Quarterly ResultApr 30, 2026, 07:08 AM
CNX Q1 Net Income $348.1M; EPS $2.45; Lowers 2026 FCF Guidance
AI Summary
CNX Resources reported significantly improved financial results for Q1 2026, with net income reaching $348.1 million and basic EPS of $2.45, a substantial turnaround from a net loss in Q1 2025. Total revenue and other operating income also saw a massive increase. However, the company updated its 2026 guidance, lowering projections for Adjusted EBITDAX and Free Cash Flow.
Key Highlights
- Q1 2026 Net Income was $348.1 million, a significant improvement from a $197.7 million loss in Q1 2025.
- Basic Earnings Per Share (EPS) for Q1 2026 was $2.45, up from $(1.34) in Q1 2025.
- Total Revenue and Other Operating Income surged to $786.6 million in Q1 2026 from $82.4 million in Q1 2025.
- Q1 2026 Total Production Volumes were 152.4 Bcfe, a slight increase from 147.8 Bcfe in Q1 2025.
- Updated 2026 Adjusted EBITDAX guidance lowered to $1,265-$1,315 million from $1,310-$1,360 million.
- Updated 2026 Free Cash Flow (FCF) guidance lowered to ~$525 million from ~$550 million.
- Updated 2026 FCF Per Share guidance lowered to ~$3.41 from ~$3.55.
- Q1 2026 activity included 14 Marcellus wells drilled (TD) and 12 wells turned in line (TIL).