CNX Resources Corp (CNX)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 2,222,920 | -211,947 | -636,513 | -657,862 | -52,994 |
| Revenue | US$ in thousands | 3,434,950 | 1,261,210 | 756,792 | 1,257,980 | 1,922,450 |
| Pretax margin | 64.71% | -16.81% | -84.11% | -52.30% | -2.76% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $2,222,920K ÷ $3,434,950K
= 64.71%
CNX Resources Corp's pretax margin has exhibited significant fluctuations over the past five years. In 2023, the pretax margin improved substantially, reaching 64.71%, indicating that the company's profitability before taxes increased significantly compared to the previous year. This positive trend suggests effective cost management and operational efficiency.
However, in 2022, the company reported a negative pretax margin of -5.40%, indicating that CNX Resources Corp incurred losses before taxes during that period. This could be attributed to various factors such as increased expenses, lower revenue, or one-time charges impacting the profitability negatively.
In 2021 and 2020, the pretax margin remained negative, indicating persistent challenges in generating profits before taxes. The pretax margin was particularly low in 2020 at -55.56%, highlighting a substantial decline in profitability.
In contrast, in 2019, CNX Resources Corp reported a positive pretax margin of 3.86%, indicating that the company was able to generate profits before taxes, albeit at a lower level compared to 2023.
Overall, the analysis of the pretax margin highlights the company's varying ability to generate profits before considering tax implications, with significant improvements in 2023 compared to the previous years. It also underscores the importance of closely monitoring profitability metrics to assess the company's financial performance and sustainability.
Peer comparison
Dec 31, 2023