Consol misses 3Q profit forecasts
CANONSBURG (AP) – Consol Energy Inc. on Tuesday reported third-quarter net income of $25.3 million.
On a per-share basis, the Southpointe-based company said it had net income of 11 cents. Losses, adjusted for non-recurring gains, were 15 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The natural gas company posted revenue of $745.6 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $572.7 million.
Consol shares have more than doubled since the beginning of the year, while the Standard & Poor’s 500 index has risen 4 percent. The stock has more than doubled in the last 12 months.