Consol misses 3Q profit forecasts
CANONSBURG — Consol Energy Inc. (CNX) on Tuesday reported third-quarter net income of $119 million, after reporting a loss in the same period a year earlier.
The Southpointe-based company said it had a profit of 52 cents per share. Losses, adjusted for non-recurring gains, came to 28 cents per share.
The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The natural gas company posted revenue of $813.9 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $718.8 million.
Consol shares have declined 74 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 1 percent. The stock has decreased 74 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNX at http://www.zacks.com/ap/CNX