CNX Resources Corp (CNX)
Pretax margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 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 | -52,993 | 347,027 | 364,294 | 171,938 |
| Revenue (ttm) | US$ in thousands | 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 | 1,918,207 | 1,845,120 | 1,708,346 | 1,496,904 |
| Pretax margin | 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% | -2.76% | 18.81% | 21.32% | 11.49% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $2,222,925K ÷ $3,434,953K
= 64.71%
CNX Resources Corp's pretax margin has fluctuated significantly over the past eight quarters, ranging from -74.01% in Q1 2022 to a high of 143.96% in Q3 2023. The company experienced a sharp improvement in profitability in Q3 2023, with a pretax margin of 143.96%, indicating that the company was able to generate considerable earnings before accounting for taxes. This improvement followed a period of inconsistent performance, including negative pretax margins in Q4 2022 and Q3 2022.
The positive pretax margin in Q3 2023 suggests that CNX Resources Corp was able to effectively control its operational costs and operating expenses while generating significant revenue. However, the company should continue to monitor and manage its expenses to ensure sustained profitability in the future. Additionally, it is essential for CNX Resources Corp to analyze the factors contributing to the significant fluctuations in its pretax margin to implement strategies that promote stable and long-term profitability.
Peer comparison
Dec 31, 2023