CONSOL Coal Resources LP (CONSOL Coal Resources LP) Operating Income : $-4.9 Mil (TTM As of Sep. 2020)

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What is CONSOL Coal Resources LP Operating Income?

CONSOL Coal Resources LP's Operating Income for the three months ended in Sep. 2020 was $-3.1 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2020 was $-4.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CONSOL Coal Resources LP's Operating Income for the three months ended in Sep. 2020 was $-3.1 Mil. CONSOL Coal Resources LP's Revenue for the three months ended in Sep. 2020 was $49.2 Mil. Therefore, CONSOL Coal Resources LP's Operating Margin % for the quarter that ended in Sep. 2020 was -6.25%.

Warning Sign:

CONSOL Coal Resources LP operating margin has been in 5-year decline. The average rate of decline per year is -7.2%.

CONSOL Coal Resources LP's 5-Year average Growth Rate for Operating Margin % was -7.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CONSOL Coal Resources LP's annualized ROC % for the quarter that ended in Sep. 2020 was -2.76%. CONSOL Coal Resources LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2020 was -2.85%.

CONSOL Coal Resources LP Operating Income Historical Data

The historical data trend for CONSOL Coal Resources LP's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

CONSOL Coal Resources LP Operating Income Chart

CONSOL Coal Resources LP Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Operating Income

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73.23

32.89

48.08

72.81

49.37

CONSOL Coal Resources LP Quarterly Data
	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20
Operating Income	Get a 7-Day Free Trial															7.46	11.74	-0.40	-13.15	-3.08

CONSOL Coal Resources LP Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Sep. 2020 adds up the quarterly data reported by the company within the most recent 12 months, which was $-4.9 Mil.

CONSOL Coal Resources LP (NYSE:CCR) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

CONSOL Coal Resources LP's annualized ROC % for the quarter that ended in Sep. 2020 is calculated as:

	ROC % (Q: Sep. 2020 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2020 )	+	Invested Capital (Q: Sep. 2020 ))	/ count )
=	-12.32 * ( 1 - 0% )	/	( (449.617	+	442.756)	/ 2 )
=	-12.32	/	446.1865
=	-2.76 %

where

	Invested Capital		(Q: Jun. 2020 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	472.515	-	50.178	-	( 0.102	-	max(0, 66.403	-	39.123	+	0.102	))
=	449.617

	Invested Capital		(Q: Sep. 2020 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	469.717	-	57.761	-	( 0.625	-	max(0, 74.538	-	43.738	+	0.625	))
=	442.756

Note: The Operating Income data used here is four times the quarterly (Sep. 2020) data.

2. Joel Greenblatt's definition of Return on Capital:

CONSOL Coal Resources LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2020 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2020 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2020		Q: Sep. 2020
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-12.036	/	( ( (420.146 + max(-14.543, 0))	+	(423.342 + max(-18.259, 0)) )	/	2 )
=	-12.036	/	( ( 420.146	+	423.342 )	/	2 )
=	-12.036	/	421.744
=	-2.85 %

where Working Capital is:

	Working Capital		(Q: Jun. 2020 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(21.391	+	14.122	+	2.761)	-	(50.178	+	0	+	2.639)
=	-14.543

	Working Capital		(Q: Sep. 2020 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(24.887	+	13.178	+	4.086)	-	(57.761	+	0	+	2.649)
=	-18.259

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2020) EBIT data.

3. Operating Income is also linked to Operating Margin %:

CONSOL Coal Resources LP's Operating Margin % for the quarter that ended in Sep. 2020 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2020 )	/	Revenue (Q: Sep. 2020 )
	=	-3.08	/	49.243
	=	-6.25 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

CONSOL Coal Resources LP Operating Income Related Terms

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CONSOL Coal Resources LP (CONSOL Coal Resources LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Other Energy Sources » CONSOL Coal Resources LP (NYSE:CCR) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

1000 CONSOL Energy Drive, Suite 100, CNX Center, Canonsburg, PA, USA, 15317-6506

Website

http://www.ccrlp.com

CONSOL Coal Resources LP is engaged in the thermal coal operations in Pennsylvania. The company's assets include interests in CONSOL energy's Pennsylvania mining complex, which consists of approximately three underground mines (Bailey Mine, Enlow Fork Mine, and Harvey Mine) and related infrastructure that produce bituminous thermal coal that is sold primarily to electric utilities in the eastern United States. All the operations of the group are conducted at a single mining complex located in the Northern Appalachian Basin in southwestern Pennsylvania.

Executives

Jeffrey L Wallace	director, other: SEE REMARKS	1000 CONSOL ENERGY DRIVE CANONSBURG PA 15317
Michael L Greenwood	director, other: SEE REMARKS
Dan D Sandman	director, other: SEE REMARKS
Miteshkumar Thakkar	officer: See Remarks	1000 CONSOL DRIVE, SUITE 100, CANONSBURG PA 15317
John Rothka	officer: Chief Accounting Officer	2970 HENDERSON AVENUE, WASHINGTON PA 15301
Consol Energy Inc.	director, 10 percent owner	1000 CONSOL ENERGY DRIVE SUITE #100 CANONSBURG PA 15317
Greenlight Capital Inc	10 percent owner	140 EAST 45TH STREET, 24TH FLOOR, NEW YORK NY 10017
Dme Advisors, Lp	10 percent owner	140 EAST 45TH STREET, 24TH FLOOR, NEW YORK NY 10017
Dme Advisors Gp, L.l.c.	10 percent owner	140 EAST 45TH STREET, 24TH FLOOR, NEW YORK NY 10017
Dme Capital Management, Lp	10 percent owner	140 EAST 45TH STREET, 24TH FLOOR, NEW YORK NY 10017
David Einhorn	10 percent owner, other: See Footnotes (1) - (11)	140 EAST 45TH STREET, 24TH FLOOR, NEW YORK NY 10017
Deborah J. Lackovic	director, other: SEE REMARKS	C/O CONSOL COAL RESOURCES LP 100 CONSOL ENERGY DRIVE, SUITE 100 CANONSBURG PA 15317
Kurt R. Salvatori	director, other: SEE REMARKS	1000 CONSOL ENERGY DRIVE, CANONSBURG PA 15317
Martha A Wiegand	officer: SEE REMARKS	1000 CONSOL ENERGY DRIVE, CANONSBURG PA 15317
James A Brock	director, officer: SEE REMARKS	1000 CONSOL ENERGY DRIVE, CANONSBURG PA 15317