Exploration & Production | Top Story | Quarterly / Earnings Reports
Consol Touts Marcellus Pad Drilling Efficiencies in Q3; Gas Expansion
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CONSOL Energy Inc. reported a net loss for the quarter ended September 30, 2013 of $64 million, or a loss of $0.28 per diluted share, compared to a loss of $11 million, or $0.05 per diluted share from the year-earlier quarter.
Pre-tax income for the third quarter was $11 million. After adjusting for five discrete items, which are listed in the EBITDA reconciliation table, adjusted pre-tax income in the third quarter, a non-GAAP financial measure, was $22 million. The effective tax rate in the third quarter reflects an expectation of profitability in the 2013 fourth quarter. The effective tax rate of the company over the past three years has varied between 20 - 23%.
Adjusted EBITDA, which is a non-GAAP financial measure, was $244 million for the quarter ended September 30, 2013, compared…
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