Consol Energy Q1 Profit Down - Quick Facts

(RTTNews) - Consol Energy Inc. (CNX) reported first-quarter net income of $79 million or $0.34 per share, compared to net income of $116 million, or $0.50 per share from the year-earlier quarter, which included a loss from discontinued operations of $6 million.

After adjusting for certain one-time items, the company had adjusted net income in the 2015 first quarter of $85 million, or $0.37 per share.

Total Revenue and other income dropped to $889.59 million from $969.15 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.13 per share and revenues of $886.52 million. Analysts' estimates typically exclude special items.

CONSOL's E&P Division had another outstanding quarter by achieving record production of 71.6 Bcfe, or an increase of 48% from the 48.4 Bcfe produced in the year-earlier quarter. CONSOL Energy's annual gas production guidance remains at 30% growth for 2015 and 20% for 2016.

CONSOL said it remains on-track to execute the previously announced transactions for a thermal coal MLP and MetCo initial public offering (IPO). The company recently filed a registration statement on Form S-1 with the Securities and Exchange Commission for the thermal coal MLP, which will be known as CNX Coal Resources LP ("CNXC"), and CONSOL continues to expect a mid-year 2015 IPO. The company continues to expect the MetCo IPO to occur around early fourth quarter 2015.