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consol energy inc (CNX) Key Developments

CONSOL Energy Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Reports Productions Results for the Year 2014; Provides Production and Capital Expenditure Guidance for the Year 2015

CONSOL Energy Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net income attributable to the company's shareholders of $74 million or $0.32 per diluted share. This is compared to net income attributable to the company's shareholders of $738 million, or $3.20 per diluted share from the year-earlier quarter, which included income from discontinued operations of $591 million. After including -- excluding the one time items, the company’s adjusted net income was $58 million and $0.25 per diluted share. Adjusted EBITDA from continuing operations was $262 million compared to $179 million in the year-earlier quarter. Cash flow from operations was $87 million, as compared to $70 million in the year-earlier quarter. Earnings before interest & taxes were $132.247 million against $71.135 million a year ago. EBITDA from continuing operations was $287.767 million against $193.420 million a year ago. Total revenue and other income was $935.665 million against $825.231 million a year ago. Earnings before income tax were $79.698 million against $15.875 million a year ago. Income from continuing operations was $73.666 million or $0.32 per diluted share against $146.595 million or $0.64 per diluted share a year ago. Net cash provided by operating activities was $86.609 million against $69.777 million a year ago. Capital expenditures were $318.818 million against $482.722 million a year ago. For the year, the company reported total revenue and other income of $3,726.804 million against $3,299.685 million a year ago. Earnings before income tax were $183.124 million against $46.075 million a year ago. Income from continuing operations was $168.777 million or $0.73 per diluted share against 79.264 million or $0.35 per diluted share a year ago. Net income attributable to the company's shareholders was $163.090 million or $0.70 per diluted share against $660.442 million or $2.87 per diluted share a year ago. Net cash provided by operating activities was $936.780 million against $658.776 million a year ago. Capital expenditures were $1,493.425 million against $1,496.056 million a year ago. The company's annual 2014 production was 235.7 Bcfe, which exceeded its goal of 30% production growth over 2013. The company's annual gas production guidance remains 30% growth for 2015 and 2016. In 2015, the company expects to invest approximately $1.0 billion in its E&P Division, while maintaining its 30% year-over-year production growth targets for 2015 and 2016. In addition to E&P capital, in 2015 the company also expects to invest $220 million in the coal division: $160 million in maintenance of production capital, and $60 million in land, safety, water, terminal operations, and other miscellaneous categories.

Religious Objections Carry Lawsuit against CONSOL Energy Inc

After a two-year legal battle filled with Bible quotes and meditations on the Antichrist, Consol Energy Inc. was found to have wronged a 30-year employee by not accommodating his objections over a hand scanner. Beverly Butcher Jr. of West Virginia was working at Consol's Robinson Run Mine in 2012 when the company installed the scanners to track employees' comings and goings for payroll purposes. Mr. Butcher, who started at the mine in 1977 and with Consol two years earlier, said he feared the scanner would imprint him with the 'mark of the Beast,' a reference to a passage from the book of Revelations in the Bible. When he approached human resources officials at the company to discuss alternative options, they showed him a letter from the scanner manufacturer, Recognition Systems Inc., which, using all capital letters, attempted to make clear that its hand scanners 'do not in any way have the ability to detect or place the 'mark of the Beast' or any other mark on a person's hand.

CONSOL Energy Inc. to Report Q4, 2014 Results on Jan 30, 2015

CONSOL Energy Inc. announced that they will report Q4, 2014 results at 10:00 AM, US Eastern Standard Time on Jan 30, 2015

CONSOL Energy Inc., Q4 2014 Earnings Call, Jan 30, 2015

CONSOL Energy Inc., Q4 2014 Earnings Call, Jan 30, 2015

Consol Energy Inc. Announces Management Changes

CONSOL Energy Inc. announced Brian Aiello said about Harvey's move to retire six months after he stepped down as CEO. Nick DeIuliis, who replaced Harvey in May, will remain CEO.

 

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