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Consol Energy (NYSE:CNX) saw revenues increase by 10 percent last quarter, according to coalguru.com. Higher costs took out some of that profit, but still, the company posted a significantly narrower loss for the quarter in a year over year comparison.
Consol Energy (NYSE:CNX) saw revenues increase by 10 percent last quarter, according to coalguru.com. Higher costs took out some of that profit, but still, the company posted a significantly narrower loss for the quarter in a year over year comparison.
As quoted in the publication:
The company said that it expects to ramp up its gas production, earlier this year forecasting its 2015 annual gas production will grow by 30%. In the latest quarter, gas production was 41% higher than the year-earlier quarter.
Overall, Consol posted a loss of USD 1.65 million, or 1% a share, compared with a loss of USD 63.7 million, or 28% a share, a year earlier. The quarter’s results included a USD 21 million expense related to early debt extinguishment. Excluding special items, earnings were nine cents a share, lower than analysts’ expectations.