Consol Energy Stock Price, News & Analysis

CONSOL Energy Inc. (NYSE: CEIX) reported robust financial results for Q4 and FY 2022, achieving a GAAP net income of $193 million in Q4 and $467 million for the year. The company announced a dividend of $1.10/share, payable on February 28, 2023. For the fourth quarter, adjusted EBITDA was $240.3 million, with free cash flow reaching $116 million. CEIX repaid $81.6 million in debt and increased its shareholder return allocation to 35-50% of free cash flow. Despite higher operating expenses due to inflation, coal revenue surged to $537 million in Q4, leading to a positive outlook for 2023.

CONSOL Energy Inc. (NYSE: CEIX) has promoted Mitesh B. Thakkar to President, alongside his role as Chief Financial Officer, as part of its succession planning on January 19, 2023. Mr. Thakkar's leadership during challenging times, including the COVID-19 pandemic, has been pivotal in reducing the company's net debt by 83%. The company anticipates 2023 will be an opportunity-filled year, focusing on shareholder returns, growth, and sustainability with a capital expenditure of approximately $28 million allocated for sustainability initiatives. Investments in the Itmann metallurgical coal mine and ongoing projects at the Pennsylvania Mining Complex are expected to enhance production capabilities.

On January 19, 2023, CONSOL Energy Inc. (NYSE: CEIX) announced the promotion of Mitesh B. Thakkar to President, in addition to his role as Chief Financial Officer. This strategic promotion is part of the company's succession planning and aims to enhance operational leadership. Thakkar has successfully reduced net debt by 83% since 2020 and has been pivotal in navigating the company through challenges posed by the COVID-19 pandemic. The board also approved a capital expenditure of approximately $28 million for 2023-2026 to support sustainability goals, including a 50% reduction in greenhouse gas emissions by 2026. This investment reflects a commitment to growth and shareholder value.

CONSOL Energy Inc. (NYSE: CEIX) will announce its fourth quarter earnings on February 7, 2023, before market opening. A management conference call will take place at 10:00 a.m. ET that day, with a live webcast available on its Investor Relations page. The company, based in Canonsburg, Pennsylvania, is a major producer of high-Btu bituminous thermal and metallurgical coal, operating the Pennsylvania Mining Complex with an annual capacity of 28.5 million tons.

CONSOL Energy reported a GAAP net income of $152.1 million for Q3 2022 and adjusted EBITDA of $180.9 million. The company declared a dividend of $1.05/share, payable on November 23, 2022. It also achieved a free cash flow of $107.1 million and made significant debt repayments totaling $56.3 million. Coal revenue reached $472.6 million, with a notable increase in average realized coal revenue per ton sold at $72.83. The Itmann preparation plant began operations in October, enhancing production capacity.

CONSOL Energy announced the commissioning of the Itmann Preparation Plant in late September 2022, marking a significant milestone. The Itmann No. 5 mine is projected to produce approximately 900,000 tons annually of premium, low-vol metallurgical coking coal, targeting both domestic and international steel markets. The company has invested around $100 million in this development, creating approximately 175 long-term jobs. Despite facing delays due to supply chain issues, full operational capacity is expected in 2023.

CONSOL Energy Inc. (NYSE: CEIX) plans to release its third quarter earnings on November 1, 2022, before market opening. A conference call with management will follow at 11:00 a.m. ET, accessible via a live webcast on its Investor Relations page. CONSOL is a leading producer of high-Btu thermal and metallurgical coal, operating the productive Pennsylvania Mining Complex and developing the Itmann project. The complex has a production capacity of 28.5 million tons annually, with substantial coal reserves across various basins in the eastern U.S.

CONSOL Energy reported strong Q2 2022 results, with a GAAP net income of $126.3 million and adjusted EBITDA of $216.3 million. The company initiated a shareholder return program targeting 35% of free cash flow and announced a special dividend of $1.00 per share. Free cash flow hit $159.9 million with coal shipments rising to 6.2 million tons and total coal revenue reaching $532.7 million. Additionally, debt repayments totaled $115.9 million, lowering the net leverage ratio to 0.5x. The Itmann coal project is on track for startup in Q3 2022.