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How Did CONSOL Energy Perform in 3Q16?



CONSOL Energy misses 3Q16 EPS estimates

CONSOL Energy (CNX) announced its 3Q16 earnings on November 1, 2016, before the markets opened. CONSOL Energy reported an adjusted loss of $0.15 per share, $0.04 worse than the Wall Street analyst consensus for a loss of $0.11 per share.

CNX’s 3Q16 EPS (earnings per share) is higher by $0.13 per share when compared with a 3Q15 loss of $0.28 per share. Even when compared sequentially with 2Q16, CNX’s 3Q16 EPS is higher by $0.06 per share.

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CONSOL Energy’s 3Q16 revenues beat estimates

For 3Q16, CNX reported adjusted revenues of ~$571 million, ~2% better than Wall Street analyst consensus for revenues of ~$561 million. CNX’s 3Q16 revenues are lower by ~25% when compared with 3Q15 revenues of ~$766 million. But when compared sequentially with 2Q16, CNX’s 3Q16 revenues are higher by ~2%.

CONSOL Energy’s earnings trend

As seen in the above chart, CONSOL Energy has reported much lower EPS (earnings per share) since 3Q15 due to lower realized natural gas (UNG) prices. In 3Q15, CNX saw its adjusted earnings turn negative for the first time since 3Q13.

Since 2013, CNX has beat the earnings expectations ~33% of the time. Since 2013, other upstream players like Devon Energy (DVN), ConocoPhillips (COP), and Marathon Oil (MRO) have beat earnings expectations ~80%, ~67%, and ~60% of the times, respectively.

In this series

In the course of this series, we’ll also look at CONSOL Energy’s 3Q16 cash flow, operational performance, price forecasts using implied volatility, Wall Street analyst ratings, and the company’s stock price reactions to past earnings misses.

Now let’s take a look at how much CONSOL Energy generated in 3Q16.


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