Earnings summaries and quarterly performance for CNX Resources.
Executive leadership at CNX Resources.
Board of directors at CNX Resources.
Research analysts who have asked questions during CNX Resources earnings calls.
LM
Leo Mariani
ROTH MKM
6 questions for CNX
Also covers: APA, AR, CIVI +16 more
Jacob Roberts
TPH & Co.
5 questions for CNX
Also covers: BKV, CRK, EQT +3 more
Michael Scialla
Stephens Inc.
5 questions for CNX
Also covers: AESI, APA, CRC +10 more
Zach Parham
JPMorgan Chase & Co.
4 questions for CNX
Also covers: CIVI, CRC, EXE +7 more
Betty Jiang
Barclays
3 questions for CNX
Also covers: APA, AR, BKV +15 more
NH
Noah Hungness
Firm Not Mentioned in Transcript
3 questions for CNX
Also covers: CHRD, GPOR, GRNT +9 more
BD
Bertrand Donnes
Truist Securities
2 questions for CNX
Also covers: APA, AR, BKV +7 more
GD
Gabriel Daoud
Cowen
2 questions for CNX
Also covers: CHPT, CIVI, ENVX +6 more
JB
Jeff Bellman
Daniel Energy Partners
2 questions for CNX
Also covers: NFG
Kalei Akamine
Bank of America
2 questions for CNX
Also covers: COP, CRC, CRK +9 more
DD
David Deckelbaum
TD Cowen
1 question for CNX
Also covers: ALB, ALTM, APA +17 more
JR
Jake Roberts
TPH&Co.
1 question for CNX
Also covers: CRK, EQT, GPOR +2 more
Kevin MacCurdy
Pickering Energy Partners
1 question for CNX
Also covers: AR, CHRD, COP +13 more
NK
Nitin Kumar
Mizuho Securities USA
1 question for CNX
Also covers: AR, BKV, COP +8 more
Recent press releases and 8-K filings for CNX.
CNX Reports Strong Q4 2025 Free Cash Flow and Announces New Share Repurchase Authorization
CNX
Earnings
Share Buyback
Guidance Update
- CNX reported Q4 2025 free cash flow of $132 million and full year 2025 free cash flow of $646 million, exceeding annual guidance.
- The company announced an additional $2 billion share repurchase authorization, with no expiration, increasing its total authorized capacity to $2.4 billion. In Q4 2025, CNX repurchased 2.9 million shares for $100 million.
- CNX reduced debt by $122 million by exchanging a portion of convertible notes for common stock.
- For 2026, the company projects Free Cash Flow of ~$550 million and Total Capital Expenditures between $556 million and $586 million.
7 days ago
CNX Resources Discusses Q4 2025 Results, 2026 Capital Allocation, Production, and Hedging Strategy
CNX
Guidance Update
New Projects/Investments
- CNX Resources anticipates first-half 2026 capital expenditures to be approximately 60% of the year's total, providing flexibility to potentially accelerate frac activity in the second half, while expecting a flat production profile throughout the year.
- The company's RNG business projects approximately $30 million annually from 45Z based on current production levels and initial proposed guidance.
- For 2027, CNX aims to be approximately 80% hedged at a weighted average NYMEX price of about $4, with over 60% already hedged.
- The deep Utica program is progressing, with five laterals expected to be completed in 2026 at an average drilling cost of about $1,700 per foot, and well performance is in line with expectations.
7 days ago
CNX Resources Discusses Q4 2025 Results and 2026 Outlook
CNX
Earnings
Guidance Update
New Projects/Investments
- CNX expects 60% of its 2026 capital expenditure to occur in the first half of the year, providing flexibility for potential frac activity acceleration in the second half, while maintaining a flat production profile for the year.
- The company projects its 45Z tax credit to generate approximately $30 million annually at current production levels, and the PA Tier 1 REC market remains stable.
- The 2026 Utica program involves 3 turn-in-lines and the completion of 5 Utica laterals, with drilling costs averaging $1,700 per foot and wells performing as expected. Any additional activity, like adding a frac crew, is not included in current Capex guidance and would depend on long-term demand.
- For 2027, CNX targets being approximately 80% hedged at a weighted average NYMEX price of about $4, and is currently over 60% hedged. The Southwest PA Marcellus inventory is estimated at 40,000-50,000 acres, providing a runway until the end of the decade.
7 days ago
CNX Resources Discusses Q4 2025 Results, 2026 Outlook, and Hedging Strategy
CNX
Earnings
Guidance Update
New Projects/Investments
- CNX Resources expects approximately 60% of its annual capital expenditure to be front-half weighted, enabling a flat production profile throughout 2026 and providing flexibility to accelerate frac activity in the second half.
- The company anticipates generating about $30 million annually from the 45Z outlook based on current production and initial guidance.
- For 2027, CNX aims to be approximately 80% hedged at a weighted average NYMEX price of around $4, having already hedged over 60%.
- The deep Utica program is progressing with 5 laterals expected to be completed in 2026 at an average drilling cost of $1,700 per foot, and the company holds a 40,000-50,000 acre inventory in its core Southwest PA Marcellus.
- CNX's strategy for increasing production is tied to long-term demand increases and new infrastructure, rather than short-term gas price movements.
7 days ago
CNX Resources Reports Q4 and Full-Year 2025 Results and Provides 2026 Guidance
CNX
Earnings
Guidance Update
Share Buyback
- For Q4 2025, CNX Resources reported net income of $196,253 thousand and diluted earnings per share of $1.28. For the full year 2025, net income was $633,162 thousand and diluted EPS was $3.98.
- Total revenue and other operating income for Q4 2025 reached $610,484 thousand, contributing to a full-year 2025 total of $2,239,134 thousand. The company generated Free Cash Flow of $132 million in Q4 2025 and $646 million for the full year 2025.
- For 2026, CNX Resources anticipates production volumes between 605 and 620 Bcfe, Adjusted EBITDAX in the range of $1,310 to $1,360 million, and total capital expenditures between $556 and $586 million. The company also projects Free Cash Flow of approximately $550 million, or ~$3.55 per share.
7 days ago
CNX Resources Discusses Q3 2025 Performance, Capital Allocation, and Utica Development
CNX
Earnings
Share Buyback
Management Change
- CNX Resources reported a sizable share buyback in Q3 2025, the highest since Q4 2022, driven by significant free cash flow generation and an attractive business valuation.
- The company acquired additional Utica rights in the Apex acreage, with a focus on operational efficiency that has already reduced Utica drilling costs by 20% from $2,200 to $1,750 per foot.
- Management reaffirmed its free cash flow guidance, expecting to reach approximately $575 million (excluding asset sales).
- Nick DeIuliis is retiring as CEO, and Alan Shepard is taking on a new role as President and CFO.
- CNX anticipates a $30 million per year run rate from the 45Z tax credit to be confirmed upon final rulemaking, expected by early H1 2026, and plans for a "maintenance mode" for production and spending in 2026.
Oct 30, 2025, 2:00 PM
CNX Resources Discusses Q3 2025 Results, Utica Development, and 2026 Outlook
CNX
Share Buyback
M&A
Guidance Update
- CNX Resources reported a sizable share buyback in Q3 2025, the highest since Q4 2022, driven by significant free cash flow generation and attractive business valuation.
- The company acquired remaining unleased Utica rights on its Apex acreage to leverage existing infrastructure. It has achieved a 20% reduction in Utica drilling costs, from $2,200 to $1,750 per foot, and plans to step up development focusing on operational efficiency.
- CNX expects to remain in "maintenance mode" for production and spending in 2026 and is confident in its $575 million free cash flow guidance (excluding asset sales) for the current year.
- Regarding the 45Z tax credit, the company anticipates final rulemaking before year-end, with its $30 million annual run rate guidance expected to be confirmed in early H1 2026.
Oct 30, 2025, 2:00 PM
CNX Reports Q3 2025 Free Cash Flow of $226 Million and Raises 2025 Guidance
CNX
Earnings
Share Buyback
Guidance Update
- CNX generated $226 million in Free Cash Flow (FCF) for Q3 2025, marking its 23rd consecutive quarter of positive FCF generation. This FCF included $68 million from asset sales.
- The company repurchased 6.1 million shares on the open market in Q3 2025 at an average price of $30.12 per share, for a total cost of $182 million. Since the inception of its buyback program in 2020, CNX has retired approximately 43% of its outstanding shares.
- CNX increased its 2025 Free Cash Flow (FCF) guidance to approximately $640 million, primarily driven by additional asset sales.
Oct 30, 2025, 2:00 PM
CNX Resources Discusses Q3 2025 Performance, Utica Development, and 2026 Outlook
CNX
Share Buyback
M&A
Guidance Update
- CNX Resources executed a sizable share buyback in Q3 2025, the highest since Q4 2022, driven by significant free cash flow generation.
- The company acquired the remaining unleased Utica rights underlying its Apex footprint and plans to develop this acreage, with drilling costs reduced by 20% to $1,750 per foot from $2,200 per foot last year.
- Management expects to remain in maintenance mode for production and spending in 2026, with full guidance to be provided in January.
- The company remains confident in its free cash flow guidance of $575 million (excluding asset sales) for the year. An update on 45Z is expected before year-end 2025, with guidance of a $30 million per year run rate anticipated to be confirmed in early H1 2026.
- Nick DeIuliis, Chief Executive Officer, announced his retirement.
Oct 30, 2025, 2:00 PM
CNX Resources Reports Q3 2025 Results and Updates Full-Year Guidance
CNX
Earnings
Guidance Update
Share Buyback
- CNX Resources Corporation reported net income of $202,103 thousand and diluted earnings per share of $1.21 for the third quarter of 2025.
- Total revenue and other operating income for Q3 2025 was $583,840 thousand, with an operating margin of 42%.
- The company generated $233,761 thousand in net cash from operating activities and incurred $75,544 thousand in capital expenditures during Q3 2025.
- CNX repurchased $182,374 thousand of common stock in Q3 2025.
- Updated full-year 2025 guidance includes production volumes of 620 - 625 Bcfe, Adjusted EBITDAX of $1,200 - $1,225 million, and Free Cash Flow of $640 million, with FCF per share of $4.75.
Oct 30, 2025, 10:58 AM
Quarterly earnings call transcripts for CNX Resources.
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