Consol Energy's second-quarter profit falls short of expectations

CHARLESTON, W.Va. -- Pittsburgh-based mine operator Consol Energy's second-quarter profit fell short of Wall Street's expectations as lower production and rising costs overcame soaring coal prices.

Consol said today it earned $101 million, or 54 cents per share, on revenue and other income of $1.2 billion in the quarter. It earned $153.1 million, 83 cents per share, on $1.06 billion in revenue and other income in second-quarter 2007. Last year's second quarter included $59 million in profit from asset sales.

Analysts polled by Thomson Financial expected earnings of 80 cents per share in the most recent quarter.

Chief Executive Brett Harvey blames lower productivity and rising costs for upping operating costs.

Consol operates in Pennsylvania, West Virginia, Virginia, Utah, Kentucky and Ohio.

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