CONSOL Energy Earnings Cheat Sheet: Superb Quarterly Results

S&P 500 (NYSE:SPY) component CONSOL Energy Inc. (NYSE:CNX) reported its results for the first quarter. Consol Energy, Inc. is a coal and gas energy producer and energy services provider that mainly serves the electric power generation industry in the United States.

Don’t Miss: Wall St. Cheat Sheet’s newest Feature Trades of the Month!

CONSOL Energy Earnings Cheat Sheet for the First Quarter

Results: Net income for the industrial metals and minerals company rose to $192.1 million (84 cents/share) vs. $100.3 million (54 cents/share) in the same quarter a year earlier. A rise of 91.6% from the year earlier quarter.

Revenue: Rose 18.2% to $1.47 billion YoY.

Actual vs. Wall St. Expectations: CNX beat the mean analyst estimate of 80 cents/share. Estimates ranged from 67 cents per share to 97 cents per share.

Quoting Management: “CONSOL Energy had a superb quarter, by nearly any measure,” commented J. Brett Harvey, chairman and chief executive officer. “Our coal and gas operations continued to show improved results in safety, with incidence rates down 28% from the year-earlier quarter. We also exceeded our expectations on coal production. Our sales team sold a record 1.1 million tons of Bailey coal into the high-vol coking coal market. We also locked in additional low-vol Buchanan tonnage at an annual price of $290 per (metric) tonne, FOBT.”

Key Stats: Last quarter’s profit increase breaks a streak of four consecutive quarters of year-over-year profit drops. In fourth quarter of the last fiscal year, net income fell 27% from the year earlier while the figure fell 13.7% in the third quarter of the last fiscal year, 41.2% four quarters ago and 48.8% five quarters back.

Gross margins grew 10 percentage points to 44.5%. The growth seemed to be driven by increased revenue, as the figure rose 18.2% from the year earlier quarter while costs rose 0.1%.

Over the last five quarters, revenue has increased 15.1% on average year over year. The biggest increase came in the third quarter of the last fiscal year, when revenue rose 23.3% from the year earlier quarter.

Competitors to Watch: Peabody Energy Corporation (NYSE:BTU), Arch Coal, Inc. (NYSE:ACI), Alliance Holdings GP, L.P. (NASDAQ:AHGP), Intl. Coal Group, Inc. (NYSE:ICO), Patriot Coal Corporation (NYSE:PCX), Massey Energy Company (NYSE:MEE), Natural Resource Partners LP (NYSE:NRP), Alpha Natural Resources, Inc. (NYSE:ANR), James River Coal Company (NASDAQ:JRCC), and Oxford Resource Partners, LP (NYSE:OXF).

Today’s Performance: Shares of CNX are trading at $51.89 as of April 28, 2011 at 10:20 AM ET, up over 1.5% from the previous close.

Don’t Miss Wall St. Cheat Sheet’s newest Feature Trades of the Month!