CNX Resources Corp (CNX)

Days of sales outstanding (DSO)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Receivables turnover		25.64	44.91	35.48	23.92	8.42	5.45	6.95	11.72	8.27	8.20	9.37	8.35	8.37	13.99	8.36	9.45	9.15	15.42	6.82	5.31
DSO	days	14.24	8.13	10.29	15.26	43.33	66.94	52.51	31.15	44.16	44.49	38.96	43.71	43.60	26.10	43.64	38.62	39.88	23.67	53.48	68.71

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 25.64
= 14.24

To analyze CNX Resources Corp's Days of Sales Outstanding (DSO) based on the provided data, we calculate the average DSO for each period:

Q4 2023: 14.24 days
Q3 2023: 16.90 days
Q2 2023: 13.97 days
Q1 2023: 14.52 days
Q4 2022: 32.98 days
Q3 2022: 44.85 days
Q2 2022: 48.81 days
Q1 2022: 35.87 days

Average DSO for 2023: (14.24 + 16.90 + 13.97 + 14.52) / 4 ≈ 14.41 days
Average DSO for 2022: (32.98 + 44.85 + 48.81 + 35.87) / 4 ≈ 40.13 days

The trend indicates an improvement in DSO performance as it decreased from an average of 40.13 days in 2022 to 14.41 days in 2023. A lower DSO suggests that the company is collecting its accounts receivable more efficiently, which could indicate improved working capital management and stronger cash flows.

This improvement in DSO may be attributed to better credit control measures, effective collections, or changes in the company's customer base. However, it is important to continue monitoring the DSO trend to ensure ongoing efficiency in accounts receivable management and overall financial health.