Core Natural Resources Reports $1.042B Q4 Revenue and $79M Net Loss
Core Natural Resources posted a $79.0 million net loss in Q4 2025 with revenues of $1.042 billion and adjusted EBITDA of $103.1 million. The company generated $107.3 million of operating cash flow, $27.0 million of free cash flow and returned $26.8 million to shareholders.
1. Fourth Quarter Financial Results
Core Natural Resources reported a net loss of $79.0 million, or $1.54 per diluted share, in Q4 2025 on revenues of $1.042 billion and adjusted EBITDA of $103.1 million, including $36.4 million in idle mine cash costs and $23.9 million in insurance proceeds related to a bridge collapse.
2. Operational Highlights
The company resumed longwall mining at its Leer South mine and completed a seam transition at West Elk, entering 2026 at targeted production rates. High CV thermal coal sales rose 9% sequentially to 7.8 million tons with realized revenue of $58.11 per ton, while metallurgical coal sales totaled 2.0 million tons at an average $114.25 per ton.
3. Cash Flow and Capital Returns
Core generated $107.3 million of net operating cash flow and $27.0 million of free cash flow in the quarter, invested $21.7 million to repurchase 264,487 shares at an average $81.95, and returned $26.8 million to stockholders, bringing 2025 capital returns to $245.1 million.