Canonsburg, PA based CONSOL Energy Inc., CNX is a multi-fuel energy producer and an energy services provider, primarily catering to the U.S. power producers. The company principally operates two business lines: Coal and Natural Gas.
CONSOL Energy’s increasing focus on natural gas, along with its remaining coal operation, will help it to survive difficult industry fundamentals even when some of its coal-focused peers are going bankrupt. CONSOL is also assiduously lowering its costs and expects more cost saves in the future
Last year, CONSOL Energy formed a coal MLP, CNX Coal Resources CNXC to concentrate more on E&P activities. These modifications will benefit the company in the long term with separate management teams assigned to run each of the businesses. CONSOL Energy’s focus on expanding its gas operations is yielding positive results.
Estimate Trend & Surprise History
Investors should note that the third quarter Zacks Consensus Estimate for loss of 11 cents per share has narrowed by a penny over the last 60 days.
Coming to the earnings surprise, CONSOL Energy has lagged the Zacks Consensus Estimate in three of the last four quarters, resulting in a negative average surprise of 355.33%.
Zacks Rank: Currently, CONSOL Energy has a Zacks Rank#3 (Hold) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
We have highlighted some of the key details from the just-released announcement below:
Earnings: Adjusted loss per share came in at 15 cents, wider than the Zacks Consensus Estimate of a loss of 11 cents.
Revenue: Revenues in third quarter were above expectation. CONSOL’s total revenues of $745.6 million were higher than the Zacks Consensus Estimate of $573 million by 30.1%.
Key Stats: CONSOL Energy registered a 12% year-over-year increase in third quarter 2016 gas production volumes to 96.4 Bcfe.
Stock Price: It would be interesting to see how the market reacts to the wider than expected loss during the trading session today.
Check back later for our full write up on this CNX earnings report later!
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