Consol Energy Posts Q2 Loss

(RTTNews) - Consol Energy Inc. (CNX) reported a net loss for the second-quarter ended June 30, 2013 of $13 million, or a loss of $0.05 per share, compared to net income of $153 million, or $0.67 per share from the year-earlier quarter. The prior year's second quarter included gains due to several asset sales.

The company lost an adjusted $0.03 per share in the just-ended quarter, after adjusting for items not generally included in security analysts' estimates. The two major discrete items in this quarter were largely offsetting: a pre-tax loss of $23.3 million for additional expenses associated with the Blacksville Mine fire, and a $24.7 million pre-tax gain on the sale of assets.

Total Revenue and Other Income for the quarter declined to $1.22 billion from $1.45 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share and revenues of $1.21 billion for the quarter. Analysts' estimates typically exclude special items.