Net loss for the quarter was $11m, while revenue declined by 24% to $1.16bn, reported Reuters.
Halting operations at several mines against the backdrop of low commodity prices, was a major reason for the decline in company’s performance.
The company predicts the earnings to continue to decline in the fourth quarter as well.
Consol had cut down coal production, a decision arising from weak demand in the market.
Meanwhile, production declined at the company’s Bailey and Enlow Fork mines in Pennsylvania due to a conveyor belt collapse in July.
Earnings are expected to improve after the mines begin normal production before the end of this year.
Consol plans to recommence the Buchanan mine on 5 November 2012. The company halted operations at the mine in September 2012.
