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Jun 30, 2020
CONSOL Energy Q2 2020 Earnings Report
CONSOL Energy reported financial results impacted by COVID-19 pandemic, but team's prompt response helped mitigate the financial impact.
Key Takeaways
CONSOL Energy's second quarter was significantly impacted by the COVID-19 pandemic, which led to reduced demand and operational challenges. However, the company responded quickly by aligning operations with demand, reducing discretionary spending, and successfully amending the credit agreement to provide additional financial flexibility.
Adjusted EBITDA of $34.2 million.
Organic free cash flow net to CEIX shareholders of ($24.0) million.
Contract buyout revenue of $30.1 million.
Successfully negotiated an amendment to credit agreement, providing covenant relaxation.
Forward Guidance
Due to the difficulty in forecasting the duration of the economic slowdown, our 2020 guidance remains suspended. Nonetheless, our team remains ready for and is looking forward to eventual demand recovery.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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