CNX Resources Corporation (NYSE:CNX) Q2 2022 Results Conference Call July 28, 2022 10:00 AM ET

Company Participants

Tyler Lewis - VP, IR

Nick DeIuliis - President and CEO

Alan Shepard - CFO

Chad Griffith - COO

Don Rush - Chief Strategy Officer

Ravi Srivastava - President, New Technologies

Conference Call Participants

Zac Parham - JPMorgan

Leo Mariani - MKM Partners

Neal Dingmann - Truist

Michael Scialla - Stifel

John Abbott - Bank of America

Operator

Good day, and welcome to the CNX Resources Second Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I’d now like to turn the conference over to Mr. Tyler Lewis. Please go ahead.

Tyler Lewis

Thank you, and good morning to everybody. Welcome to CNX’s second quarter conference call. We have in the room today, Nick DeIuliis, our President and CEO; Alan Shepard, our Chief Financial Officer; Chad Griffith, our Chief Operating Officer; Don Rush, our Chief Strategy Officer; and Ravi Srivastava, President of New Technologies.

Today, we’ll be discussing our second quarter results. This morning, we posted an updated slide presentation to our website. Also detailed second quarter earnings release data such as quarterly E&P data, financial statements and non-GAAP reconciliations are posted to our website in a document titled 2Q 2022 earnings results and supplemental information of CNX Resources. As a reminder, any forward-looking statements we make or comments about future expectations are subject to business risks, which we have laid out for you in our press release today as well as in our previous Securities and Exchange Commission filings. We will begin our call today with prepared remarks by Nick, followed by Alan, and then we will open the call for Q&A, where Chad, Don and Ravi will participate as well.

With that, let me turn the call over to you, Nick.

Nick DeIuliis

Thanks, Tyler. Good morning, everybody. Thanks for joining us today. Before I get into the specifics of my comments, I think it’s important to first highlight 3 themes that are core to the CNX investment thesis. And we think of these 3 in sequence, so I’ll put them in order. So first, we built and now we manage a low-risk $700 million per year of free cash flow annuity that works year after year. And this helps to largely insulate us from the macro events that are out of our control, it creates confidence and conviction in our business and its sustainable and works in any business environment.