Consol Energy reports Q3 EPS $3.22, consensus $3.16

Reports Q3 revenue $574.9M, consensus $554.15M. “During the third quarter of 2024, the CONSOL team achieved robust financial and operational results, despite a longwall move at the PAMC and an annual planned maintenance shutdown,” said Jimmy Brock, chairman and CEO of Consol Energy (CEIX) Inc. “With the CONSOL Marine Terminal rebounding from the impact of the Francis Scott Key Bridge collapse, which occurred on March 26, 2024, and affected much of the second quarter, the PAMC team delivered a strong production quarter in 3Q24, mining 7.2 million tons, which was a third quarter record for the complex. As a result, we finished the quarter with approximately $179 million of adjusted EBITDA1 and $122 million of free cash flow1, and we increased our cash and cash equivalents by $116 million since June 30, 2024. The merger with Arch Resources continues to move forward and progress as expected, with closing still anticipated to occur by the end of the first quarter of 2025. Consistent with the capital return framework outlined in the merger agreement, we announced a $0.25 per share dividend, which will be payable on November 26, 2024.”