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CNX Resources (CNX) to Report Q3 Earnings: What's in Store?

Zacks Equity Research

CNX Resources Corporation CNX is slated to report third-quarter 2019 financial results on Oct 29, before the opening bell. The company recorded break-even earnings in the last reported quarter.

Factors to Consider

CNX Resources expects a decline in gas production volume growth during the third quarter of 2019.

Its ongoing share repurchases and the resultant drop in shares outstanding are anticipated to have had a positive impact on third-quarter earnings.

The Zacks Consensus Estimate for third-quarter gas sales volume is pegged at 127 billion cubic feet equivalent, indicating year-over-year growth of 6.7%.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for CNX Resources this time around. The combination of a positive Earnings ESP  (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.

CNX Resources Corporation. Price and EPS Surprise

CNX Resources Corporation. Price and EPS Surprise

CNX Resources Corporation. price-eps-surprise | CNX Resources Corporation. Quote

Earnings ESP: The company’s Earnings ESP is -38.30%.
 
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: CNX Resources has a Zacks Rank #3.
 
Stocks With Favorable Combination

One can consider some companies from the same industry that have the right combination of elements to post an earnings beat in their upcoming quarterly releases.

Gulfport Energy Corporation GPOR is slated to release third-quarter results on Oct 31. It has an Earnings ESP of +3.40% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Pioneer Natural Resources Company PXD is scheduled to announce third-quarter results on Nov 4. It has an Earnings ESP of +1.47% and a Zacks Rank #3.
 
Northern Oil and Gas, Inc. NOG is set to release third-quarter results on Nov 14. It has an Earnings ESP of +23.53% and a Zacks Rank #3.

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CNX Resources Corporation. (CNX) : Free Stock Analysis Report
 
Gulfport Energy Corporation (GPOR) : Free Stock Analysis Report
 
Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report
 
Northern Oil and Gas, Inc. (NOG) : Free Stock Analysis Report
 
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