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CONSOL Coal (CCR) Earnings & Revenues Miss Estimates in Q1

CONSOL Coal Resources LP’s CCR first-quarter 2020 operating earnings of a penny per unit missed the Zacks Consensus Estimate of 7 cents by 85.7%. The bottom line also declined from the prior-year quarter’s earnings of 54 cents.

Revenues

Revenues of $67.3 million lagged the Zacks Consensus Estimate of $71 million by 5.5%. Total revenues also declined 21.7% from $86.1 million recorded in the year-ago quarter. The year-over-year decline was caused by lower contribution from its segments.

Highlights of the Release
 
CONSOL Coal’s first-quarter production amounted to 1.5 million tons, lower than 1.7 million in the year-ago quarter. The downside was due to reduced customer demand and a longwall move at Harvey mine.

Total costs in first-quarter 2019 were $62.7 million, down 11.5% from $70.9 million in the year-ago quarter.

CONSOL Coal Resources LP Price, Consensus and EPS Surprise

 

CONSOL Coal Resources LP Price, Consensus and EPS Surprise
CONSOL Coal Resources LP Price, Consensus and EPS Surprise

CONSOL Coal Resources LP price-consensus-eps-surprise-chart | CONSOL Coal Resources LP Quote

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Financial Update

As of Mar 31, 2020, the company’s cash was $0.2 million, down from $0.5 million on Dec 31, 2019.

Total long-term debt was $185.6 million as of Mar 31, 2020, up from $182.5 million on Dec 31, 2019.

Cash provided from operations during first-quarter 2020 was $16.7 million compared with $25.2 million in the year-ago quarter.

Other Releases

Arch Coal Inc. ARCH reported first-quarter 2020 operating loss of $1.67 per share, wider than the Zacks Consensus Estimate of a loss of $1.21.

Peabody Energy BTU reported quarterly loss of $1.23 per share in first-quarter 2020, wider than the Zacks Consensus Estimate of a loss of $0.92.

Evergy, Inc. EVRG delivered first-quarter 2020 operating earnings of 41 cents per share, which beat the Zacks Consensus Estimate by a penny.

Zacks Rank

CONSOL Coal currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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