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 CorporationRevenue and IncomeNatural 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 ExpensesLease 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 ExpensesOther 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 VolumesShale 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 FlowNet 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 FlowFree 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) - Q1-2026Average 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 ActualsForecasted 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 .