NYSE$CNR
Core Natural Resources Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
CONSOL Energy reported strong first quarter results driven by high production and strategic export market pivot.
CONSOL Energy Inc. reported a strong first quarter in 2023, marked by a GAAP net income of $230.4 million and free cash flow of $220.8 million. The company strategically pivoted to export markets, achieving record throughput at the CONSOL Marine Terminal and increasing shareholder returns.
- GAAP net income reached $230.4 million.
- Free cash flow totaled $220.8 million.
- Shareholder returns increased to approximately 75% of quarterly free cash flow beginning in 2Q23, pivoting toward share buybacks.
- CONSOL Marine Terminal achieved a record quarterly throughput volume of 4.6 million tons.
Headline financials
Revenue & EPS history
CONSOL Energy · Revenue · Quarterly
$689M
Forward guidance
CONSOL Energy provided its financial and operating performance guidance for the full fiscal year 2023 based on its contracted position, estimated prices, and production plans.
Tailwinds
- Targeted PAMC coal sales volume of 25.0-27.0 million tons.
- PAMC average realized coal revenue per ton sold expectation of $76.00-$81.00.
- Itmann Mining Complex production volume of 400-600 thousand tons.
- Increased shareholder return allocation to approximately 75% of quarterly free cash flow.
- Expects to aggressively reduce gross debt with the goal of retiring its Term Loan B and Senior Secured Second Lien Notes in the coming quarters.
Headwinds
- PAMC average cash cost of coal sold per ton expectation of $34.00-$36.00.
- Unable to provide a reconciliation of Average Realized Coal Revenue per Ton Sold and Average Cash Cost of Coal Sold per Ton guidance.
- Forward-looking statements are subject to significant business, economic, competitive, regulatory and other risks.
- The company's estimates are based on current expectations and assumptions about future events.
- Actual results could differ materially from results projected in the forward-looking statements.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+1.3%
Avg return
Earnings day
+3.2%
Avg return
5 days after
+7.9%
Avg return
30 days after
45%
15 / 33 earnings
Positive
+24.7%
Q1 2018
Best reaction
-27.1%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.4% | -2.2% | +6.2% | |
| Q4 2025 | -2.8% | -6.5% | +6.7% | |
| Q3 2025 | -3.5% | -7.1% | +3.2% | |
| Q1 2025 | -10.1% | -0.6% | -10.9% | |
| Q4 2024 | +5.4% | -4.3% | -5.6% | |
| Q3 2024 | +17.6% | +18.5% | +15.4% | |
| Q2 2024 | +8.6% | +8.1% | +3.3% | |
| Q1 2024 | +2.7% | +3.6% | +19.6% | |
| Q4 2023 | -8.7% | -9.1% | +3.3% | |
| Q3 2023 | -5.6% | -4.3% | +4.4% | |
| Q2 2023 | +14.6% | +9.6% | +25.0% | |
| Q1 2023 | +1.1% | +4.0% | -8.0% | |
| Q4 2022 | -5.0% | -2.7% | -0.7% | |
| Q3 2022 | -0.3% | +5.9% | +15.7% | |
| Q2 2022 | +7.5% | +11.4% | +26.2% | |
| Q1 2022 | +8.8% | +16.3% | +22.1% | |
| Q4 2021 | +20.6% | +30.4% | +49.6% | |
| Q3 2021 | -15.5% | -15.7% | -23.1% | |
| Q2 2021 | -1.8% | +7.7% | +17.9% | |
| Q1 2021 | +21.1% | +35.2% | +70.3% | |
| Q4 2020 | -3.5% | +4.9% | +13.4% | |
| Q3 2020 | +7.4% | +18.1% | +52.4% | |
| Q2 2020 | +8.3% | +7.1% | -13.1% | |
| Q1 2020 | -1.8% | -16.9% | +23.7% | |
| Q4 2019 | -27.1% | -26.5% | -53.2% | |
| Q3 2019 | -6.7% | -4.9% | -8.2% | |
| Q2 2019 | -5.0% | -7.1% | -13.2% | |
| Q1 2019 | -3.9% | -6.9% | -16.6% | |
| Q4 2018 | -4.3% | -1.4% | -3.0% | |
| Q3 2018 | -4.1% | +2.7% | -13.8% | |
| Q2 2018 | +7.6% | +8.2% | +3.2% | |
| Q1 2018 | +24.7% | +34.1% | +45.8% | |
| Q4 2017 | -4.0% | -5.3% | +1.4% | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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