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CNX RESOURCES CORP filed this 8-K on 1/29/2026

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CNX RESOURCES CORP - 8-K - 20260129 - INCOME_STATEMENT


CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)
Dollars in thousands, except per share data
Revenue and Other Operating Income:	Q4-2025	Q3-2025	Q2-2025	Q1-2025	YTD-2025	Q4-2024
Natural Gas, NGL and Oil Revenue	$476,615	$400,990	$485,029	$551,094	$1,913,728	$364,413
Gain (Loss) on Commodity Derivative Instruments	72,065	131,695	421,121	(528,220)	96,661	(282,992)
Purchased Gas Revenue	14,365	9,026	10,408	11,550	45,349	6,855
Other Revenue and Operating Income	47,439	42,129	45,864	47,964	183,396	48,301
Total Revenue and Other Operating Income	610,484	583,840	962,422	82,388	2,239,134	136,577
Costs and Expenses:
Operating Expense
Lease Operating Expense	20,700	27,127	26,256	23,333	97,416	17,848
Transportation, Gathering and Compression	93,939	97,053	96,953	95,159	383,104	97,586
Production, Ad Valorem, and Other Fees	6,534	7,725	9,668	7,273	31,200	6,646
Depreciation, Depletion and Amortization	145,134	149,323	152,595	127,062	574,114	128,336
Exploration and Production Related Other Costs	5,008	1,656	1,770	2,082	10,516	1,835
Purchased Gas Costs	13,581	8,455	9,402	11,209	42,647	6,699



Selling, General, and Administrative Costs	41,846	30,375	29,068	39,013	140,302	43,542
Other Operating Expense	14,640	19,178	21,014	14,080	68,912	20,576
Total Operating Expense	341,382	340,892	346,726	319,211	1,348,211	323,068
Other Expense (Income)
Other Expense	4,288	1,752	3,729	3,947	13,716	4,539
Gain on Assets Sales and Abandonments, net	(2,410)	(67,460)	(17,715)	(9,583)	(97,168)	(33,627)
Loss on Debt Extinguishment	842	—	—	—	842	—
Interest Expense	41,975	42,964	44,041	41,612	170,592	36,596
Total Other Expense (Income)	44,695	(22,744)	30,055	35,976	87,982	7,508
Total Costs and Expenses	386,077	318,148	376,781	355,187	1,436,193	330,576
Income (Loss) Before Income Tax	224,407	265,692	585,641	(272,799)	802,941	(193,999)
Income Tax Expense (Benefit)	28,154	63,589	153,120	(75,084)	169,779	(49,375)
Net Income (Loss)	$196,253	$202,103	$432,521	($197,715)	$633,162	($144,624)



Earnings (Loss) per Share
Basic	$1.45	$1.45	$3.02	($1.34)	$4.48	($0.97)
Diluted	$1.28	$1.21	$2.53	($1.34)	$3.98	($0.97)

Weighted-Average Shares Outstanding	Q4-2025	Q3-2025	Q2-2025	Q1-2025	YTD-2025	Q4-2024
Weighted-Average Shares of Common Stock Outstanding	135,514,779	139,251,482	143,429,950	147,778,141	141,453,847	148,946,949
Effect of Diluted Shares*	19,021,107	28,333,716	28,316,646	—	18,898,674	—
Weighted-Average Diluted Shares of Common Stock Outstanding	154,535,886	167,585,198	171,746,596	147,778,141	160,352,521	148,946,949

*During periods in which the Company incurs a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of all equity awards and the potential share settlement impact related to CNX’s Convertible Notes are antidilutive.