CONSOL Energy Inc. (NYSE: CEIX) and CONSOL Coal Resources LP (NYSE: CCR) provided the following operational update today:
During the first quarter of 2020, CONSOL Energy Inc. (NYSE: CEIX) took several steps to reduce its outstanding indebtedness, enhance liquidity and supplement access to capital.
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Shares of CONSOL Coal Resources (NYSE:CCR) were unchanged in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share were down 98.15% year over year to $0.01, which may not compared to the estimate of $0.24.Revenue of $67,368,000 lower by 21.76% from the same period last year, which missed the estimate of $72,900,000.Looking Ahead CONSOL Coal Resources hasn't issued any earnings guidance for the time being.CONSOL Coal Resources hasn't issued any revenue guidance for the time being.Details Of The Call Date: May 11, 2020View more earnings on CCRTime: 06:05 PM ETWebcast URL: https://www.webcaster4.com/Webcast/Page/1952/34357Recent Stock Performance Company's 52-week high was at $17.60Company's 52-week low was at $4.50Price action over last quarter: down 42.73%Company Profile CONSOL Coal Resources LP is engaged in the thermal coal operations in Pennsylvania. The company's assets include interests in CONSOL energy's Pennsylvania mining complex, which consists of approximately three underground mines (Bailey Mine, Enlow Fork Mine, and Harvey Mine) and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States. All the operations of the group are conducted at a single mining complex located in the Northern Appalachian Basin in southwestern Pennsylvania.See more from Benzinga * Ready Capital: Q1 Earnings Insights * Recap: Gogo Q1 Earnings * Paratek Pharmaceuticals: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Board of Directors of CONSOL Coal Resources GP LLC, the general partner of CONSOL Coal Resources LP (NYSE: CCR), today announced a temporary suspension of quarterly cash distributions to all unitholders due to the ongoing uncertainty in the commodity markets driven by COVID-19 pandemic-related demand decline.
All participants will be in a listen-only mode [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Any forward-looking statements or comments we make about future expectations are subject to some risks, which we've outlined in our press releases or in our SEC filings, and are considered forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934.
Lower contribution from segments hurts CONSOL Coal's (CCR) first-quarter 2020 results.
Consol is conducting a deep cleaning of the Bailey Mine during this two-week period and also working to see if other employees had any exposure to the virus.
Moody's Investors Service, ("Moody's") downgraded long-term ratings for CONSOL Energy Inc., ("CONSOL") including the Corporate Family Rating ("CFR") to B2 from B1, based on expectations for deterioration in earnings and cash flow generation in 2020. "CONSOL Energy is moving aggressively to respond to a very challenging environment and preserve liquidity, but we expect financial performance will weaken and covenant compliance could be a challenge in the coming quarters," said Ben Nelson, Moody's Vice President -- Senior Credit Officer and lead analyst for CONSOL Energy, Inc.
CONSOL Energy Inc. (NYSE: CEIX) and CONSOL Coal Resources LP (NYSE: CCR) will each issue its fourth quarter earnings release before the market opens on Tuesday, February 11, 2020. These releases will be followed by a joint conference call hosted by members of the management team at 11:00 a.m. Eastern Time. A live webcast will be accessible on the 'Investor Relations' page of each website, www.consolenergy.com and www.ccrlp.com. An archive of the webcast will be available for at least 30 days after the event.
Only one local company has seen its share price increase since the market began to react to the realities of the COVID-19 pandemic.
Today, CONSOL Coal Resources LP (NYSE: CCR) (the "Partnership) reported financial and operating results for the quarter and year ended December 31, 2019.
On the call with me today are Jimmy Brock, our Chief Executive Officer; Mitesh Thakkar, our Interim Chief Financial Officer; and Jim McCaffrey, our Chief Commercial Officer. In his prepared remarks, Jimmy will provide a recap of our key achievements during the first quarter of 2020, specific insights on marketing and operations, and our response to the COVID-19 pandemic.
Today, CONSOL Coal Resources LP (NYSE: CCR) (the "Partnership") reported financial and operating results for the quarter ended March 31, 2020.
CONSOL Energy Inc. (NYSE: CEIX) and CONSOL Coal Resources LP (NYSE: CCR) will each issue its first quarter earnings release before the market opens on Monday, May 11, 2020. These releases will be followed by a joint conference call hosted by members of the management team at 11:00 a.m. Eastern Time. A live webcast will be accessible on the 'Investor Relations' page of each website, www.consolenergy.com and www.ccrlp.com. An archive of the webcast will be available for at least 30 days after the event.
Let's see if CONSOL Coal Resources LP (CCR) stock is a good choice for value-oriented investors right now from multiple angles.
The Board of Directors of CONSOL Coal Resources GP LLC, the general partner of CONSOL Coal Resources LP (NYSE: CCR), today announced a cash distribution of $0.5125 per unit to all limited partner unitholders and the related cash distribution to the holder of the general partner interest. The distribution to all unitholders of the Partnership will be made on February 14, 2020 to such holders of record at the close of business on February 10, 2020.
CONSOL Energy, Inc. (NYSE: CEIX) and CONSOL Coal Resources LP (NYSE: CCR) provided the following update regarding operations at the Bailey Mine and its response to positive COVID-19 cases:
Moody's Investors Service, ("Moody's") affirmed CONSOL Energy Inc.'s B1 Corporate Family Rating ("CFR"), B1-PD Probability of Default Rating, Ba3 senior secured ratings, and its B2 senior secured notes rating. The Speculative Grade Liquidity Rating was lowered to SGL-3 from SGL-2. "CONSOL Energy will need to move aggressively to preserve credit quality in a very challenging environment for thermal coal producers," said Ben Nelson, Moody's Vice President -- Senior Credit Officer and lead analyst for CONSOL Energy, Inc.
CONSOL Coal Resources LP (NYSE: CCR) has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 with the Securities and Exchange Commission (the "SEC").