Natural gas producer CNX Resources (NYSE:CNX) will be announcing earnings results this Thursday morning. Here's what investors should know.
CNX Resources missed analysts' revenue expectations last quarter, reporting revenues of $461.2 million, down 3.7% year on year. It was a satisfactory quarter for the company, with a beat of analysts' EPS estimates.
Is CNX Resources a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members .
This quarter, the market is expecting CNX Resources's revenue to grow 5% year on year, slowing from the 14.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. CNX Resources has missed Wall Street's revenue estimates multiple times over the last two years.
Looking at CNX Resources's peers in the upstream & integrated segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Range Resources delivered year-on-year revenue growth of 17.9%, beating analysts' expectations by 1.2%, and EQT reported revenues up 1%, topping estimates by 0.6%.
Read our full analysis of Range Resources's results here and EQT's results here .
There has been positive sentiment among investors in the upstream & integrated segment, with share prices up 5.9% on average over the last month. CNX Resources is up 19.8% during the same time and is heading into earnings with an average analyst price target of $37.25 (compared to the current share price of $37.98).
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