CNX Resources Turns To Profit In Q3; Narrows FY Production Outlook - Quick Facts

(RTTNews) - CNX Resources Corp. (CNX) on Tuesday reported a profit for the third quarter on higher revenues.

Third-quarter net income attributable to CNX shareholders was $125 million or $0.59 per diluted share, compared to net loss of $26 million or $0.11 per share in the year-ago period.

Adjusted net income attributable to CNX shareholders was $35 million or $0.17 per share, compared to adjusted net loss of $41 million or $0.18 per share in the year-earlier quarter.

Total revenues and other operating income for the quarter grew to $397.13 million from $287.19 million in the year-ago period.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.20 per share on revenues of $373.24 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to 2018, CNX Resources noted that while the midpoint of its production guidance remains unchanged, it has narrowed the range to 497.5 to 507.5 Bcfe, compared to the previous guidance of 490 to 515 Bcfe.

CNX reaffirmed its full-year net capital expenditure guidance of $900 million to $950 million.