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CNX Resources (CNX) to Report Q2 Earnings: What's in Store?
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CNX Resources Corporation (CNX - Free Report) is scheduled to release second-quarter 2020 earnings on Jul 30, before the market opens. This exploration and production company delivered an earnings surprise of 72.7% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
The novel coronavirus-induced economic crisis is expected to have impacted its operations in the second quarter. Nonetheless, CNX Resources — through production optimization and cost management — is likely to have offset some of the negatives. CNX Resources hedged a substantial portion of second-quarter natural gas production, which is expected to have protected the company from price fluctuation.
It repurchased $79 million worth of notes in the first quarter, which is expected to have reduced interest expenses in the second quarter.
Expectation
The Zacks Consensus Estimate for second-quarter total gas sales volume is pegged at 113 billion cubic feet equivalent, indicating a year-over-year decline of 16.3%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for CNX Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Earnings ESP: The company’s Earnings ESP is -166.67%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, CNX Resources carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Noble Energy Inc. is slated to release second-quarter results on Aug 3. It has an Earnings ESP of +9.62% and a Zacks Rank #1.
Range Resources Corporation (RRC - Free Report) is slated to release second-quarter results on Aug 3. It has an Earnings ESP of +2.00% and a Zacks Rank #3.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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CNX Resources (CNX) to Report Q2 Earnings: What's in Store?
CNX Resources Corporation (CNX - Free Report) is scheduled to release second-quarter 2020 earnings on Jul 30, before the market opens. This exploration and production company delivered an earnings surprise of 72.7% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
The novel coronavirus-induced economic crisis is expected to have impacted its operations in the second quarter. Nonetheless, CNX Resources — through production optimization and cost management — is likely to have offset some of the negatives. CNX Resources hedged a substantial portion of second-quarter natural gas production, which is expected to have protected the company from price fluctuation.
It repurchased $79 million worth of notes in the first quarter, which is expected to have reduced interest expenses in the second quarter.
Expectation
The Zacks Consensus Estimate for second-quarter total gas sales volume is pegged at 113 billion cubic feet equivalent, indicating a year-over-year decline of 16.3%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for CNX Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
CNX Resources Corporation. Price and EPS Surprise
CNX Resources Corporation. price-eps-surprise | CNX Resources Corporation. Quote
Earnings ESP: The company’s Earnings ESP is -166.67%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, CNX Resources carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Southwestern Energy Company (SWN - Free Report) is slated to release second-quarter results on Jul 30. It has an Earnings ESP of +14.29% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Noble Energy Inc. is slated to release second-quarter results on Aug 3. It has an Earnings ESP of +9.62% and a Zacks Rank #1.
Range Resources Corporation (RRC - Free Report) is slated to release second-quarter results on Aug 3. It has an Earnings ESP of +2.00% and a Zacks Rank #3.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>