---
title: "CNX Resources | 8-K: FY2026 Q1 Revenue: USD 786.65 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284753946.md"
datetime: "2026-04-30T11:06:29.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284753946.md)
  - [en](https://longbridge.com/en/news/284753946.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284753946.md)
---

# CNX Resources | 8-K: FY2026 Q1 Revenue: USD 786.65 M

Revenue: As of FY2026 Q1, the actual value is USD 786.65 M.

EPS: As of FY2026 Q1, the actual value is USD 2.18, beating the estimate of USD 0.9681.

EBIT: As of FY2026 Q1, the actual value is USD 468.88 M.

### Q1-2026 Financial and Operational Highlights for CNX Resources Corporation

#### Revenue and Income

-   Natural Gas, NGL and Oil Revenue was $722,044 thousand .
-   Gain on Commodity Derivative Instruments was $3,981 thousand .
-   Purchased Gas Revenue was $12,687 thousand .
-   Other Revenue and Operating Income was $47,942 thousand .
-   Total Revenue and Other Operating Income reached $786,654 thousand .
-   Net Income for the quarter was $348,147 thousand .
-   Earnings Before Income Tax amounted to $428,405 thousand .

#### Operating Costs and Expenses

-   Lease Operating Expense was $21,770 thousand .
-   Transportation, Gathering and Compression costs were $102,401 thousand .
-   Production, Ad Valorem, and Other Fees totaled $8,789 thousand .
-   Depreciation, Depletion and Amortization was $134,613 thousand .
-   Exploration and Production Related Other Costs were $4,177 thousand .
-   Purchased Gas Costs amounted to $12,253 thousand .
-   Selling, General, and Administrative Costs were $32,245 thousand .
-   Other Operating Income was - $4,622 thousand .
-   Total Operating Expense was $311,626 thousand .
-   Total Costs and Expenses were $358,249 thousand .

#### Other Expenses

-   Other Expense was $509 thousand .
-   Gain on Asset Sales and Abandonments, net, was - $6,365 thousand .
-   Loss on Debt Extinguishment was $12,009 thousand .
-   Interest Expense was $40,470 thousand .
-   Total Other Expense (Income) was $46,623 thousand .
-   Income Tax Expense was $80,258 thousand .

#### Production Volumes

-   Shale Sales Volumes were 129.8 Bcf .
-   CBM Sales Volumes were 9.1 Bcf .
-   Other Sales Volumes were 0.1 Bcf .
-   NGLs Sales Volumes were 13.1 Bcfe .
-   Oil and Condensate Sales Volumes were 0.3 Bcfe .
-   Total Sales Volumes reached 152.4 Bcfe .
-   Average Daily Production was 1,693.0 MMcfe .

#### Activity Summary (Q1 2026)

-   14 wells were TD (Total Depth) in SWPA Marcellus .
-   3 wells were Frac (Fractured) in SWPA Marcellus and 3 wells in CPA Utica .
-   6 wells were TIL (Turned in Line) in SWPA Marcellus, 3 in CPA Marcellus, and 3 in CPA Utica .
-   Total wells TD were 14, total wells Frac were 6, and total wells TIL were 12 .
-   1 rig was active at period end in CPA Utica .

#### Cash Flow

-   Net Cash Provided by Operating Activities was $277,513 thousand .
-   Capital Expenditures were - $169,906 thousand .
-   Proceeds from Asset Sales were $32,428 thousand .
-   Investments in Equity Affiliates were - $565 thousand .

#### Free Cash Flow

-   Free Cash Flow for Q1-2026 was $139 million .
-   Free Cash Flow for YTD-2025 was $646 million .
-   Free Cash Flow for YTD-2024 was $331 million .
-   Free Cash Flow for YTD-2023 was $305 million .
-   Free Cash Flow for YTD-2022 was $707 million .
-   Free Cash Flow for YTD-2021 was $506 million .
-   Free Cash Flow for YTD-2020 was $356 million .

#### Balance Sheet (As of March 31, 2026)

-   Cash and Cash Equivalents were $3,748 thousand .
-   Total Current Assets amounted to $458,332 thousand .
-   Total Property, Plant and Equipment—Net was $7,912,129 thousand .
-   Total Other Non-Current Assets were $760,722 thousand .
-   TOTAL ASSETS were $9,131,183 thousand .
-   Total Current Liabilities were $927,749 thousand .
-   Total Non-Current Liabilities were $3,576,854 thousand .
-   TOTAL LIABILITIES were $4,504,603 thousand .
-   TOTAL STOCKHOLDERS’ EQUITY was $4,626,580 thousand .
-   TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY matched TOTAL ASSETS at $9,131,183 thousand .

#### Price and Cost Data (Per Mcfe) - Q1-2026

-   Average Sales Price - Natural Gas was $4.74 .
-   Average Gain (Loss) on Natural Gas Commodity Derivative Instruments - Cash Settlement was - $1.59 .
-   Average Sales Price - Oil and Condensate was $9.68 .
-   Average Sales Price - NGLs was $4.59 .
-   Average Sales Price of Natural Gas, NGL and Oil, including Cash Settlement, was $3.28 .
-   Lease Operating Expense (LOE) was $0.14 .
-   Production, Ad Valorem, and Other Fees were $0.06 .
-   Transportation, Gathering and Compression was $0.67 .
-   Depreciation, Depletion and Amortization (DD&A) was $0.85 .
-   Total Natural Gas, NGL and Oil Production Costs were $1.72 .
-   Total Natural Gas, NGL and Oil Production Cash Costs, before DD&A, were $0.87 .
-   Natural Gas, NGL and Oil Production Cash Margin, before DD&A, was $2.41 .
-   Fully Burdened Cash Costs, before DD&A, were $0.95 .
-   Fully Burdened Cash Margin, before DD&A, was $2.33 .

#### Non-GAAP Measures (Q1-2026)

-   Sales of Natural Gas, NGL and Oil, including Cash Settlements, were $500 million .
-   Natural Gas, NGL and Oil Production Costs were $262 million .
-   Earnings Before Interest & Taxes (EBIT) were $469 million .
-   Earnings Before Interest, Taxes, DD&A and Exploration (EBITDAX) were $608 million .
-   Adjusted EBITDAX was $400 million .
-   Adjusted Net Income was $193 million .
-   Operating Margin was 43% .
-   Cash Operating Margin was 71% .
-   Net Debt as of March 31, 2026, was $2,361 million .
-   Adjusted Net Debt as of March 31, 2026, was $2,361 million .
-   Adjusted EBITDAX TTM (Twelve Months Ended March 31, 2026) was $1,322 million .

#### Hedging Gain/Loss Projections and Actuals

-   Forecasted Gain/(Loss) as of April 15, 2026:
    -   Q2 2026: Total Projected Realized Gain of $48,576 thousand .
    -   CY2026: Total Projected Realized Loss of - $193,177 thousand .
-   Actual Change in Derivatives (Dollars in millions):
    -   Q1-2026: Realized Loss of - $222 million, Unrealized Gain of $226 million, resulting in a Total Gain on Commodity Derivative Instruments of $4 million .
    -   Q4-2025: Realized Loss of - $58 million, Unrealized Gain of $130 million, resulting in a Total Gain of $72 million .
    -   Q3-2025: Realized Gain of $22 million, Unrealized Gain of $110 million, resulting in a Total Gain of $132 million .
    -   Q2-2025: Realized Loss of - $35 million, Unrealized Gain of $456 million, resulting in a Total Gain of $421 million .
    -   Q1-2025: Realized Loss of - $110 million, Unrealized Loss of - $418 million, resulting in a Total Loss of - $528 million .

#### Natural Gas Hedge Volumes and Pricing (as of 4/15/2026)

-   **Q2 2026:** Total Volumes Hedged: 115.1 Bcf . NYMEX Hedges: 89.3 Bcf at $3.50/Mcf; Physical Fixed Price Sales and Index Hedges: 25.9 Bcf at $2.64/Mcf . NYMEX + Basis (fully-covered volumes): 110.8 Bcf at $2.71/Mcf .
-   **2026:** Total Volumes Hedged: 459.6 Bcf . NYMEX Hedges: 356.2 Bcf at $3.55/Mcf; Physical Fixed Price Sales and Index Hedges: 103.4 Bcf at $2.64/Mcf . NYMEX + Basis (fully-covered volumes): 445.6 Bcf at $2.74/Mcf .
-   **2027:** Total Volumes Hedged: 400.3 Bcf . NYMEX Hedges: 259.7 Bcf at $4.17/Mcf; Physical Fixed Price Sales and Index Hedges: 140.6 Bcf at $3.31/Mcf . NYMEX + Basis (fully-covered volumes): 400.3 Bcf at $3.31/Mcf .
-   **2028:** Total Volumes Hedged: 141.6 Bcf . NYMEX Hedges: 102.8 Bcf at $4.03/Mcf; Physical Fixed Price Sales and Index Hedges: 38.9 Bcf at $3.11/Mcf . NYMEX + Basis (fully-covered volumes): 141.6 Bcf at $3.25/Mcf .

#### Outlook / Guidance (2026E)

CNX Resources Corporation updated its 2026 guidance, maintaining production volumes between 605 and 620 Bcfe, with liquids projected to account for 7% to 8% . The company anticipates Adjusted EBITDAX to be between $1,265 million and $1,315 million, and total capital expenditures are expected to range from $556 million to $586 million . Free cash flow is forecasted to be around $525 million, equating to approximately $3.41 per share .

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