Core Natural Resources Q1 2026 net income $21M, adjusted EBITDA $179.9M
CNR•Core Natural Resources reported Q1 2026 net income of $21 million ($0.41/share) on revenues of $1.1 billion, with adjusted EBITDA of $179.9 million and free cash flow of $55.5 million. Coking coal sales climbed 2.1 million tons at $122.11 per ton (+7%), while metallurgical cash costs dropped 11% to $92.35.
1. Financial Results
Core Natural Resources delivered Q1 2026 net income of $21.0 million, or $0.41 per diluted share, on revenues of $1.1 billion. The company recorded adjusted EBITDA of $179.9 million and generated net cash from operating activities of $119.4 million.
2. Segment Performance
The metallurgical segment sold 2.1 million tons of coking coal at $122.11 per ton, a 7% revenue improvement, while cutting cash cost to $92.35 per ton, down 11%. The high calorific thermal arm sold 7.7 million tons at $58.86 per ton with a $42.56 cost, and Powder River Basin volumes reached 11.9 million tons with $14.39 revenue and $13.64 cost per ton.
3. Cash Flow and Shareholder Returns
Free cash flow totaled $55.5 million in the quarter, supporting $47.0 million of share repurchases and dividends, and lifting total returns since Q1 2025 to $292.1 million. The capital return framework targets roughly 75% of free cash flow for shareholder distributions.
4. Outlook and Priorities
Management plans to sustain operational momentum across all sites, emphasizing safety, compliance and continuous improvement. Focus remains on driving margin expansion, cost efficiency and disciplined capital allocation through the remainder of 2026.
