CNX Resources Corp SEC 10-Q Report

CNX Resources Corp, a leading natural gas exploration and production company, has released its latest Form 10-Q report, showcasing significant improvements in both financial and operational performance. The report highlights the company's robust revenue growth, enhanced profitability, and strategic business developments, particularly in the Shale segment.

Financial Highlights

Total Revenue and Other Operating Income: CNX Resources Corp reported a total revenue and other operating income of $962.4 million, a substantial increase from $321.4 million in the prior year period. This growth was primarily driven by higher revenues from natural gas, NGLs, and oil.

Net Income: The company achieved a net income of $432.5 million, a remarkable turnaround from a net loss of $18.3 million in the prior year period, indicating a strong recovery and improved profitability.

Basic Earnings (Loss) per Share: Basic earnings per share were $3.02, compared to a loss of $0.12 per share in the prior year period, highlighting the company's improved earnings performance.

Diluted EPS: Diluted earnings per share were $2.53, compared to a loss of $0.12 per share in the prior year period, reflecting the company's enhanced financial performance.

Income (Loss) Before Income Tax: The company reported an income before income tax of $585.6 million, a substantial improvement from a loss of $15.2 million in the prior year period, driven by increased revenue and effective cost management.

Business Highlights

Revenue Segments: The Shale segment generated $451.6 million in natural gas, NGLs, and oil revenue for the three months ended June 30, 2025, while the Coalbed Methane segment contributed $33.2 million. The Other segment, which includes purchased gas activities and sales of environmental attributes, added $231,000.

Sales Units: For the six months ended June 30, 2025, the Shale segment produced 959,173 units of natural gas, NGLs, and oil, while the Coalbed Methane segment produced 76,458 units.

Geographical Performance: The company expanded its operations in the central Pennsylvania region through the acquisition of Apex Energy II, LLC, enhancing its Shale segment's undeveloped leasehold and infrastructure footprint.

New Production Launches: The acquisition of Apex Energy II, LLC, completed on January 27, 2025, provided CNX with additional oil and gas properties, wells, and well-related equipment, which are expected to support future development in the Shale segment.

Future Outlook: Management anticipates leveraging the existing infrastructure from the Apex acquisition for future development, which is expected to enhance operational efficiency and production capacity in the Shale segment.

SEC Filing: CNX Resources Corp [ CNX ] - 10-Q - Jul. 24, 2025