Consol Energy reports Q3 GAAP EPS $3.11, consensus $4.80

Reports Q3 revenue $569.9M, consensus $587.25M. “During the third quarter of 2023, we generated $120 million in free cash flow1, which was deployed toward further strengthening our balance sheet and retiring 1 million shares of our outstanding common stock in the open market,” said Jimmy Brock, CEO of Consol Energy Inc. “On a year-to-date basis, we’ve generated $639 million in net cash provided by operating activities and more than $500 million in free cash flow1, which was used to fully retire the remaining balances of our Term Loan B and Second Lien Notes, as well as to repurchase 4.1 million shares of our outstanding common stock. Our ongoing pivot into the export markets continued during the quarter, as the majority of our revenue was generated from sales into the seaborne markets and non-power generation industries. From an operational standpoint, in just nine months, our CONSOL Marine Terminal has achieved a year-to-date throughput level of 14.2 million tons. We also advanced our contracting progress during the quarter and have improved our 2024 and 2025 sales books to 21.5 million tons and 10.8 million tons, respectively.”