CNX Q4 2022 Earnings Report — CNX Resources Corporation Revenue & Financial Results | Market Cap Arena

CNX Resources CorporationCNX

Q4 2022 Earnings

Reported February 9, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2022	Q3 2022	Q4 2021	QoQ Change	YoY Change
Revenue	$861M	$1.2B	$909M	-27.0%	-5.3%
Op. Income	$637M	$988M	$708M	-35.6%	-10.1%
Gross Margin	78.2%	86.3%	83.4%	-8.1pp	-5.2pp
Net Margin	136.4%	-36.2%	69.3%	172.7pp	67.1pp
EPS (Diluted)	$5.67	$-2.28	$2.90	348.7%	95.5%
Free Cash Flow	$269M	$131M	$136M	105.7%	97.3%

Revenue Flow

Item	Amount
REVENUE	$861M
Cost of Revenue	$188M
GROSS PROFIT	$673M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$36M
Other Expenses	$0
Operating Expenses	$36M
Cost & Expenses	$224M
OPERATING INCOME	$637M
Interest Income	$0
Interest Expense	$35M
Other Income/Expenses	$620M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$82M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$112M
EBIT	$1.3B
EBITDA	$1.4B
EPS	$7
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$861M
Cost of Revenue	$188M
GROSS PROFIT	$673M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$36M
Other Expenses	$0
Operating Expenses	$36M
Cost & Expenses	$224M
OPERATING INCOME	$637M
Interest Income	$0
Interest Expense	$35M
Other Income/Expenses	$620M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$82M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$112M
EBIT	$1.3B
EBITDA	$1.4B
EPS	$7
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$112M
Stock-Based Compensation	$0
Deferred Income Tax	$83M
Other Non-Cash Items	-$1.1B
Change in Working Capital	$129M
OPERATING CASH FLOW	$442M
Capital Expenditure	-$173M
Acquisitions (Net)	$7M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$166M
Net Debt Issuance	-$43M
Common Stock Repurchased	-$215M
Common Dividends Paid	$0
Other Financing Activities	$1M
NET CASH FROM FINANCING	-$256M
FREE CASH FLOW	$269M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$21M
Short-Term Investments	$0
Net Receivables	$355M
Inventory	$27M
Other Current Assets	$154M
TOTAL CURRENT ASSETS	$574M
PP&E (Net)	$7.3B
Goodwill	$323M
Intangible Assets	$77M
Long-Term Investments	$245M
Tax Assets	-$245M
Other Non-Current Assets	$270M
TOTAL NON-CURRENT ASSETS	$7.9B
TOTAL ASSETS	$8.5B
Account Payables	$191M
Short-Term Debt	$0
Deferred Revenue	$22M
Other Current Liabilities	$1.0B
TOTAL CURRENT LIABILITIES	$1.3B
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$232M
Other Non-Current Liabilities	$1.7B
TOTAL NON-CURRENT LIABILITIES	$4.3B
TOTAL LIABILITIES	$5.6B
Common Stock	$2M
Additional Paid-In Capital	$2.5B
Retained Earnings	$449M
Treasury Stock	$0
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$8.5B
Total Debt	$2.4B
Net Debt	$2.4B