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CONSOL Coal (CCR) Q4 Earnings & Revenues Beat Estimates

Zacks Equity Research

CONSOL Coal Resources LP’s CCR fourth-quarter 2018 operating earnings of 59 cents per unit beat the Zacks Consensus Estimate of 48 cents. The reported earnings also improved 40.5% from the prior-year quarter.

Revenues

Revenues of $89.3 million surpassed the Zacks Consensus Estimate of $83 million by 7.6%. Total revenues also improved 12.7% from $79 million in the year-ago period. Coal revenue contribution improved 20.6% year over year to $86.9 million.

Highlights of the Release  
 
CONSOL Coal recorded fourth-quarter production of 1.7 million tons compared with 1.6 million tons produced in the year-ago period. The improvement was primarily due to strong production and continued robust demand from customers.

Total costs in full-year 2018 were $290.6 million, up 2.9% from $282.3 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 Quote

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Financial Update

As of Dec 31, 2018, the company’s cash was $1 million, down from $1.53 million in the corresponding period of 2017.

Total long-term debt was $168.1 million as of Dec 31, 2018, down from $196.7 million on Dec 31, 2017.

Cash provided from operations during 2018 was $125.1 million compared with $72.6 million in the year-ago period.

Guidance

CONSOL Coal expects total sales volume in 2019 within 6.7-6.95 million tons.

Capital expenditure for 2019 is projected in the range of $34-$38 million.

The company is currently more than 95% contracted for 2019, 53% for 2020 and 28% for 2021, assuming annual production of 6.75 million tons.

Coal Releases

Alliance Resource Partners, L.P. ARLP reported fourth-quarter 2018 operating earnings of 69 cents per unit, which missed the Zacks Consensus Estimate of 74 cents by 6.8%.

Peabody Energy Corp. BTU announced fourth-quarter 2018 earnings of 88 cents per share, which surpassed the Zacks Consensus Estimate of 68 cents by 29.4%.

CONSOL Energy Inc. CEIX reported fourth-quarter 2018 adjusted earnings of $1.41 per share, beating the Zacks Consensus Estimate of 76 cents by 85.5%.

Zacks Rank

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

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