CNX Resources Corp (CNX)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	-120,362	712,642	649,323	1,301,288	2,222,925	2,840,270	2,554,313	1,964,515	-211,941	-561,584	-1,527,319	-2,020,419	-636,515	-1,279,044	-312,571	-40,790	-657,862	-1,243,845	-813,428	-435,765
Revenue (ttm)	US$ in thousands	1,266,787	2,098,976	2,025,269	2,543,526	3,434,953	4,103,016	3,869,571	3,450,289	2,987,605	2,641,965	3,151,913	3,143,144	2,802,921	2,138,434	1,577,500	1,314,692	1,257,978	1,136,022	1,599,944	2,056,135
Pretax margin		-9.50%	33.95%	32.06%	51.16%	64.71%	69.22%	66.01%	56.94%	-7.09%	-21.26%	-48.46%	-64.28%	-22.71%	-59.81%	-19.81%	-3.10%	-52.30%	-109.49%	-50.84%	-21.19%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-120,362K ÷ $1,266,787K
= -9.50%

CNX Resources Corp's pretax margin experienced significant fluctuations over the analyzed periods. The company posted negative pretax margins for the majority of the quarters, with some periods showing steep declines, such as in September 2020 and March 2022. However, there was a notable turnaround starting from March 2023, with the pretax margin steadily increasing to positive levels. By the end of December 2024, the pretax margin had improved to 33.95%, indicating a positive trend in the company's profitability before the final quarter, where a negative margin of -9.50% was recorded. Overall, CNX Resources Corp appears to have navigated through challenging periods to achieve positive pretax margins in the more recent quarters.