CNX FY 2023 Earnings Report — CNX Resources Corporation Revenue & Financial Results | Market Cap Arena

CNX Resources CorporationCNX

FY 2023 Earnings

Reported February 8, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.5B	—	$3.9B	—	-62.7%
Op. Income	$781M	—	$3.1B	—	-75.0%
Gross Margin	62.5%	—	83.0%	—	-20.6pp
Net Margin	117.6%	—	-3.6%	—	121.3pp
EPS (Diluted)	$8.99	—	$-0.75	—	1298.7%
Free Cash Flow	$135M	—	$669M	—	-79.8%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$549M
GROSS PROFIT	$914M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$133M
Other Expenses	$0
Operating Expenses	$133M
Cost & Expenses	$682M
OPERATING INCOME	$781M
Interest Income	$0
Interest Expense	$143M
Other Income/Expenses	$1.4B
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$502M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$434M
EBIT	$2.2B
EBITDA	$2.7B
EPS	$11
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$549M
GROSS PROFIT	$914M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$133M
Other Expenses	$0
Operating Expenses	$133M
Cost & Expenses	$682M
OPERATING INCOME	$781M
Interest Income	$0
Interest Expense	$143M
Other Income/Expenses	$1.4B
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$502M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$434M
EBIT	$2.2B
EBITDA	$2.7B
EPS	$11
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$1.7B
Depreciation & Amortization	$0
Stock-Based Compensation	$20M
Deferred Income Tax	$497M
Other Non-Cash Items	-$1.5B
Change in Working Capital	$113M
OPERATING CASH FLOW	$815M
Capital Expenditure	-$679M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$170M
NET CASH FROM INVESTING	-$509M
Net Debt Issuance	$2M
Common Stock Repurchased	-$320M
Common Dividends Paid	$0
Other Financing Activities	$1M
NET CASH FROM FINANCING	-$326M
FREE CASH FLOW	$135M
Net Change in Cash	-$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$443.0K
Short-Term Investments	$0
Net Receivables	$134M
Inventory	$20M
Other Current Assets	$253M
TOTAL CURRENT ASSETS	$422M
PP&E (Net)	$1.6B
Goodwill	$323M
Intangible Assets	$394M
Long-Term Investments	$281M
Tax Assets	-$323M
Other Non-Current Assets	$6.0B
TOTAL NON-CURRENT ASSETS	$8.2B
TOTAL ASSETS	$8.6B
Account Payables	$147M
Short-Term Debt	$326M
Deferred Revenue	$16M
Other Current Liabilities	$261M
TOTAL CURRENT LIABILITIES	$823M
Long-Term Debt	$1.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$729M
Other Non-Current Liabilities	$729M
TOTAL NON-CURRENT LIABILITIES	$3.4B
TOTAL LIABILITIES	$4.3B
Common Stock	$2M
Additional Paid-In Capital	$2.4B
Retained Earnings	$2.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.4B
Minority Interest	$0
TOTAL EQUITY	$4.4B
TOTAL LIABILITIES & EQUITY	$8.6B
Total Debt	$2.4B
Net Debt	$2.4B