CNX Resources Third Quarter 2024 Earnings: Beats Expectations

CNX Resources (NYSE:CNX) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$424.2m (up 40% from 3Q 2023).
• Net income: US$65.5m (up 207% from 3Q 2023).
• Profit margin: 15% (up from 7.1% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.44 (up from US$0.13 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

CNX Resources Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) also surpassed analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are up 6.1% from a week ago.

Risk Analysis

You should learn about the 3 warning signs we've spotted with CNX Resources (including 1 which is concerning).

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