Consol Energy reports first-quarter loss of nearly $100 million
CANONSBURG (AP) – Consol Energy Inc. (CNX) on Tuesday reported a first-quarter loss of $97.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Southpointe-based company said it had a loss of 43 cents. Losses, adjusted to account for discontinued operations and non-recurring costs, were 7 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The natural gas company posted revenue of $558.5 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $679.5 million.
Consol shares have increased 66 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 2 percent. The stock has decreased 57 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNX at http://www.zacks.com/ap/CNX