Coal producer Core Natural Resources (NYSE:CNR) will be reporting results this Thursday before market open. Here’s what investors should know.
Core Natural Resources met analysts’ revenue expectations last quarter, reporting revenues of $1.08 billion, up 6.6% year on year. It was a very strong 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 1.8% year on year, slowing from the 125% 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 Q2 results, giving us a hint as to what we can expect. Vitesse Energy delivered year-on-year revenue growth of 11.3%, beating analysts’ expectations by 8.2%, and Kosmos Energy reported revenues up 54.6%, topping estimates by 28.4%. Vitesse Energy’s stock price was unchanged after the resultswhile Kosmos Energy was down 8.9%.
Read our full analysis of Vitesse Energy’s results here and Kosmos Energy’s results here.
There has been positive sentiment among investors in the mixed or offshore upstream e&p segment, with share prices up 6.7% on average over the last month. Core Natural Resources’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $105.25 (compared to the current share price of $81.09).
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