Welcome to our dedicated page for CONSOL Energy news (Ticker: CEIX), a resource for investors and traders seeking the latest updates and insights on CONSOL Energy stock.
CONSOL Energy Inc. (NYSE: CEIX) is a Canonsburg, Pennsylvania-based producer and exporter of high-BTU bituminous thermal and crossover metallurgical coal. The company owns and operates some of the most productive longwall mining operations in the Northern Appalachian Basin. Its flagship operation, the Pennsylvania Mining Complex, includes three large-scale underground mines: Bailey, Enlow Fork, and Harvey. This complex has the capacity to produce approximately 28.5 million tons of coal per year.
In addition to its mining operations, CONSOL Energy operates the CONSOL Marine Terminal located in the port of Baltimore, which has a throughput capacity of approximately 15 million tons per year. The company controls roughly 767 million reserve tons of coal at the Pennsylvania Mining Complex and another 1.6 billion tons of greenfield thermal and metallurgical coal reserves throughout the Eastern United States.
Recently, CONSOL Energy has seen significant financial achievements. In the third quarter of 2023, the company generated $120 million in free cash flow, deployed towards strengthening its balance sheet and repurchasing 1 million shares of its common stock. Year-to-date, the company generated $639 million in net cash provided by operating activities and over $500 million in free cash flow.
The company continues to pivot into export markets, with the majority of its revenue generated from seaborne markets and non-power generation industries. In nine months of 2023, its Marine Terminal achieved a throughput level of 14.2 million tons. The company has secured significant forward contracts for 2024 and 2025.
CONSOL Energy is also committed to safety, with several of its operations reporting zero employee recordable incidents year-to-date in 2023. The company's total recordable incident rate is 40% below the national average for underground bituminous coal mines.
The company has faced challenges, such as the collapse of the Francis Scott Key Bridge in Baltimore, which affected shipments from its Marine Terminal. However, operations resumed with limitations as of May 2024. Despite these challenges, CONSOL Energy remains a key player in the coal industry, leveraging its extensive reserves and operational efficiency.
For more detailed financial information and updates, visit the CONSOL Energy website.
CONSOL Energy (CEIX) reported strong Q3 2024 results with GAAP net income of $95.6 million and diluted EPS of $3.22. The company achieved total revenue of $574.9 million, adjusted EBITDA of $179.2 million, and free cash flow of $121.8 million. The Pennsylvania Mining Complex (PAMC) produced a record 7.2 million tons for Q3, while the CONSOL Marine Terminal shipped 4.7 million tons. The company announced a $0.25/share dividend payable November 26, 2024. The merger with Arch Resources continues to progress with closing expected by end of Q1 2025. PAMC is nearly fully contracted for 2024 with approximately 18 million tons contracted for 2025.
CONSOL Energy Inc. (NYSE: CEIX) has announced its schedule for the third quarter 2024 earnings release and conference call. The company will release its earnings report before the market opens on Tuesday, November 5, 2024, followed by a conference call at 10:00 a.m. Eastern Time. Investors can access the live webcast on the company's website and join via telephone.
CONSOL Energy is a Canonsburg, Pennsylvania-based producer and exporter of high-Btu bituminous thermal and metallurgical coal. The company operates the Pennsylvania Mining Complex with a capacity of 28.5 million tons per year and the newly developed Itmann Mine with a capacity of 900,000 tons per annum. CONSOL also owns the CONSOL Marine Terminal in Baltimore with a throughput capacity of 20 million tons per year. The company controls approximately 1.3 billion tons of greenfield coal reserves across major coal-producing basins in the eastern United States.
Arch Resources (NYSE: ARCH) and CONSOL Energy (NYSE: CEIX) have announced the expiration of the Hart-Scott-Rodino Act waiting period for their pending merger. This expiration, which occurred at 11:59 p.m. Eastern Time on October 11, 2024, marks a significant milestone in the merger process. The HSR Act waiting period expiration was a key condition for closing the combination. However, the transaction's completion still depends on meeting other customary closing conditions, including approval from both companies' stockholders. This development brings Arch and CONSOL one step closer to finalizing their merger, potentially creating a stronger entity in the energy sector.
Arch Resources (NYSE: ARCH) and CONSOL Energy (NYSE: CEIX) have announced a merger of equals to create Core Natural Resources, a premier North American natural resource company. The all-stock transaction will combine two leading coal producers, creating a diversified portfolio with ~12 Mtpa of metallurgical coal and over 25 Mtpa of high calorific value thermal coal. The merged entity will have ~25 Mtpa of export capacity and is expected to generate $110-140 million in annual synergies. With a pro forma market cap of $5.2 billion, Core Natural Resources aims to leverage complementary assets, enhance global market reach, and deliver strong shareholder returns. The merger is expected to close by Q1 2025, subject to regulatory and shareholder approvals.
CONSOL Energy Inc. (NYSE: CEIX) reported strong financial results for Q2 2024, despite challenges from the Francis Scott Key Bridge collapse. Key highlights include:
- GAAP net income of $58.1 million and dilutive EPS of $1.96
- Adjusted EBITDA of $124.5 million
- Free cash flow of $58.6 million
- Total revenue of $501.1 million
- Pennsylvania Mining Complex (PAMC) sold 5.8 million tons
- CONSOL Marine Terminal (CMT) resumed operations in late May, shipping 2.3 million tons
The company navigated operational headwinds successfully, maintaining robust sales despite export capacity limitations. PAMC is near-fully contracted for 2024 and improved its 2025 position to 14.5 million tons. CEIX continues to focus on shareholder returns, having repurchased 6.1 million shares since December 2022.
CONSOL Energy Inc. (NYSE: CEIX) has announced its second quarter 2024 earnings release schedule. The company will issue its earnings report before the market opens on Thursday, August 8, 2024, followed by a conference call at 10:00 a.m. Eastern Time. A live webcast will be available on the company's website, with an archive accessible for at least 30 days after the event.
CONSOL Energy is a Canonsburg, Pennsylvania-based producer and exporter of high-Btu bituminous thermal and metallurgical coal. The company's flagship operation, the Pennsylvania Mining Complex, has a capacity to produce approximately 28.5 million tons of coal per year. CONSOL also operates the Itmann Mine and the CONSOL Marine Terminal, controlling approximately 1.3 billion tons of greenfield thermal and metallurgical coal reserves across major coal-producing basins in the eastern United States.
CONSOL Energy announced the resumption of coal shipments from its Baltimore Marine Terminal following a shutdown caused by the collapse of the Francis Scott Key bridge on March 26. The first shipment, which departed on May 21, carried 56,000 net tons compared to the usual 140,000 net tons. CEO Jimmy Brock expressed optimism about returning to normal operations soon, despite current limitations on ship size and night-time departures. The reopening is important for the company's shift toward export markets, which accounted for 65% of its total recurring revenues in Q1 2024. The channel is now 350 feet wide, needing an additional 50 feet clearance for larger vessels.
CONSOL Energy Inc. reported a strong financial performance with GAAP net income of $101.9 million and an adjusted EBITDA of $181.8 million for the first quarter of 2024. Despite challenges such as longwall moves and a bridge collapse affecting coal shipments, the company managed to return 89% of its free cash flow to shareholders through stock repurchases. The Pennsylvania Mining Complex produced 6.5 million tons of coal, while the Itmann Mining Complex saw an increase in sales. The company is focused on enhancing shareholder value through strategic initiatives and optimizing operations.
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