CNX Resources Corporation. (CNX) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
CNX Resources Corporation. (CNX) reported $357 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 25%. EPS of $0.35 for the same period compares to -$0.54 a year ago.
The reported revenue represents a surprise of -7.87% over the Zacks Consensus Estimate of $387.49 million. With the consensus EPS estimate being $0.26, the EPS surprise was +34.62%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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 gas sales price including effects of financial settlement from hedging (Realized Gas Price per Mcf): $2.41 versus $2.35 estimated by three analysts on average.
Average Daily Production: 1,559 Mcfe/D versus 1,525.58 Mcfe/D estimated by three analysts on average.
Total Production Volumes: 143.4 Bcfe versus the three-analyst average estimate of 140.36 Bcfe.
Average Sales Price - Gas: $1.64 versus the two-analyst average estimate of $1.52.
View all Key Company Metrics for CNX Resources Corporation. here>>>
Shares of CNX Resources Corporation. have returned +3.5% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with 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
