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Why CNX Resources Stock Is Surging Today

TheMotleyFool

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Why CNX Resources Stock Is Surging TodayPhoto, wide shot, wide-angle lens, Gas company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/01083d82-021d-4573-8c40-0e836a0771d6.png

Shares of CNX Resources (NYSE: CNX) rallied nearly 16% by 10:45 a.m. EDT on Tuesday. Fueling the natural gas driller's surge was its second-quarter earnings report.

CNX Resources reported $162 million, or $0.84 per share, of adjusted net income, which came in well ahead of the analysts' consensus estimate of $0.14 per share. That's because the company recorded an unrealized gain on commodity price hedges of $211 million during the quarter. After adjusting for one-time items, the company's net income was $0.06 per share.

Image source: Getty Images.

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