CONSOL Energy Earnings: Beats Street on Profit CLIMB

S&P 500 (NYSE:SPY) component CONSOL Energy Inc. (NYSE:CNX) reported net income above Wall Street’s expectations for the second quarter. Consol Energy is a coal and gas energy producer and energy services provider that mainly serves the electric power generation industry in the United States.

Investing Insights: Is TV the Next Bullish Catalyst for Apple’s Stock?

CONSOL Energy Inc. Earnings Cheat Sheet

Results: Net income for CONSOL Energy Inc. rose to $152.7 million (67 cents per share) vs. $77.4 million (34 cents per share) in the same quarter a year earlier. This marks a rise of 97.4% from the year-earlier quarter.

Revenue: Fell 8.4% to $1.45 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: CONSOL Energy Inc. beat the mean analyst estimate of 31 cents per share. It beat the average revenue estimate of $1.31 billion.

Quoting Management: “We continue to manage our way through this challenging environment,” commented J. Brett Harvey, chairman and CEO. “In fact, we are fortunate to have generated more net income in this year’s second quarter than in last year’s second quarter, despite the much weaker industry and macro environment. At CONSOL, we’ve been working aggressively to manage costs and to raise cash by selling assets that are better suited to others.”

Key Stats:

The company topped expectations last quarter after falling short of forecasts in the first quarter with net income of 42 cents versus a mean estimate of net income of 56 cents per share.

Net income has increased 54.7% year-over-year on average across the last five quarters. The biggest gain came in the third quarter of the last fiscal year, when income climbed more than twofold from the year-earlier quarter.

Revenue has fallen in the past two quarters. In the first quarter, revenue declined 2.6% to $1.43 billion from the year-earlier quarter.

The company’s cost of sales fell 7.6% from a year earlier to $856.9 million. Last quarter, cost of sales was 58.9% of revenue versus 58.4% a year earlier.

Looking Forward: Over the last 30 days, analysts have not been optimistic about the company’s next-quarter performance. The average estimate for the third quarter is now 45 cents per share, down from 46 cents. For the fiscal year, the average estimate has moved down from $2.11 a share to $1.73 over the last ninety days.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Hot Additional Stories:

Netflix: The GREATEST Head Fake?

Ford Earnings: Revenue TOPS Analyst Estimate, Shares UP>>

Is Cisco Systems Stock a BUY or SELL?