Consol Energy reports second-quarter loss of $603.3 million

MarketsAssociated Press

Consol Energy Inc. (CNX) on Tuesday reported a loss of $603.3 million in its second quarter.

On a per-share basis, the Canonsburg, Pennsylvania-based company said it had a loss of $2.64. Losses, adjusted for non-recurring costs, were 37 cents per share.

Continue Reading Below

The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The natural gas company posted revenue of $648.9 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $794.9 million.

Consol shares have dropped 49 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has decreased 57 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNX at http://www.zacks.com/ap/CNX

_____

Keywords: Consol Energy, Earnings Report