$CNX

CONSOL Energy Inc

CIK:0001070412|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue and Other Operating Income:
Gain (Loss) on Commodity Derivative Instruments	$ 176,336	$ 421,121	$ 180,317	$ (107,099)
Other Revenue and Operating Income	40,257	45,864	88,200	93,828
Total Revenue and Other Operating Income	618,484	962,422	1,405,138	1,044,811
Operating Expense
Lease Operating Expense	21,262	26,256	43,032	49,588
Production, Ad Valorem and Other Fees	6,546	9,668	15,335	16,941
Depreciation, Depletion and Amortization	136,232	152,595	270,845	279,657
Purchased Gas Costs	12,249	9,402	24,502	20,611
Selling, General, and Administrative Costs	33,837	29,068	66,082	68,082
Other Operating Expense	24,611	21,014	19,989	35,095
Total Operating Expense	340,710	346,726	652,338	665,939
Other Expense
Other Expense	1,183	3,729	1,691	7,676
Loss (Gain) on Asset Sales and Abandonments, net	626	(17,715)	(5,740)	(27,298)
Loss on Debt Extinguishment	0	0	12,009	0
Interest Expense	39,023	44,041	79,493	85,652
Total Other Expense	40,832	30,055	87,453	66,030
Total Costs and Expenses	381,542	376,781	739,791	731,969
Income Before Income Tax	236,942	585,641	665,347	312,842
Income Tax Expense	33,999	153,120	114,257	78,036
Net Income	$ 202,943	$ 432,521	$ 551,090	$ 234,806
Earnings per Share
Basic (in usd per share)	$ 1.37	$ 3.02	$ 3.80	$ 1.61
Diluted (in usd per share)	1.32	2.53	3.56	1.37
Dividends Declared (in usd per share)	$ 0	$ 0	$ 0	$ 0
Natural Gas, NGLs and Oil Revenue
Revenue and Other Operating Income:
Revenues	$ 389,435	$ 485,029	$ 1,111,478	$ 1,036,123
Purchased Gas Revenue
Revenue and Other Operating Income:
Revenues	12,456	10,408	25,143	21,959
Transportation, Gathering and Compression
Operating Expense
Transportation, Gathering and Compression and Exploration and Production Related Other Costs	103,223	96,953	205,625	192,112
Exploration and Production Related Other Costs
Operating Expense
Transportation, Gathering and Compression and Exploration and Production Related Other Costs	$ 2,750	$ 1,770	$ 6,928	$ 3,853

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash Flows from Operating Activities:
Net Income	$ 202,943	$ 432,521	$ 551,090	$ 234,806
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation, Depletion and Amortization	136,232	152,595	270,845	279,657
Amortization of Deferred Financing Costs			4,702	5,370
Stock-Based Compensation			11,510	13,900
Gain on Asset Sales and Abandonments, net			(5,740)	(27,298)
Loss on Debt Extinguishment	0	0	12,009	0
(Gain) Loss on Commodity Derivative Instruments	(176,336)	(421,121)	(180,317)	107,099
Net Cash Paid in Settlement of Commodity Derivative Instruments			(247,976)	(172,382)
Deferred Income Taxes			111,659	65,303
Other			1,108	491
Changes in Operating Assets:
Accounts and Notes Receivable			110,488	9,771
Supplies Inventories			(6,308)	(24,746)
Prepaid Expenses			(1,241)	(1,066)
Changes in Other Assets			14,702	23,174
Changes in Operating Liabilities:
Accounts Payable			(13,853)	(57)
Accrued Interest			(4,649)	5,916
Other Operating Liabilities			(53,402)	381
Changes in Other Liabilities			(17,595)	(22,172)
Net Cash Provided by Operating Activities			557,032	498,147
Cash Flows from Investing Activities:
Capital Expenditures			(311,906)	(245,030)
Proceeds from Asset Sales			32,795	37,413
Investment in Equity Affiliates			(565)	(3,303)
Apex Acquisition (Net of Cash Acquired)			(10,255)	(517,599)
Net Cash Used in Investing Activities			(289,931)	(728,519)
Cash Flows from Financing Activities:
Payments on Long-Term Notes			(507,965)	0
Payments on Other Debt			(2,417)	(1,907)
Proceeds from Issuance of Common Stock			3,251	930
Shares Withheld for Taxes			(15,216)	(13,492)
Purchases of Common Stock			(254,438)	(240,852)
Debt Issuance and Financing Fees			(8,090)	(939)
Net Cash (Used in) Provided by Financing Activities			(271,975)	191,190
Net Decrease in Cash, Cash Equivalents and Restricted Cash			(4,874)	(39,182)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period			13,464	55,073	$ 55,073
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 8,590	$ 15,891	8,590	15,891	$ 13,464
CNXM Revolving Credit Facility
Cash Flows from Financing Activities:
Net Proceeds from Revolving Credit Facility			204,100	180,425
Net Payments on Revolving Credit Facility			(146,850)	(174,475)
CNX Revolving Credit Facility
Cash Flows from Financing Activities:
Net Proceeds from Revolving Credit Facility			1,019,350	1,138,250
Net Payments on Revolving Credit Facility			(1,063,700)	(895,250)
CNX Senior Notes
Cash Flows from Financing Activities:
Proceeds from Issuance of CNX Senior Notes			$ 500,000	$ 198,500

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and Cash Equivalents	$ 6,162	$ 779
Restricted Cash	2,428	12,685
Accounts and Notes Receivable:
Trade, net	163,835	264,658
Other Receivables, net	25,771	61,249
Supplies Inventories	32,509	26,201
Derivative Instruments	220,712	106,068
Prepaid Expenses	19,938	18,697
Total Current Assets	471,355	490,337
Property, Plant and Equipment:
Property, Plant and Equipment	14,380,988	14,057,224
Less—Accumulated Depreciation, Depletion and Amortization	6,442,893	6,193,871
Total Property, Plant and Equipment—Net	7,938,095	7,863,353
Other Non-Current Assets:
Operating Lease Right-of-Use Assets	126,593	150,310
Derivative Instruments	165,543	134,396
Goodwill	323,314	323,314
Other Intangible Assets	54,057	57,333
Other	57,942	75,403
Total Other Non-Current Assets	727,449	740,756
TOTAL ASSETS	9,136,899	9,094,446
Current Liabilities:
Accounts Payable	179,800	158,811
Derivative Instruments	174,882	377,945
Current Portion of Finance Lease Obligations	5,110	5,095
Current Portion of Long-Term Debt	0	208,095
Current Portion of Operating Lease Obligations	46,792	48,453
Other Accrued Liabilities	251,308	325,976
Total Current Liabilities	657,892	1,124,375
Non-Current Liabilities:
Long-Term Debt	2,223,745	2,213,264
Finance Lease Obligations	22,437	24,991
Operating Lease Obligations	82,024	104,955
Derivative Instruments	78,928	158,368
Deferred Income Taxes	969,080	857,367
Asset Retirement Obligations	165,693	163,051
Other	93,291	111,059
Total Non-Current Liabilities	3,635,198	3,633,055
TOTAL LIABILITIES	4,293,090	4,757,430
Stockholders’ Equity:
Common Stock, $.01 Par Value; 500,000,000 Shares Authorized, 149,036,879 Issued and Outstanding at June 30, 2026; 142,590,509 Issued and Outstanding at December 31, 2025	1,491	1,427
Capital in Excess of Par Value	2,526,486	2,357,039
Preferred Stock, 15,000,000 shares authorized, None issued and outstanding	0	0
Retained Earnings	2,321,367	1,984,229
Accumulated Other Comprehensive Loss	(5,535)	(5,679)
TOTAL STOCKHOLDERS' EQUITY	4,843,809	4,337,016
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 9,136,899	$ 9,094,446