CNX Resources Corp

Listed Company

CNXCIK 0001070412NYSELarge AcceleratedCrude Petroleum & Natural GasDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.24B

Net Income

$633.16M

Total Assets

$9.09B

Equity

$4.34B

Shares Out

141.48M

Op. Cash Flow

$1.03B

Business

CNX Resources Corp is an independent ultra‑low carbon intensity natural gas development, production, midstream and technology company focused on the Appalachian Basin. It provides natural gas, natural gas liquids, condensate and oil production, gathering and processing, water sourcing/delivery/disposal, methane capture and commercialization of environmental attributes and proprietary low‑emission technologies. Key business segments include Shale operations, Coalbed Methane (CBM), Other Gas, midstream gas services, marketing and a New Technologies division. CNX operates and markets primarily in Pennsylvania, Ohio, West Virginia and Virginia through owned and third‑party gathering, processing and interstate transportation arrangements.

Summary from filing dated 2025-02-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gain (Loss) on Commodity Derivative Instruments	97	−172	1,929	−2,664	−1,633
Other Revenue and Operating Income	183	194	130	87	106
Total Revenue and Other Operating Income	2,239	1,267	3,435	1,261	757
Lease Operating Expense	97	71	63	67	46
Production, Ad Valorem and Other Fees	31	28	28	45	34
Depreciation, Depletion and Amortization	574	486	434	461	—
Purchased Gas Costs	43	57	70	185	94
Selling, General and Administrative Costs	140	146	125	122	113
Other Operating Expense	69	83	80	64	69
Total Operating Expense	1,348	1,260	1,192	1,322	1,235
Other Expense (Income)	14	−6	9	10	16
Gain on Asset Sales and Abandonments, net	−97	−25	−132	−9	−42
Loss on Debt Extinguishment	842,000	7	0	23	34
Interest Expense	171	151	143	128	—
Total Other Expense	88	127	20	152	158
Total Costs and Expenses	1,436	1,387	1,212	1,473	1,393
Income (Loss) Before Income Tax	803	−120	2,223	−212	−637
Income Tax Expense (Benefit)	170	−30	502	−70	−138
Net Income (Loss)	633	−90	1,721	−142	−499
Basic (in usd per share)	4.48	−0.6	10.59	−0.75	−2.31
Diluted (in usd per share)	3.98	−0.6	8.99	−0.75	−2.31
Dividends Declared Per Share (in usd per share)	0	0	0	0	0

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-05-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and Cash Equivalents	779,000	—	17	443,000	21
Restricted Cash	13	10	38	0	—
Trade, net (Note 17)	265	—	180	116	348
Other Receivables, net	61	—	18	18	6
Supplies Inventories	26	—	15	20	27
Derivative Instruments (Note 19)	106	—	88	253	154
Prepaid Expenses	19	—	16	15	16
Total Current Assets	490	—	371	422	574
Property, Plant and Equipment	14,057	—	13,038	12,537	11,908
LessAccumulated Depreciation, Depletion and Amortization	6,194	—	5,654	5,194	4,811
Total Property, Plant and EquipmentNet	7,863	—	7,384	7,343	7,097
Operating Lease Right-of-Use Assets (Note 13)	150	—	99	139	175
Derivative Instruments (Note 19)	134	—	160	281	245
Goodwill (Note 9)	323	—	323	323	323
Other Intangible Assets (Note 9)	57	—	64	70	77
Other	75	—	111	48	25
Total Other Non-Current Assets	741	—	757	862	25
TOTAL ASSETS	9,094	—	8,512	8,627	8,516
Accounts Payable	159	—	123	147	191
Derivative Instruments (Note 19)	378	—	355	61	783
Current Portion of Finance Lease Obligations (Note 13)	5	—	4	2	881,000
Current Portion of Long-Term Debt (Note 12)	208	—	328	326	0
Current Portion of Operating Lease Obligations (Note 13)	48	—	51	54	47
Other Accrued Liabilities (Note 11)	326	—	261	233	290
Total Current Liabilities	1,124	—	1,123	823	1,313
Long-Term Debt (Note 12)	2,213	—	1,838	1,889	2,206
Finance Lease Obligations (Note 13)	25	—	21	6	2
Operating Lease Obligations (Note 13)	105	—	50	90	132
Derivative Instruments (Note 19)	158	—	430	527	1,517
Deferred Income Taxes (Note 6)	857	—	696	729	232
Asset Retirement Obligations (Note 7)	163	—	119	105	89
Other	111	—	138	98	74
Total Non-Current Liabilities	3,633	—	3,291	—	—
TOTAL LIABILITIES	4,757	—	4,414	4,266	5,565
Common Stock, $0.01 Par Value; 500,000,000 Shares Authorized, 142,590,509 Issued and Outstanding at December 31, 2025; 148,879,640 Issued and Outstanding at December 31, 2024	1	—	1	2	2
Capital in Excess of Par Value	2,357	—	2,349	2,385	2,506
Preferred Stock, 15,000,000 Shares Authorized, None Issued and Outstanding	0	—	0	0	0
Retained Earnings	1,984	—	1,753	1,982	449
Accumulated Other Comprehensive Loss	−6	—	−6	−7	−7
TOTAL STOCKHOLDERS' EQUITY	4,337	—	4,098	4,361	2,950
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	9,094	—	8,512	8,627	8,516

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of Deferred Financing Costs	11	11	9	8	27
Stock-Based Compensation	24	20	20	16	17
Gain on Asset Sales and Abandonments, net	−97	−25	−132	−9	−42
Loss on Other Derivative Instruments	0	1	3	−10	−8
Net Cash (Paid) Received in Settlement of Commodity Derivative Instruments	−144	308	80	−1,735	−539
Deferred Income Taxes	161	−34	497	−76	−138
Other	2	1	−2	6	−1
Accounts and Notes Receivable	−67	−60	223	−20	−184
Supplies Inventories	−12	5	7	−21	1
Prepaid Expenses	−3	−675,000	1	−252,000	−3
Changes in Other Assets	23	−47	75,000	21	−24
Accounts Payable	22	−4	−55	54	3
Accrued Interest	5	2	7	710,000	9
Other Operating Liabilities	19	21	−67	−267,000	107
Changes in Other Liabilities	−26	42	−3	−5	19
Net Cash Provided by Operating Activities	1,029	816	815	1,235	926
Capital Expenditures	−495	−540	−679	−566	−466
Proceeds from Asset Sales	108	61	170	37	45
Investment in Equity Affiliates	4	−5	0	—	—
Apex Acquisition (Net of Cash Acquired)	−518	0	0	—	—
Net Cash Used in Investing Activities	−901	−484	−509	−528	−421
Payments on Long-Term Notes	0	−357	0	−386	−421
Payments on Other Debt	−4	−2	−2	−665,000	−3
Proceeds from Issuance of Common Stock	2	3	2	1	5
Shares Withheld for Taxes	−14	−18	−10	−6	−5
Purchases of Common Stock	−524	−184	−320	−565	−245
Debt Issuance and Financing Fees	−1	−15	−356,000	−3	−14
Net Cash Used in Financing Activities	−170	−277	−326	−689	−524
Net (Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash	−42	55	−21	18	−18

Filings

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