Coal producer Core Natural Resources (NYSE: CNR) will be reporting earnings this Thursday before market open. Here’s what you need to know.
Core Natural Resources beat analysts’ revenue expectations last quarter, reporting revenues of $1.14 billion, up 3.5% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates.
Is Core Natural Resources a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Core Natural Resources’s revenue to grow 14.2% year on year, slowing from the 81.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Core Natural Resources has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Core Natural Resources’s peers in the mixed or offshore upstream e&p segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Talos Energy delivered year-on-year revenue growth of 27.7%, beating analysts’ expectations by 7.3%, and Black Stone Minerals reported a revenue decline of 24.7%, falling short of estimates by 12.6%. Black Stone Minerals’s stock price was unchanged following the results.
Read our full analysis of Talos Energy’s results here and Black Stone Minerals’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the mixed or offshore upstream e&p stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.2% on average over the last month. Core Natural Resources is down 8.3% during the same time and is heading into earnings with an average analyst price target of $110.50 (compared to the current share price of $83.43).
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