CNX Raises 2020 FCF Guidance - Quick Facts

(RTTNews) - CNX Resources Corp. (CNX) said it expects full year EBITDAX to be modestly above the high-end of the prior guidance range of $830-$900 million. Capital expenditures are anticipated near the midpoint of the guidance range of $470-$550 million. The company's 2020 FCF guidance was increased to approximately $350 million from prior guidance of $300 million.

CFO Don Rush said, "While our near-term free cash flow allocation plan will continue to focus on debt reduction until we achieve a 1.5x leverage ratio, we are continuously evaluating our future capital allocation options, including direct shareholder returns in the form of buy backs and dividends, accelerating future development and/or other strategic plans that create value for our shareholders."