CNX Resources Corporation Reports $433 Million Net Income and Significant Revenue Growth in Latest Quarter

CNX Resources Corporation reported significant financial improvements in its latest quarterly results, with net income reaching $433 million, or $2.53 per diluted share, for the three months ended June 30, 2025. This marks a substantial recovery from a net loss of $18 million, or a loss of $0.12 per share, during the same period in 2024. The increase in profitability was driven by a notable unrealized gain on commodity derivative instruments of $456 million, compared to an unrealized loss of $96 million in the prior year. Total revenue and other operating income surged to $962 million, up from $321 million in the previous year, largely due to increased natural gas prices and sales volumes.

In terms of operational metrics, CNX's total sales volumes increased by 33.6 billion cubic feet equivalent (Bcfe) year-over-year, primarily attributed to the acquisition of Apex Energy II, LLC, which expanded the company's shale undeveloped leasehold in Pennsylvania. The average sales price for natural gas rose significantly, contributing to a 128.3% increase in gross natural gas revenue, which reached $443.6 million. The company also reported a 9.1% increase in the average sales price of natural gas liquids (NGLs), further bolstering revenue.

Strategically, CNX completed the acquisition of Apex Energy II, LLC for approximately $518 million, enhancing its operational footprint and infrastructure capabilities. The company also engaged in share repurchase activities, buying back 7.8 million shares at an average price of $30.51 per share during the first half of 2025, reflecting a commitment to returning value to shareholders. As of June 30, 2025, CNX had approximately $711.6 million remaining under its stock repurchase program.

On the operational front, CNX's total assets increased to $8.99 billion, up from $8.51 billion at the end of 2024, while total liabilities rose to $4.90 billion. The company maintained a strong liquidity position, with cash and cash equivalents totaling $3.39 million, alongside restricted cash of $12.5 million. The company’s capital expenditures for the first half of 2025 were $245 million, with expectations to range between $450 million to $500 million for the full year.

Looking ahead, CNX anticipates continued volatility in natural gas prices, which could impact future revenues and cash flows. The company remains focused on operational efficiency and cost management to mitigate inflationary pressures. Additionally, CNX is committed to maintaining compliance with its debt covenants and expects to leverage its operational capabilities to navigate market challenges effectively.