CNX Resources: 2Q Earnings Snapshot
CANONSBURG, Pa. (AP) _ CNX Resources Corp. (CNX) on Thursday reported second-quarter net income of $42 million.
The Canonsburg, Pennsylvania-based company said it had net income of 19 cents per share. Earnings, adjusted for non-recurring costs, came to 42 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The natural gas company posted revenue of $402.1 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $382.6 million.
CNX Resources shares have risen 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 5 percent. The stock has declined 9 percent in the last 12 months.