CONSOL Energy Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Reaffirms Production and Earnings Guidance for the Year 2017 and 2018
For the year, the company reported natural gas, NGLs and oil sales of $793,248,000 against $726,921,000 a year ago. Total revenue and other income was $2,026,375,000 against $3,114,401,000 a year ago. Loss from continuing operations before income tax were $525,955,000 against $475,705,000 a year ago. Loss from continuing operations was $535,965,000 or $2.38 per basic and diluted share against $350,266,000 or $1.57 per basic and diluted share a year ago. Net loss attributable to the company's shareholders was $848,102,000 or $3.70 per basic and diluted share against $374,885,000 or $1.64 per basic and diluted share a year ago. Net cash provided by operating activities was $469,285,000 against $505,849,000 a year ago. Capital expenditures were $226,820,000 against $982,934,000 a year ago.
The company re-affirms production and earnings guidance for the 2017 and 2018. The company expects E&P Division production guidance for 2017 and 2018 to be approximately 415 and 485 Bcfe, respectively, while E&P and midstream capital expenditures for 2017 and 2018 remains approximately $555 million and $600 million, respectively. EBITDA expected to be $910 million, adjusted EBITDA attributable to the company expected to be $865 million.