The EPS beat is driven by derivative gains, not operational strength. Watch for the Q&A call for color on revenue trajectory and whether hedging gains can recur. The raised FCF per share target supports the buyback thesis, but the underlying revenue decline warrants caution.
Price Chart
Executive Summary
CNX Resources reported Q2 2026 GAAP EPS of $0.72, beating consensus of $0.55 by 30.4%, driven primarily by a $176M gain on commodity derivatives. However, core natural gas, NGL and oil revenue declined to $389M from $485M year-over-year, and the company maintained its full-year Adjusted EBITDAX guidance. The combination of a headline EPS beat and declining operational revenue creates a mixed outlook.
Key Financial Metrics
Key Facts
- GAAP diluted EPS $0.72 vs consensus $0.55 (30.4% beat)
- Natural gas, NGL and oil revenue fell to $389M from $485M YoY (~20% decline)
- Full-year 2026 Adjusted EBITDAX guidance maintained at $1.265-$1.315B
- FCF per share forecast raised to $3.55 from $3.41
- Q2 2026 share repurchases totaled $200M
Financial Impact
EPS beat by $0.17 per share, but core revenue declined ~20% YoY; the EPS beat is largely non-cash hedging gains
Risk Factors
- Core revenue decline may persist if natural gas prices remain low
- EPS beat is non-cash and not repeatable without continued hedging gains
- Guidance maintained but not raised on EBITDAX, limiting upside momentum
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302837869 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 30, 2026 9w ago | 8-K | $34.61 $36.11 | ▲ +4.33% | ▲ +0.37% | $31.50 (−8.99%) |
Jul 30, 2026 9w ago | Press Release | $34.61 $36.11 | ▲ +4.33% | ▲ +0.37% | $31.50 (−8.99%) |
Mar 26, 2026 27w ago | DEFA14A | $40.58 $38.52 | ▼ −5.08% | ▼ −17.82% | $31.50 (−22.38%) |
Mar 26, 2026 27w ago | DEFA14A | $40.58 $38.52 | ▼ −5.08% | ▼ −17.82% | $31.50 (−22.38%) |
Feb 24, 2026 31w ago | 8-K | $38.74 $40.38 | ▲ +4.23% | ▲ +9.47% | $31.50 (−18.69%) |
US Market Status
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