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CNX Coal reports preliminary net income of more than $3.3M in Q3'17

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CNX Coal reports preliminary net income of more than $3.3M in Q3'17

CNX Coal Resources LP reported an estimated $3.3 million to $3.9 million in net income for the third quarter compared to $6.4 million in the year-ago period.

The company reported preliminary estimated results in a securities filing on Oct. 16 ahead of its official earnings report. CONSOL Energy Inc., the owner of the partnership, has said it intends to separate the two entities into two publicly traded companies this year. The preliminary results were generated to satisfy various financing agreements in connection with the spinoff.

CNX Coal sold between 1.5 million tons and 1.7 million tons of coal in the quarter, according to the report. The average price per ton during the period was between $44.00 per ton and $44.30 per ton.

Adjusted EBITDA was expected to be between $17.5 million and $19.5 million.