to five years) earnings growth rate is 11.01%. The Zacks Consensus Estimate for first-quarter sales is pinned at $4.36 billion.

 

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