Why CNX Resources Reported Higher Net Income in 1Q18

CNX Resources (CNX) announced its 1Q18 earnings on May 3 before the market opened. Per its earnings press release, CNX reported a better-than-expected profit of ~$50 million for 1Q18. Wall Street analysts were expecting a lower profit of ~$36 million. On a year-over-year basis, CNX’s profit increased ~32% from 1Q17’s profit of ~$38 million. Sequentially and excluding one-time items, CNX’s net income turned positive from a loss of ~$52 million in 4Q17.