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.
Leo Mariani
ROTH MKM
4 questions for CNX
Also covers: APA, AR, CIVI +16 more
Zach Parham
JPMorgan Chase & Co.
4 questions for CNX
Also covers: CIVI, CRC, EXE +7 more
Jacob Roberts
TPH & Co.
3 questions for CNX
Also covers: BKV, CRK, EQT +3 more
Michael Scialla
Stephens Inc.
3 questions for CNX
Also covers: AESI, APA, CRC +10 more
Noah Hungness
Firm Not Mentioned in Transcript
3 questions for CNX
Also covers: CHRD, GPOR, GRNT +9 more
Bertrand Donnes
Truist Securities
2 questions for CNX
Also covers: APA, AR, BKV +7 more
Gabriel Daoud
Cowen
2 questions for CNX
Also covers: CHPT, CIVI, ENVX +6 more
Betty Jiang
Barclays
1 question for CNX
Also covers: APA, AR, BKV +14 more
David Deckelbaum
TD Cowen
1 question for CNX
Also covers: ALB, ALTM, APA +17 more
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
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 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
CNX Resources Announces New CEO
CNX
CEO Change
Management Change
CFO Change
- Alan Shepard will assume the role of President and Chief Executive Officer (CEO) of CNX Resources Corporation, effective January 1, 2026.
- Mr. Shepard will succeed Nick Deiuliis, who will retire from his CEO role at the end of 2025 after 35 years of service but will remain on the Board of Directors.
- Mr. Shepard has served as the company's Chief Financial Officer since June 2022 and President since June 2025.
- CNX Resources expects to name a new Chief Financial Officer by year end.
Sep 22, 2025, 10:45 AM
CNX Resources Corp Discusses Q2 2025 Results and Future Outlook
CNX
Earnings
Guidance Update
New Projects/Investments
- CNX Resources expects to be eligible to claim 45Z tax credits starting in 2025, with the first potential opportunity to realize a $30 million a year run rate in 2026, and the program extended through 2029.
- The company plans to maintain initial activity levels for the year, with no changes expected at the current time, leading to a sequential production decline in Q3 and Q4 2025, and CapEx being lighter in Q3 before picking up in Q4.
- CNX's Utica wells are performing within or slightly above expectations, with costs competitive with best-in-basin opportunities, and these wells will be included in future programs due to their competitive IRR.
- CNX is actively engaging in discussions regarding the AI opportunity and offering its RMG product as a sustainable energy solution for data centers, though they are in a "wait and see" mode before committing to long-term agreements.
Jul 25, 2025, 1:50 AM
Quarterly earnings call transcripts for CNX Resources.
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