Core Natural Resources (CNR) stock experienced a significant surge of 5.38% in pre-market trading on Thursday. The soaring stock movement came after the company released its fourth-quarter 2024 financial results and outlined a new capital return framework.

In its earnings report, Core Natural Resources posted quarterly earnings of $1.04 per share, missing analyst estimates of $3.09 by a wide margin. However, the company's revenue of $595.291 million exceeded expectations, beating the consensus estimate of $553.850 million.

A key highlight was the company's adoption of a new capital return framework heavily weighted toward share repurchases. Core Natural Resources' board authorized a $1 billion share buyback program, demonstrating its commitment to rewarding shareholders. Additionally, the company announced a quarterly dividend of $0.10 per share.

The report also provided updates on the company's operations, including the resumption of development work at the Leer South mine after addressing combustion-related activity. Core Natural Resources expects to capture significant synergies from its recent merger with Arch Resources, with strategies in place to realize approximately one-third of the projected $110 million to $140 million in synergies during the first five weeks.

Looking ahead, Core Natural Resources issued guidance for 2025, projecting total sales volumes ranging from 72.5 million to 79.0 million tons across its various coal segments. The company anticipates strong committed positions in both the metallurgical and high calorific value thermal coal segments, supporting its financial outlook.