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 Inc. (NYSE: CEIX) will report its first quarter earnings on May 2, 2023, prior to market opening. A conference call, led by management, is scheduled for 10:00 a.m. ET, where stakeholders can participate via telephone or through a live webcast on the company's website. CONSOL Energy, based in Canonsburg, Pennsylvania, is a major producer and exporter of bituminous thermal and metallurgical coal. Its flagship Pennsylvania Mining Complex has a capacity of 28.5 million tons annually, alongside the Itmann Mine producing 900,000 tons of premium coking coal. The company expects significant coal production from its reserves across the Eastern U.S. basins.
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