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 reported strong financial results for Q1 2021, achieving a GAAP net income of $26.4 million and adjusted EBITDA of $106.7 million. The company shipped 6.9 million tons of coal, with notable export sales of 3.3 million tons, representing 48% of total sales volume. Operating cash flow reached $78 million and free cash flow totaled $72.7 million. CONSOL reduced its consolidated indebtedness by $62.7 million and increased its repurchase authorization by $50 million. Looking ahead, the company projects coal sales of 22-24 million tons for 2021.
CONSOL Energy (NYSE: CEIX) plans to release its first quarter earnings before the market opens on May 4, 2021. Following this, a conference call with management will take place at 11:00 a.m. Eastern Time. Investors can access the call via a live webcast on the company's website with an archive available for 30 days. The company produces high-Btu bituminous thermal and metallurgical coal and operates significant mining operations in the Northern Appalachian Basin. Its Pennsylvania Mining Complex has a production capacity of approximately 28.5 million tons per year.
CONSOL Energy Inc. (NYSE: CEIX) has priced $75 million in tax-exempt solid waste disposal revenue bonds through the Pennsylvania Economic Development Financing Authority. These bonds, which have a 30-year maturity and a 9.0% interest rate, demonstrate strong market demand with orders exceeding $170 million. Proceeds will fund the expansion of coal refuse disposal at the Bailey Preparation Plant in Pennsylvania, supporting future mining operations. The bond issuance is anticipated to occur around April 13, 2021, without altering the company's capital expenditure guidance.
On February 9, 2021, CONSOL Energy (NYSE: CEIX) announced its financial results for Q4 and FY 2020, reporting a net income of $14.7 million. Significant highlights include improved coal shipments of 5.9 million tons and a debt reduction of $26 million during Q4. Full-year net cash from operations reached $129.3 million, with adjusted EBITDA of $261.5 million. Despite a net loss of $13.2 million for the year, the company secured $60 million in new capital and increased coal contracts for future deliveries, indicating a positive outlook for 2021.
CONSOL Energy (NYSE: CEIX) plans to release its fourth-quarter earnings before the market opens on February 9, 2021. The earnings announcement will be followed by a conference call at 11:00 a.m. ET, which will be accessible via a live webcast on the company's website.
CONSOL operates in producing and exporting high-BTU bituminous thermal and crossover metallurgical coal, with a production capacity of approximately 28.5 million tons annually from its Pennsylvania Mining Complex and a throughput capacity of 15 million tons from the CONSOL Marine Terminal.
On December 30, 2020, CONSOL Energy (CEIX) announced the completion of its merger with CONSOL Coal Resources LP (CCR). Shareholder approval was overwhelmingly achieved, with over 99% of CEIX shareholders and 83% of CCR limited partners voting in favor. The merger simplifies the corporate structure, reduces dual public company costs, and enhances financial flexibility. Following the transaction, CCR Common Units have been suspended from trading on the NYSE, streamlining operations and increasing efficiencies for both companies.
On November 5, 2020, CONSOL Energy reported a Q3 2020 net loss of $9.4 million. Despite challenges, net cash from operations was $15.7 million, with adjusted EBITDA at $68.3 million. Coal sales volume improved significantly, reaching 4.5 million tons, nearly double that of Q2 2020. The company is focused on improving financial flexibility, having executed multiple asset sales totaling $60-$70 million. Coal prices are rebounding, and management anticipates continued demand recovery into 2021, while maintaining a strong liquidity position of approximately $323 million.
CONSOL Energy (NYSE: CEIX) announced a definitive agreement to acquire all publicly held common units of CONSOL Coal Resources (NYSE: CCR) in an all-stock transaction valued at approximately $34.4 million. CEIX will exchange 0.73 shares of its stock for each CCR unit, representing a 2.1% premium over recent averages. This merger, approved by both companies' boards, aims to simplify structures, improve credit metrics, and enhance capital market access. Subject to approvals, the transaction is expected to close in Q1 2021.
CONSOL Energy (NYSE: CEIX) and CONSOL Coal Resources (NYSE: CCR) will announce their third quarter earnings on November 5, 2020, prior to market opening. A conference call will follow at 11:00 a.m. ET, accessible via webcast on their investor relations pages. CONSOL Energy focuses on high-Btu coal production, with a capacity of 28.5 million tons per year from the Pennsylvania Mining Complex and 15 million tons throughput at the CONSOL Marine Terminal. CONSOL Coal Resources manages active operations in Pennsylvania with an annual production capacity of 7.1 million tons.
CONSOL Energy (CEIX) and CONSOL Coal Resources (CCR) reported multiple transactions aimed at increasing financial flexibility and liquidity since July 1, 2020. The companies anticipate generating approximately $60-$70 million in miscellaneous income and $9-$10 million in gains from asset sales in the second half of 2020. These strategic moves are designed to bolster CEIX's balance sheet and facilitate coal market recovery. CONSOL operates significant mining operations in Pennsylvania and controls vast coal reserves across the eastern U.S.
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