CNX — what changed in the latest 10-Q
A section-by-section comparison of CNX's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-04-30 vs the prior 10-Q · 2025-10-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +37 | −100 | ~74 | 53 |
| Market risk (Item 3) | Text added/removed | +1 | 0 | ~4 | 6 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-04-30
Results of Operations - Three Months Ended March 31, 2026 Compared with Three Months Ended March 31, 2025
CNX had net income of $348 million, or earnings per diluted share of $2.18, for the three months ended March 31, 2026, compared to a net loss of $198 million, or loss per diluted share of $1.34, for the three months ended March 31, 2025.
Included in the earnings for the three months ended March 31, 2026 was an unrealized gain on commodity derivative instruments of $226 million and a net gain on asset sales and abandonments of $6 million. Included in the loss for the three months ended March 31, 2025 was an unrealized loss on commodi…
•Production, ad valorem, and other fees increased on a per unit basis primarily due to the higher sales price in the period to period comparison.
•Transportation, gathering and compression expense increased on a per unit basis primarily due to higher repairs and maintenance expense and increased utilization of firm transportation capacity as volumes in our central Pennsylvania operating area have increased. The per unit increases were offset,…
Text removed vs the prior filing · source: 10-Q · 2025-10-30
During the nine months ended September 30, 2025, CNX completed the acquisition of Apex Energy II, LLC, ("the Apex Transaction") (see Note 4 – Acquisitions and Dispositions in the Notes to the Unaudited Consolidated Financial Statements in Item 1 of this Form 10-Q for additional information). The Ape…
On September 30, 2025, CNX entered into an agreement to acquire Utica Shale oil and gas rights, across approximately 23,000 nearly contiguous acres, that sit beneath the Apex Energy footprint. The cost of the acquisition will be approximately $50 million to be paid equally over a three-year period s…
On July 4, 2025, the United States enacted into law the One, Big, Beautiful Bill Act ("OBBBA"). The OBBBA, which, among other things, allows for 100% bonus depreciation on a permanent basis for property acquired and placed in service on or after January 19, 2025, permanently reinstates the EBITDA li…
Results of Operations - Three Months Ended September 30, 2025 Compared with Three Months Ended September 30, 2024
CNX reported net income of $202 million, or earnings per diluted share of $1.21, for the three months ended September 30, 2025, compared to net income of $66 million, or earnings per diluted share of $0.37, for the three months ended September 30, 2024.
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-04-30
Note: Table excludes basis only hedges of 24.5 Bcf for 2029.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice