On wings of low-vol, CONSOL enjoys big Q3, sees further demand for Buchanan

摘要

Led in part by lucrative low-vol metallurgical coal sales (See today's Market Commentary), CONSOL Energy is wielding some serious lumber these days. The company reported $167 million of GAAP net income during Q3 - 73 cents/share - the second highest net income of any third quarter in its history, surpassed only by the 2005 quarter, when CONSOL recorded a $327 million gain from the sale of CNX Gas stock. Total CONSOL revenue of $1.4 billion was the highest ever achieved for the third quarter, most of the increase having come from the low-vol sales. The company also received higher prices for sales of high-vol and thermal coal.