NYSE$CNR

Core Natural Resources Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

CONSOL Energy reported strong results for Q4 2019, driven by its contracting strategy and consistent operational performance, despite challenging market conditions.

CONSOL Energy Inc. reported financial and operating results for the fourth quarter ended December 31, 2019. The company achieved a GAAP net income of $17.4 million. Despite industry challenges, the PAMC maintained production and sales levels largely unchanged from the previous year, supported by a strong contracting strategy and well-capitalized asset base.

  • GAAP net income was $17.4 million.
  • Adjusted EBITDA was $92.1 million.
  • The PAMC produced 6.7 million tons of coal.
  • Net payments on total debt were $25.7 million.

Headline financials

Total Revenue

$304M

Previous: $348M-12.6%
EPS (adj)

$0.54

Previous: $1.41-61.7%
Capital Expenditures

$38.3M

Previous: $146M-73.7%
Free Cash Flow

-$16.9M

Previous: -$62.5M+73.0%
Net Income

$17.4M

Previous: $39.7M-56.1%
Operating Income

$22.2M

No prior period
Gross Profit

$281M

Previous: $319M-11.9%
Cash & Equivalents

$80.3M

Previous: $236M-65.9%
Total Assets

$2.69B

Previous: $2.76B-2.4%
Stock-Based Comp

-$589K

Previous: $2.6M-122.7%

Revenue & EPS history

CONSOL Energy · Revenue · Quarterly

$304M

Q4 2019-12.6%vs Q4 2018
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Forward guidance

Based on the company's current contracted position, estimated prices, and production plans, the following financial and operating performance guidance for 2020 is provided:

Tailwinds

  • Coal sales volumes (100% PAMC) - 24.5-26.5 million tons
  • Coal average revenue per ton sold - $43.00-$45.00
  • Average cash cost of coal sold per ton - $30.00-$31.50
  • CMT Adjusted EBITDA - $40-$45 million
  • Adjusted EBITDA (incl. 100% PAMC) - $295-$335 million

Headwinds

  • Capital expenditures (incl. 100% PAMC) - $125-$145 million

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 Q4 2019

Historical avgQ4 2019

+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

Earnings price reactions
QuarterReport dateReaction (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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