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Consol Energy’s 4Q15 Earnings Missed Estimates

Consol Energy Beat 4Q15 Revenues Estimates, EPS Estimates Short

Consol Energy’s 4Q15 earnings missed estimates

Consol Energy (CNX) announced its 4Q15 earnings on January 29, 2016. CNX reported an adjusted loss of $0.11 per share, $0.02 worse than Wall Street analysts’ consensus for a loss of $0.09 per share.

CNX’s 4Q15 earnings are lower by $0.36 per share when compared with its 4Q14 profit of $0.25 per share. However, when compared sequentially with 3Q15, CNX’s 4Q15 earnings are higher by $0.17 per share.

CNX’s 4Q15 revenues beat estimates

For 4Q15, CNX reported adjusted revenues of ~$742 million, ~3% better than Wall Street analysts’ consensus for revenues of ~$719 million. CNX’s 4Q15 revenues are lower by ~18% when compared with 4Q14 revenues of ~$905 million. Even when compared sequentially with 3Q15, CNX’s 4Q15 revenues are lower by ~3%.

CNX’s earnings trend

As shown in the above chart, CNX has reported negative earnings since 2Q15 due to lower realized natural gas and coal prices. Since 1Q13, CNX has exceeded the earnings expectations ~33% of the time.

Due to the steep downward trend in energy prices, almost all S&P 500 (SPY) upstream companies are expected to report a year-over-year decline in their 4Q15 revenues. Southwestern Energy (SWN), EOG Resources (EOG), and Occidental Petroleum (OXY) are expected to report ~22%, ~49%, and ~33% year-over-year declines in their 4Q15 revenues, respectively.

CNX’s 2015 earnings miss but revenues beat estimates

For 2015, CNX reported an adjusted loss of $0.39 per share, $0.01 worse than Wall Street analyst consensus for a loss of $0.38 per share. CNX’s 2015 earnings are lower by $1.34 per share as compared with a 2014 profit of $0.95 per share.

For 2015, CNX reported adjusted revenues of ~$3.04 billion, ~1% better than Wall Street analyst consensus for revenues of ~$3 billion. CNX’s 2015 revenues are lower by ~17%, when compared with 2014 revenues of ~$3.68 billion.

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