We will also file our Form 10-Q with the Securities and Exchange Commission (SEC) reporting our results for the quarter ended The following table presents the condensed consolidated statements of cash flows for the three months ended We evaluate our cost of coal sold and cash cost of coal sold on an aggregate basis. Releases are listed in chronological order and are archived by year. We define net leverage ratio as the ratio of net debt to the last twelve months' ("LTM") earnings before interest expense and depreciation, depletion and amortization, adjusted for certain non-cash items, such as long-term incentive awards, amortization of debt issuance costs and capitalized interest.The following table presents a reconciliation of net leverage ratio (in thousands).Free cash flow, organic free cash flow and organic free cash flow net to CEIX shareholders are non-GAAP financial measures.
Our marketing team sold 2.3 million tons of coal during the second quarter of 2020 at an average revenue per ton sold of On a positive note, given the unprecedented demand decline, U.S. and global coal producers responded by curtailing significant portions of their annual mine production. Our total recordable incident rate at the PAMC for the second quarter of 2020 improved by 37.9% compared to the second quarter of 2019. Earlier in the quarter, our Bailey mine was idled as we sought to mitigate the risk of COVID-19. Prepared remarks by members of management will be followed by a question and answer session.
When we use the words "anticipate," "believe," "could," "continue," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements.
The following table presents a reconciliation of average cash margin per ton sold to total coal revenue, the most directly comparable GAAP financial measure, on a historical basis, for each of the periods indicated (in thousands, except per ton information).We define adjusted EBITDA as (i) net income (loss) plus income taxes, net interest expense and depreciation, depletion and amortization, as adjusted for (ii) certain non-cash items, such as long-term incentive awards.
Jul 14, 2020. IHS Markit reports that active U.S. gas rigs stood at 76 as of Internationally, thermal coal prices remained under pressure in the second quarter of 2020 due to the impacts of the COVID-19-related shutdowns and reduced global LNG prices. Registration on or use of this site constitutes acceptance of our "The second quarter of 2020 was the most challenging quarter I have seen in the 30+ year history of the Pennsylvania Mining Complex, as government-imposed lockdowns in response to the COVID-19 pandemic, both domestically and abroad, resulted in historic underutilization of our assets," said "On the safety front, our Bailey Mine, Bailey Preparation Plant, CONSOL Marine Terminal (CMT) and Itmann project each had ZERO recordable incidents during the second quarter. Our costs exclude any indirect costs, such as selling, general and administrative costs, freight expenses, interest expenses, depreciation, depletion and amortization costs on non-production assets and other costs not directly attributable to the production of coal. ... CONSOL Energy and CONSOL Coal Resources Schedule Fourth Quarter 2018 Earnings Release and Conference Call.
Although throughput volumes were lower compared to the year-ago quarter, the impact on terminal revenues was lessened as a result of the take-or-pay contract in place with our largest customer at CMT. Sign-up to receive news as it is released using the email and RSS tools below. The following tables present a reconciliation of free cash flow, organic free cash flow and organic free cash flow net to CEIX shareholders to net cash provided by operations, the most directly comparable GAAP financial measure, on a historical basis, for each of the periods indicated. These are news releases that are related to our Investor efforts. Specific risks, contingencies and uncertainties are discussed in more detail in our filings with the Securities and Exchange Commission. CANONSBURG, Pa., Aug. 10, 2020 /PRNewswire/ -- Today, CONSOL Energy Inc. (NYSE: CEIX) reported financial and operating results for the period ended … A joint conference call and webcast with CONSOL Coal Resources LP, during which management will discuss the second quarter 2020 financial and operational results, is scheduled for August 10, 2020 at 11:00 AM eastern time.
Releases are listed in chronological order and are archived by year.
On a positive note, we are starting to see some recovery in the export markets with API2 prices increasing 27% as of During the second quarter of 2020, we faced an unprecedented reduction in customer demand and an increase in force majeure requests from our customers.
As a result, we idled our Enlow Fork mine in April and kept it idled throughout the quarter, which weighed negatively on our operating performance. Management believes that these measures are meaningful to investors because management reviews cash flows generated from operations and non-core asset sales after taking into consideration capital expenditures due to the fact that these expenditures are considered necessary to maintain and expand CONSOL's asset base and are expected to generate future cash flows from operations. The cash cost of coal sold includes cost of coal sold less depreciation, depletion and amortization costs on production assets.
For the second quarter of 2020, terminal revenues were During the second quarter of 2020, CEIX successfully amended its credit agreement with its banking partners, which effectively provides the company with eight quarters of covenant relaxation while also providing continued access to its During the second quarter of 2020, CEIX made mandatory repayments of Given the ongoing uncertainty associated with the COVID-19 pandemic-driven economic slowdown, we are working with our customers to manage their shipments and inventory levels.
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