Core Natural Resources (CNR) stock plummeted 5.09% on Friday during the trading session, underperforming the broader market.
The oil and gas company reported its full year 2024 earnings, which missed analyst expectations. Key misses included revenue of $2.24 billion (7.9% below estimates), net income of $286.4 million (missing EPS estimates by 11%), and a profit margin of 13% (down from 26% in 2023). The revenue and profit declines were attributed to lower energy prices and higher costs.
While CNR expects revenue growth of 9.9% annually over the next 3 years, outpacing the 4.5% industry forecast, investors were disappointed by the weaker-than-expected 2024 results. The company has also identified two risk warnings to consider going forward. Analysts will be closely watching CNR's ability to improve profitability and navigate industry headwinds.