Jun 2026 (Q2 FY26) — Jul 30, 2026
CNX Resources Q2 FY26 — 45Z Credit Monetization Uplift and Strategic Capital Allocation
Read the full callCNX Resources earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 618 | −35.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 203 | −53.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
3 of 3 judged targets kept · 16 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 45Z clean fuel production credit annual monetization run rate | $30 million a year run rate | Sep 2025 | raised the value of our annual monetization to approximately $40 million a year | Revised Up |
| 45Z credit monetization cash received | approximately $30 million of credits sold, cash landing in Q3 2026 | Jun 2026 | you'll see it come through in the cash flow in Q3 | New |
16 of CNX Resources Corp's 19 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 17 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $31.99 on 17 Oct 2025 → $35.68. High $42.61 (5 Mar 2026), low $31.17 (30 Sept 2026).
Overview
Guidance
3 of 3 judged targets kept · 16 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 45Z clean fuel production credit annual monetization run rate | $30 million a year run rate | Sep 2025 | raised the value of our annual monetization to approximately $40 million a year | Revised Up |
| 45Z credit monetization cash received | approximately $30 million of credits sold, cash landing in Q3 2026 | Jun 2026 | you'll see it come through in the cash flow in Q3 | New |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 19 tracked commitments, with each call’s wording and source.
Call summaries
CNX Resources Q2 FY26 — 45Z Credit Monetization Uplift and Strategic Capital Allocation
Read the full callEvery analysed call
Financials
Net profit, year on year: −53% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 424 | 137 | 82 | 962 | 584 | 610 | 787 | 618 |
| Expenses | 342 | 331 | 355 | 377 | 318 | 386 | 358 | 382 |
| Other income | -23 | -8 | -36 | -30 | 23 | -45 | -47 | -41 |
| Interest | 38 | 37 | 42 | 44 | 43 | 42 | 40 | 39 |
| Net profit | 66 | -145 | -198 | 433 | 202 | 196 | 348 | 203 |
| EPS ($ per share) | 0.44 | — | -1.34 | 3.02 | 1.45 | — | 2.45 | 1.37 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 |
| Reserves | 2,072 | 1,972 | 1,476 | 878 | 449 | 1,982 | 1,753 | 1,984 |
| Total liabilities | 3,510 | 4,098 | 3,619 | 4,400 | 5,565 | 4,266 | 4,414 | 4,757 |
| Fixed assets | 6,942 | 7,137 | 7,026 | 6,989 | 7,097 | 7,343 | 7,384 | 7,863 |
| Total assets | 8,592 | 9,061 | 8,042 | 8,101 | 8,516 | 8,627 | 8,512 | 9,094 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 886 | 981 | 795 | 926 | 1,235 | 815 | 816 | 1,029 |
| Cash from investing | -895 | -1,147 | -439 | -421 | -528 | -509 | -484 | -901 |
| Cash from financing | -483 | 166 | -351 | -524 | -689 | -326 | -277 | -170 |
| Net cash flow | -492 | -1 | 5 | -18 | 18 | -21 | 55 | -42 |
| Capital expenditure | -1,116 | -1,193 | -487 | -466 | -566 | -679 | -540 | -495 |
| Free cash flow | -231 | -212 | 308 | 460 | 669 | 135 | 275 | 534 |
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Shale | 81% | 32% | 512% | 47% | 70% | 79% | 84% | 68% | -7.4% |
| Coalbed Methane | 7% | 8% | 44% | 3% | 6% | 7% | 7% | 5% | -4.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
71 filings between Nov 18, 2025 and Sep 24, 2026.
Purchases
None
No insider bought shares.
Sales
$3.91M
4 sales by 3 insiders
Also filed: 22 gifts.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| LANIGAN BERNARD JR | — | $1.87M | Feb 19, 2026 |
| Thorndike William N Jr | — | $1.10M | May 4, 2026 |
| Lally-Green Maureen | — | $933.8K | Mar 23, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 24, 2026 | Lally-Green Maureen Director | Gift | 17,377 | $0 |
| Sep 24, 2026 | Lally-Green Maureen Director | Gift | 17,377 | $0 |
| Sep 2, 2026 | DEIULIIS NICHOLAS J Director | Gift | 528,000 | $0 |
| Sep 2, 2026 | DEIULIIS NICHOLAS J Director | Gift | 528,000 | $0 |
| Aug 13, 2026 | Shepard Alan K President & CEO | Tax withheld | 17,297 | $612.0K |
| Aug 13, 2026 | Behl Navneet Chief Operating Officer | Option exercise | 39,771 | $0 |
| Aug 13, 2026 | Shepard Alan K President & CEO | Option exercise | 39,771 | $0 |
| Aug 13, 2026 | Behl Navneet Chief Operating Officer | Tax withheld | 17,297 | $612.0K |
| Aug 4, 2026 | MCGUIRE IAN R Director | Gift | 43,307 | $0 |
| Aug 4, 2026 | MCGUIRE IAN R Director | Gift | 86,614 | $0 |
| Aug 4, 2026 | MCGUIRE IAN R Director | Gift | 43,307 | $0 |
| Jun 18, 2026 | Clarkson J. Palmer Director | Option exercise | 10,000 | $155.5K |
| Jun 18, 2026 | Clarkson J. Palmer Director | Option exercise | 12,129 | $164.8K |
| Jun 2, 2026 | MCGUIRE IAN R Director | Gift | 19,155 | $0 |
| Jun 2, 2026 | MCGUIRE IAN R Director | Gift | 19,155 | $0 |
| May 8, 2026 | MCGUIRE IAN R Director | Gift | 67,459 | $0 |
| May 8, 2026 | MCGUIRE IAN R Director | Gift | 67,459 | $0 |
| May 7, 2026 | MCGUIRE IAN R Director | Award | 9,466 | $0 |
| May 7, 2026 | LANIGAN BERNARD JR Director | Award | 5,568 | $0 |
| May 7, 2026 | Agbede Robert Director | Award | 5,568 | $0 |
| May 7, 2026 | Clarkson J. Palmer Director | Gift | 200 | $0 |
| May 7, 2026 | DEIULIIS NICHOLAS J Director | Award | 8,352 | $0 |
| May 7, 2026 | Clarkson J. Palmer Director | Gift | 200 | $0 |
| May 7, 2026 | Clarkson J. Palmer Director | Gift | 200 | $0 |
| May 7, 2026 | Clarkson J. Palmer Director | Gift | 200 | $0 |
| May 7, 2026 | Clarkson J. Palmer Director | Gift | 200 | $0 |
| May 7, 2026 | Clarkson J. Palmer Director | Gift | 1,000 | $0 |
| May 7, 2026 | Clarkson J. Palmer Director | Award | 5,568 | $0 |
| May 7, 2026 | Thorndike William N Jr Director | Award | 8,770 | $0 |
| May 7, 2026 | Lally-Green Maureen Director | Award | 9,048 | $0 |
| May 4, 2026 | Thorndike William N Jr Director | Sale | 28,800 | $1.10M |
| May 4, 2026 | Thorndike William N Jr Director | Option exercise | 83,097 | $1.10M |
| Mar 23, 2026 | Lally-Green Maureen Director | Sale | 110 | $4.4K |
| Mar 23, 2026 | Lally-Green Maureen Director | Sale | 23,521 | $929.4K |
| Mar 23, 2026 | Lally-Green Maureen Director | Option exercise | 29,915 | $394.5K |
| Feb 19, 2026 | LANIGAN BERNARD JR Director | Option exercise | 46,119 | $608.1K |
| Feb 19, 2026 | LANIGAN BERNARD JR Director | Sale | 46,119 | $1.87M |
| Feb 2, 2026 | DEIULIIS NICHOLAS J Director | Tax withheld | 23,831 | $890.3K |
| Jan 30, 2026 | Good Everett W Chief Financial Officer | Award | 105 | $0 |
| Jan 30, 2026 | Good Everett W Chief Financial Officer | Award | 128 | $0 |
| Jan 30, 2026 | DEIULIIS NICHOLAS J Director | Award | 101,609 | $0 |
| Jan 30, 2026 | DEIULIIS NICHOLAS J Director | Award | 4,845 | $0 |
| Jan 30, 2026 | DEIULIIS NICHOLAS J Director | Award | 6,239 | $0 |
| Jan 30, 2026 | Behl Navneet Chief Operating Officer | Tax withheld | 26,949 | $1.05M |
| Jan 30, 2026 | Behl Navneet Chief Operating Officer | Award | 54,192 | $0 |
| Jan 30, 2026 | DEIULIIS NICHOLAS J Director | Tax withheld | 49,350 | $1.91M |
| Jan 30, 2026 | Behl Navneet Chief Operating Officer | Award | 4,441 | $0 |
| Jan 30, 2026 | Behl Navneet Chief Operating Officer | Award | 3,328 | $0 |
| Jan 30, 2026 | Shepard Alan K President & CEO | Tax withheld | 28,337 | $1.10M |
| Jan 30, 2026 | Shepard Alan K President & CEO | Award | 57,579 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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