CNX Resources Corp
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Energy : Oil, Gas & Consumable Fuels | Small Cap Value
Company profile

CNX Resources Corporation (CNX) is an oil and gas company. The Company focused on the exploration, development, production, gathering, processing and acquisition of natural gas properties primarily in the Appalachian Basin. The Company develops and explores for natural gas in Appalachia (Pennsylvania, West Virginia, Ohio, and Virginia). Its primary focus is in the development of its Marcellus Shale acreage and delineation and development of Utica Shale acreage. Its operations are located throughout Appalachia. CNX owns or operates approximately 2,600 miles of natural gas gathering pipelines as well as several natural gas processing facilities. CNX consists of two principal business divisions: Exploration and Production (E&P) and Midstream. The principal activity of the E&P Division includes four segments which, is to produce pipeline natural gas for sale primarily to gas wholesalers.

Closing Price
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-0.10 (-0.87%)
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Burlington Stores posts smaller-than-expected loss but sales tumble 39% in pandemic to fall short of estimates

6:57 am ET August 27, 2020 (MarketWatch)

Burlington Stores Inc. (BURL) reported a smaller-than-expected loss for the second quarter, but sales tumbled 39% to fall short of estimates as stores were shuttered during the pandemic. The company swung to a loss of $46.8 million, or 71 cents a share, in the quarter, after income of $85 million, or $1.26 a share, in the year-earlier period. The company's adjusted per-share loss came to 56 cents, compared with a FactSet consensus for a loss of $1.06 a share. Sales fell to $1.010 billion, below the FactSet consensus of $1.126 billion. Sales in re-opened stores fell 14% from the date of reopening to end of the quarter. "The second quarter had some highs and some lows," Chief Executive Michael O'Sullivan said in a statement. "The pace of our re-opening sales significantly exceeded our expectations, and we turned our aged spring merchandise very rapidly." The company is expecting business to pick up as soon as it replenishes its inventory, but expects continued risk in the third quarter. It is not offering profit and sales guidance because of the uncertainty created by the pandemic. "We have plenty of liquidity and we will use this to support opportunistic buys of fall merchandise and of pack and hold inventory that we will flow to stores next year," said O'Sullivan. The company had $1.197 billion in liquidity at quarter-end. Shares were not yet active premarket, but have fallen 14% in the year to date, while the S&P 500 has gained 7.7%.

-Ciara Linnane; 415-439-6400;

(END) Dow Jones Newswires

August 27, 2020 06:57 ET (10:57 GMT)

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