Cnx Resources Corporation · NYSE:CNX
Cnx Resources — Q3 2023 Earnings Presentation
8 slides from Cnx Resources's earnings presentation, Oct 25, 2023
Slide 1: Q3 2023 Update
Q3 2023 Update October 25, 2023
Slide 2: Q3 2023 Highlights
Q3 2023 Highlights “The third quarter represented the 15th consecutive quarter of free cash flow generation," RESULTS SNAPSHOT(1) commented Nick Deiuliis, president and CEO. “Utilizing this free cash flow, we continued to repurchase shares, and cumulatively, since the inception of the buyback progra
Slide 3: CNX has Generated ~$1.8 Billion in Free Cash Flow since Q1 2020
CNX has Generated ~$1.8 Billion in Free Cash Flow(1) since Q1 2020 $400 Free Cash Flow (FCF)(1) ~$325 15 consecutive $300 quarters of $276 generating positive $234 FCF, used to return $ in millions capital to $200 shareholders and $158 pay down/manage $135 $129 $130 $135 debt $121 $117 $101 $100 $89
Slide 4: Balance Sheet and Hedge Book Drive Capacity to Retire Shares and Reduce Debt
Balance Sheet and Hedge Book Drive Capacity to Retire Shares and Reduce Debt ~31% reduction in total shares outstanding CNX has since Q3 2020 repurchased 69.0 million shares, at an 158.9(1) -11% CAGR, for $1.1 billion(1) since Q3 2020 at an average price of $15.58 CNX has reduced adjusted net debt(2
Slide 5: Balance Sheet and Liquidity Strength
Balance Sheet and Liquidity Strength Significant liquidity under credit Maturities as of September 30, 2023(1) facilities – Combined elected 2500 8.1% 7.8% 7.8% 7.9% commitments of $1.95 billion 8% 2000 7% Undrawn Revolver 6% Significant runway before Capacity $ in millions 1500 5% nearest bond matu
Slide 6: 2023 Guidance Update
2023 Guidance Update PREVIOUS UPDATED 2023E 2023E Expect production to be towards higher end of ($ in millions) Low High Low High guidance range Production Volumes (Bcfe) 545 - 555 545 - 555 % Liquids ~7% - ~8% ~7% - ~8% % of Natural Gas Hedged 85% 86% Reaffirming 2024 production volumes: Prices on
Slide 7: GHG Emissions
GHG Emissions Methane Intensity of Top US NG Basins CNX Methane Intensity by segment 0.06% The Appalachian Production G&B CNX is driving Basin is the lowest meaningful methane intensity 0.04% reductions on basin in the U.S. methane intensity emissions and 0.02% continues to target further progress 0
Slide 8: Investor Contacts & Notices
Investor Contacts & Notices and transportation facilities and other midstream facilities owned by others; conditions in the oil and gas industry; our current long-term debt obligations, and the terms of the agreements that govern that debt; strategic determinations, including Investor Relations Cont