CNX Resources (NYSE:CNX) released first-quarter financial results and hosted an earnings call on Thursday. Read the complete transcript below.
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The full earnings call is available at https://event.choruscall.com/mediaframe/webcast.html?webcastid=Uxdr1R4G
Summary
CNX Resources is continuing its Utica development, with recent well performance aligning with expectations, but detailed production data will be available later in the year.
The company is maintaining a focus on the Marcellus due to existing infrastructure benefits, though a gradual increase in Utica development is anticipated.
CNX Resources remains on track with its new tech business initiatives, with no significant updates and awaiting final guidance on 45Z.
The company has made a positive refinancing move for its 2029 notes with new eight-year notes, maintaining a strategy of extending maturity profiles.
Management expressed optimism about increasing in-basin demand, with expectations of significant gas demand growth in the Appalachian region.
Full Transcript
OPERATOR
Good day and welcome to the CNX Resources First Quarter 2026 Question and Answer Conference Call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today’s presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to hand the call to Tyler Lewis, Senior Vice President of Finance and Treasurer. Please go ahead.
Tyler Lewis (Senior Vice President of Finance and Treasurer)
Thank you and good morning, everybody. Welcome to CNX’s first quarter Q&A conference call. Today we will be answering questions related to our first quarter results. This morning we posted to our investor relations website an updated slide presentation and detailed first quarter earnings release data such as quarterly EP data, financial statements and non GAAP reconciliations which can be found in a document titled Q1 2026 Earnings Results and supplemental information of CNX Resources. Also, we posted to our investor relations website our prepared remarks for the quarter, which we hope everyone had a chance to read before the call, as the call today will be used exclusively for Q&A. With me today for Q&A are Alan Shepard, our President and Chief Executive Officer, Everett Good, our Chief Financial Officer, and Navneet Bell, our Chief Operating Officer. Please note that the company’s remarks made during this call, including answers to questions, include forward looking statements which are subject to various risks and uncertainties. These statements are not guarantees of future performance and our actual results may differ materially as a result of many factors. A discussion of risks and uncertainties related to those factors in CNX’s business is contained in its filings with the Securities and Exchange Commission and in the release issued today. With that, thank you for joining us this morning and operator, can you please open the call up for Q&A at this time?
OPERATOR
We will now begin the question and answer session. As a reminder to ask a question, you may press star then one on your telephone keypad. If you are using a speakerphone, you will need to pick up your handset before pressing the keys. To withdraw your question, please press Star then two. And our first question will come from Leo Mariani of Roth. Please go ahead.
Leo Mariani (Equity Analyst at Roth)
Yeah, hi, good morning. I was hoping to hear a little bit more about the Utica. I see you guys brought three wells on, you know, here in the first quarter. Any comments on kind of, well, performance or costs? I know you’ve been working hard to kind of continue to improve the play over time, so just wanted to see if there was kind of an update there.
Alan Shepard (President and Chief Executive Officer)
Hey Leo, you know. No, good question. We are continuing to develop the Utica program there. The most …
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