CNX Resources Q3 2026: EPS nearly doubles estimates, FCF guidance raised to $550M
As seen on the 24/7 Wall St. homepage on October 29, 2026.
Full-year free cash flow guidance moved up to roughly $550 million against a $5.6 billion market cap. The headline EPS beat leans on a derivative gain, while quarterly buybacks are already shrinking the share count.
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CNX Resources posted Q3 2026 GAAP diluted EPS of $1.12, beating expectations, and it is the fifth straight quarter of topping analyst estimates. Natural gas investors are finding that streak hard to ignore.
The headline EPS figure carries an asterisk: a $160.6 million gain on commodity derivative instruments drove most of the GAAP line. Adjusted net income of $90 million is the cleaner number to track for underlying operations.
Total unit production costs fell to $1.63 per Mcfe, and free cash flow funded continued share repurchases. The diluted share count dropped to 147.6 million from 167.6 million a year earlier, so each remaining share represents a larger slice of the business.
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Full-year free cash flow guidance rises to approximately $550 million, implying a free cash flow yield that stands out in the current energy sector. The company also narrowed its 2026 production outlook and has roughly 82% of 2026 natural gas volumes hedged, limiting downside from price swings.
For 2027, the company has already hedged 409.4 Bcf of natural gas at a projected realized hedging gain of roughly $205 million. That forward hedge book, plus a buyback that is shrinking the share count, extends the capital return story well beyond this quarter.
Mentioned: CNX