Core Natural Resources, Inc. (NYSE: CNR) reported its financial results for the fourth quarter (Q4) and full year (FY) ended December 31, 2025. For Q4 2025, the company posted revenues of USD 1.04 billion and a net loss of USD 79.0 million, or USD 1.54 per diluted share. Adjusted EBITDA for the quarter was USD 103.1 million. Net cash provided by operating activities reached USD 107.3 million, while free cash flow amounted to USD 27.0 million. For the full year 2025, Core Natural Resources reported revenues of USD 4.16 billion. During the quarter, Core Natural Resources resumed longwall mining at Leer South and completed the transition to a new seam at West Elk, both of which entered 2026 operating at targeted production rates. The company also significantly increased its contracted position across all segments at prices projected to support advantageous margins. In Q4, USD 26.8 million was returned to stockholders, bringing total shareholder returns in 2025 to USD 245.1 million. Core Natural Resources was established in January 2025 through the merger of CONSOL Energy and Arch Resources, and operates a portfolio of large-scale, low-cost longwall mines with a focus on metallurgical and high calorific value thermal coals.

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