$CEIX is up 4.5% in pre-market trading, having beat our near-consensus earnings assumptions pretty handily, reporting $1.96/sh in Net Income versus our estimate of $0.94/sh. The company sold 5.8 Mst of coal (versus MSHA-reported production of 5.28 Mst) and at a higher price ($66.83 vs $62.43) than anticipated given the softening of domestic NAPP thermal coal prices. Absolute banger of a quarter, considering all they had to fight through, and only going to get better this year. As such, I’ve pulled those prices forward and raised EPS estimates by $2/sh for Q3-4 to $10.69…total beast.
I think this company has an extraordinary team and management. They have shown to do the right things at each moment including the very challenging periods of Covid and the Baltimore bridge. Very confortable being a shareholder with Jimmy Brock at the helm and the rest of the team
I think this company has an extraordinary team and management. They have shown to do the right things at each moment including the very challenging periods of Covid and the Baltimore bridge. Very confortable being a shareholder with Jimmy Brock at the helm and the rest of the team
That guy is the best…will hopefully get to see him later tonight.
Let's hope he continues a few more years as I understand it he could be already retired but he agreed an extension (not sure till when)
Good on you Matt. It sure is easier being a coal investor with you around