CNX Resources (CNX) Q3 2026 Earnings
GAAP diluted EPS includes a $160.6 million gain on commodity derivative instruments, of which $108 million was unrealized, and a $3.5 million gain on asset sales and abandonments. Adjusted net income was $90 million, versus GAAP net income of $165 million. No adjusted per-share figure is disclosed.
How Did CNX Stock React to Q3 2026 Earnings?
Did CNX Beat Earnings? Q3 2026 Results
Yes. CNX Resources reported Q3 2026 earnings of $1.12 a share on Oct 29, 2026, beating the $0.56 consensus estimate by 98.6%. Revenue was $580.0M against a $473.7M estimate.
CNX Resources Corp delivered a sharp earnings beat in the third quarter of 2026, with GAAP diluted EPS of $1.12 beating the $0.56 consensus by 98.62%, extending the company's streak of topping Wall Street estimates to five consecutive quarters. Revenue of $580.00 million cleared the $473.67 million consensus by 22.45%, though it edged down 0.7% from a year earlier. The headline GAAP result was heavily influenced by a $160.56 million gain on commodity derivative instruments, of which $108.00 million was unrealized, alongside a $3.50 million gain on asset sales; adjusted net income came in at $90.00 million, up from $82.00 million in Q3 2025. Operationally, unit production costs fell to $1.63 per Mcfe from $1.73 in the prior quarter, while free cash flow of $125.00 million helped fund $180.24 million in share repurchases. Looking ahead, CNX raised its full-year free cash flow guidance to approximately $550.00 million, or roughly $3.85 per share, and narrowed its production outlook to 612.5 to 617.5 Bcfe, reflecting confidence in its Appalachian development program and an extensive hedge book covering approximately 82% of 2026 natural gas volumes.
- Gain on commodity derivative instruments of $160.6 million, including a $53 million realized gain and a $108 million unrealized gain
- Realized natural gas price of $2.58/Mcf versus $2.57 in Q3 2025, helped by a $0.37/Mcf hedge cash settlement gain
- Average NGL sales price of $3.95/Mcfe versus $3.04 in Q3 2025
- Total production costs fell to $1.63/Mcfe from $1.73 in Q2 2026; transportation, gathering and compression was $0.61/Mcfe
- Production of 156.3 Bcfe (1,699.2 MMcfe/d) versus 161.3 Bcfe in Q3 2025
- Adjusted EBITDAX of $294 million versus $298 million in Q3 2025; adjusted net income of $90 million versus $82 million
- Weighted-average diluted shares of 147.6 million versus 167.6 million in Q3 2025
What Is CNX Resources's Outlook?
CNX updated its 2026 guidance: - **Production:** 612.5–617.5 Bcfe (previously 605–620 Bcfe), with liquids at about 8–9%. - **Hedging:** about 82% of natural gas hedged. - **Price assumptions on open volumes:** NYMEX $3.54/MMBtu, differential ($0.71)/MMBtu and NGL realized price about $26.95/Bbl. - **Adjusted EBITDAX:** $1,290–$1,310 million (previously $1,265–$1,315 million). - **Capital expenditures:** - Drilling and completions: $405–$410 million. - Non-D&C: $150–$160 million. - Base capex: $555–$570 million. - Utica Shale rights payment: $16 million. - Total: $571–$586 million (previously $556–$586 million). - **Environmental attributes:** sales are expected to add about $80 million to free cash flow. - **Free cash flow:** about $550 million (previously about $525 million), or about $3.85 per share (previously about $3.55). This includes about $50 million of expected 2026 asset sales. - **2026 activity:** 34 wells turned in line — 24 SWPA Marcellus, 3 CPA Marcellus and 7 CPA Utica. - **2027 hedges:** 409.4 Bcf hedged; projected realized hedging gain of $204,990 thousand at the strip as of 10/14/2026.
CNX YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $580.0M | $583.9M | −0.7% |
| Net Income | $165.2M | $202.1M | −18.2% |
CNX Revenue by Segment
When Does CNX Resources Report Next?
Figures from SEC filings and company reports. Not investment advice.