Cnx Resources Corporation · NYSE:CNX
Cnx Resources — Q2 2022 Earnings Presentation
10 slides from Cnx Resources's earnings presentation, Jul 28, 2022
Slide 1: Q2 2022 Update
Cc Q2 2022 Update July 28, 2022
Slide 2: Q2 2022 Highlights
Q2 2022 Highlights “We built and now manage a low-risk, $700 million per year free cash flow annuity that works 2ND QUARTER SNAPSHOT(1) year after year," commented Nick Deiuliis, president and CEO. “Then we apply clinical math and allocate a significant portion of the free cash flow to reduce our sh
Slide 3: Energy Demand, Renewable Realities
Energy Demand, Renewable Realities Natural gas is not a bridge fuel – it’s a catalyst fuel. Despite decades of policy incentives and subsidies, renewables are just 6% of current energy production and unable to keep pace with growing demand. With the lowest GHG intensity, significant opportunity exis
Slide 4: Consecutive Quarters of Generating Significant FCF
10 Consecutive Quarters of Generating Significant FCF $700 ~$700 Free Cash Flow (FCF)(1) $600 10 consecutive quarters of $500 generating CNX has generated ~$1.2 billion in Free Cash significant FCF, Flow since beginning of 7-year plan $400 $ in millions used to return capital to shareholders and $30
Slide 5: Balance Sheet and Liquidity Strength
Balance Sheet and Liquidity Strength Significant liquidity under credit Maturities as of June 30, 2022(1) facilities – Combined elected 2500 9% commitments of $1.9 billion 7.8% 7.6% 7.2% 8% 2000 7% Undrawn Revolver 6% Capacity $ in millions 1500 Significant runway before $1,578 5% nearest bond matur
Slide 6: Balance Sheet and Hedge Book Drive Capacity to Retire Shares and Reduce Debt
Balance Sheet and Hedge Book Drive Capacity to Retire Shares and Reduce Debt 224.5 CNX has repurchased 37.3 million shares for $536 million(1) 189.5(1) since Q3 2020 for an average price of $14.39 Net debt excludes $13 million in premiums paid for repurchasing the 2026 convertible CNX has notes earl
Slide 7: 2022 Guidance Update
2022 Guidance Update PREVIOUS UPDATED 2022E Activity Summary 2022E 2022E Capex up $70MM based on the midpoint of the new guidance range, compared to ($ in millions) Low High Low High the high end of previous guidance range Total Capital Expenditures $470 - $500 $550 - $590 $25MM towards accelerating
Slide 8: Significant, Low-Risk Free Cash Flow Per Share Growth
Significant, Low-Risk Free Cash Flow Per Share Growth $8.00 31% CAGR Estimated FCF Per Share(1)(2) 2020-2022E FCF per share expected $7.00 CAGR of ~60% $6.00 $5.00 Sustainable business model drives $4.00 significant, consistent free cash flow generation $3.00 $2.00 FCF per share expected to double i
Slide 9: Q2 2022 GHG Emissions
Q2 2022 GHG Emissions Scope 1 CO2e Emissions Q2 2022 Consolidated Methane Intensity(1) (000 Metric Tons)(1) 0.120% One Future Production CY2020 Actual Combustion Equipment 82 Significantly 0.100% Natural Gas Pneumatic Venting 24 outperforming 0.080% industry Well Venting for Liquids Unloading 15 0.0
Slide 10: Investor Contacts & Notices
Investor Contacts & Notices transportation facilities and other midstream facilities owned by others; conditions in the oil and gas industry; our current long-term debt obligations, and the terms of the agreements that govern that debt; strategic determinations, including the allocation Investor Rel