Yahoo Finance What's in Store for CNX Resources (CNX) in Q1 Earnings?
CNX Resources Corporation CNX is scheduled to release first-quarter 2023 financial results on Apr 27, before market open. The company delivered an earnings surprise of 187.7% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
CNX Resources’ first-quarter earnings are expected to have benefited from stable production volumes from the Marcellus and Utica shales.
CNX’s free cash flow generation and utilization of the same to repurchase shares and reduce debts must have benefited the company’s bottom-line performance.
Expectations
The Zacks Consensus Estimate for first-quarter earnings is pegged at 41 cents per share, indicating a year-over-year decrease of 48.1%.
The same for revenues is pinned at $427 million, indicating a year-over-year decline of 9.92%.
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 +4.63%.
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 #4 (Sell).
Stocks to Consider
Investors may consider the following players from the same sector that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Chevron CVX is expected to beat on earnings when it announces first-quarter results on Apr 28, before market open. It has an Earnings ESP of +0.43% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CVX’s long-term (three to five years) earnings growth is pegged at 14.27%. It delivered an average earnings surprise of 5.67% in the last four quarters.
Cheniere Energy Inc. LNG is likely to come up with an earnings beat when it reports first-quarter results on May 2, before market open. It has an Earnings ESP of +34.93% and a Zacks Rank #3 at present.
LNG’s long-term earnings growth is pinned at 10.7%. The consensus mark for 2023 earnings stands at $4.74 per share, implying a year-over-year improvement of 2.6%.
ONEOK Inc. OKE is expected to beat on earnings when it reports first-quarter results on May 2, after market close. It has an Earnings ESP of +11.63% and a Zacks Rank #3 at present.
OKE’s long-term earnings growth is pegged at 7.61%. The consensus estimate for 2023 earnings is pegged at $5.26 per share, implying a year-over-year increase of 36.98%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Chevron Corporation (CVX) : Free Stock Analysis Report
ONEOK, Inc. (OKE) : Free Stock Analysis Report
CNX Resources Corporation. (CNX) : Free Stock Analysis Report
Cheniere Energy, Inc. (LNG) : Free Stock Analysis Report
