CNX Resources Corporation. (CNX) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, CNX Resources Corporation. (CNX) reported revenue of $337 million, down 28.8% over the same period last year. EPS came in at $0.29, compared to $0.61 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $400.81 million, representing a surprise of -15.92%. The company delivered an EPS surprise of +20.83%, with the consensus EPS estimate being $0.24.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CNX Resources Corporation. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Sales Price - NGLs - Gross Price: $19.08 versus the four-analyst average estimate of $21.14.
Average Daily Production: 1474.2 Mcfe/D versus the three-analyst average estimate of 1521.86 Mcfe/D.
Average Sales Price - Oil/Condensate - Gross Price: $63.42 compared to the $64.93 average estimate based on three analysts.
Total Production Volumes: 134.2 Bcfe compared to the 138.49 Bcfe average estimate based on three analysts.
Average gas sales price including effects of financial settlement from hedging (Realized Gas Price per Mcf): $2.44 compared to the $2.32 average estimate based on three analysts.
Natural Gas - Sales Volume: 124.21 MMcf compared to the 128.46 MMcf average estimate based on two analysts.
NGL - Sales Volume: 1610 MBBL versus 1619.34 MBBL estimated by two analysts on average.
Average Sales Price - Gas: $1.80 versus $1.89 estimated by two analysts on average.
Oil/Condensate - Sales Volume: 49 MBBL versus the two-analyst average estimate of 73.95 MBBL.
View all Key Company Metrics for CNX Resources Corporation. here>>>
Shares of CNX Resources Corporation. have returned +6.9% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CNX Resources Corporation. (CNX) : Free Stock Analysis Report
