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Mar 31, 2025
CNX Resources Q1 2025 Earnings Report
CNX Resources delivered strong Q1 2025 results, continuing its streak of free cash flow generation and completing a major acquisition.
Key Takeaways
In Q1 2025, CNX Resources reported consistent free cash flow, strategic share repurchases, and the integration of Apex Energy, demonstrating operational discipline and capital efficiency.
Generated $100,000,000 in free cash flow in Q1 2025
Repurchased 4,200,000 shares at an average price of $29.88
Completed acquisition of Apex Energy, raising net debt to $2,700,000,000
Earned $19,000,000 from environmental attribute sales tied to Coal Mine Methane volumes
Forward Guidance
CNX reaffirmed 2025 production and capital plans, with a stronger outlook for free cash flow per share due to share count reduction.
Positive Outlook
- Production guidance maintained at 605 to 620 Bcfe
- Free cash flow forecast for 2025 increased to $3.97 per share
- Capital expenditure guidance remains at $450M to $500M
- Ongoing share repurchases enhancing per-share value
- Operational plans on track with continued safety and efficiency
Challenges Ahead
- Higher net debt following Apex acquisition
- FCF projections reliant on NYMEX pricing at $3.76/MMBtu
- No operating income disclosed
- No geographic revenue breakdown provided
- Limited financial detail on Apex integration impact
Historical Earnings Impact
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Avg. Return Before/After Earnings
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