CONSOL Energy up 5% Pre-Market on Strong Q4 Earnings
CONSOL Energy (NYSE: CNX) is trading higher pre-market following its Q4 earnings announcement. The company reported EPS of $0.70 vs $0.65 estimate and revenues of $1.54 billion vs $1.45 billion estimate.
J. Brett Harvey, CONSOL Energy chairman and CEO stated: "In our Coal Division for 2011, we were able to combine reliable operations with astute marketing to generate record net income. Our record results were even more impressive when one realizes that, on the gas side, weakening gas prices throughout 2011 largely offset our record gas production. For CONSOL, 2011 was a year characterized by our ability to seize opportunities and, in some cases, to create opportunities." CONSOL Energy is trading at $37.50, up $1.63 or 4.54% pre-market.
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