CNX Resources Updates Q2 2026 Earnings Guidance and Outlook
CNX Resources (NYSE: CNX) updated its financial guidance for 2026 during a July 30, 2026 earnings call. The company revised adjusted EBITDAX to $1,265 million–$1,315 million and free cash flow downward to approximately $525 million from earlier estimates of $550 million. Management also outlined capital expenditures between $556 million and $586 million for the year, with drilling activity expected to increase in Q3 before tapering off in Q4. The company highlighted progress on low-carbon initiatives, including a projected annual contribution of around $40 million from 45Z tax credits starting in 2027. Natural gas hedging remains strong at 81% for the year and unhedged prices are expected to face regional basis differentials. CNX also noted operational improvements such as record drilling performance, with two Utica wells drilled during Q2. Despite these updates, management expressed caution about near-term natural gas market conditions, noting potential softness in 2026–2027 and volatility in the Pennsylvania AEC market.
Tickers: $CNX
Topics: Capital Expenditures Credit Monetization EBITDAX Free Cash Flow Natural Gas Hedging