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Core Natural Resources, Inc., together with its subsidiaries, produces, sells, and exports metallurgical and thermal coals in the United States and internationally. It operates through the High CV Thermal; Metallurgical; Powder River Basin (PRB); and Core Marine Terminal segments. The High CV Thermal segment consists of Pennsylvania Mining Complex and the West Elk mine located in Colorado. The Metallurgical segment consists of Leer, Leer South, Beckley, Mountain Laurel, and Itmann coal mines in West Virginia. The PRB segment consists of Black Thunder and Coal Creek surface mining complexes located in Wyoming. The Core Marine Terminal segment consists of coal export terminal operations in the Port of Baltimore. The company was formerly known as CONSOL Energy Inc. and changed its name to Core Natural Resources, Inc. in January 2025. Core Natural Resources, Inc. was founded in 1864 and is headquartered in Canonsburg, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.2B | $427M | $-153M | $21M | -4.2% | 92.4% | -153.5% |
| 2024 | $2.2B | $576M | $286M | $298M | 18.3% | -13.7% | -56.3% |
| 2023 | $2.5B | $1.0B | $656M | $690M | 48.8% | 9.9% | 40.5% |
| 2022 | $2.3B | $848M | $467M | $479M | 40.1% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,280.02 | 2,506.64 | 2,164.41 | 4,164.77 |
| Operating Revenue | - | 2,280.02 | 2,506.64 | 2,164.41 | 4,164.77 |
| Cost Of Revenue | - | 409.32 | 1,618.94 | 1,654.96 | 4,165.88 |
| Gross Profit | - | 1,870.70 | 887.70 | 509.45 | -1.11 |
| Operating Expense | - | 1,065.92 | 84.36 | 115.22 | 214.86 |
| Selling General And Administration | - | 116.70 | 103.47 | 115.22 | 214.86 |
| Total Expenses | - | 1,475.24 | 1,703.30 | 1,770.18 | 4,380.74 |
| Operating Income | - | 804.78 | 803.34 | 394.22 | -215.96 |
| Total Operating Income As Reported | - | - | 803.34 | 351 | -182.06 |
| EBITDA | - | 847.96 | 1,048.51 | 576.36 | 427.49 |
| Normalized EBITDA | - | 1,056.01 | 1,051.24 | 628.36 | 407.17 |
| EBIT | - | 621.08 | 807.20 | 352.84 | -193.58 |
| Interest Income | - | 6.03 | 13.60 | 19.22 | 25.89 |
| Interest Expense | - | 52.64 | 29.32 | 22.19 | 40.12 |
| Net Interest Income | - | -46.61 | -15.73 | -2.97 | -14.23 |
| Other Non Operating Income Expenses | - | 18.32 | -7.01 | -8.38 | -23.73 |
| Other Income Expense | - | -189.74 | -9.74 | -60.38 | -3.41 |
| Interest Income Non Operating | - | 6.03 | 13.60 | 19.22 | 25.89 |
| Interest Expense Non Operating | - | 52.64 | 29.32 | 22.19 | 40.12 |
| Net Non Operating Interest Income Expense | - | -46.61 | -15.73 | -2.97 | -14.23 |
| Pretax Income | - | 568.44 | 777.87 | 330.65 | -233.70 |
| Tax Provision | - | 101.46 | 121.98 | 44.24 | -80.49 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -37.03 | -0.43 | -6.97 | 6.99 |
| Net Income Continuous Operations | - | 466.98 | 655.89 | 286.40 | -153.22 |
| Net Income From Continuing And Discontinued Operation | - | 466.98 | 655.89 | 286.40 | -153.22 |
| Net Income From Continuing Operation Net Minority Interest | - | 466.98 | 655.89 | 286.40 | -153.22 |
| Net Income | - | 466.98 | 655.89 | 286.40 | -153.22 |
| Net Income Common Stockholders | - | 466.98 | 655.89 | 286.40 | -153.22 |
| Net Income Including Noncontrolling Interests | - | 466.98 | 655.89 | 286.40 | -153.22 |
| Normalized Income | - | 638 | 658.19 | 331.44 | -166.55 |
| Diluted NI Availto Com Stockholders | - | 466.98 | 655.89 | 286.40 | -153.22 |
| Basic Average Shares | - | 34.82 | 32.94 | 29.68 | 51.39 |
| Diluted Average Shares | - | 35.73 | 33.14 | 29.80 | 51.39 |
| Reconciled Depreciation | - | 226.88 | 241.32 | 223.53 | 621.07 |
| Reconciled Cost Of Revenue | - | 409.32 | 1,618.94 | 1,654.96 | 4,165.88 |
| Total Unusual Items | - | -208.06 | -2.72 | -52 | 20.32 |
| Total Unusual Items Excluding Goodwill | - | -208.06 | -2.72 | -52 | 20.32 |
| Minority Interests | 0 | 0 | - | - | - |
| Special Income Charges | - | 28.97 | -2.72 | -52 | 20.32 |
| Other Special Charges | - | 5.62 | 2.72 | 59 | -13.32 |
| Gain On Sale Of Security | -52.20 | -237.02 | - | - | - |
| General And Administrative Expense | - | 116.70 | 103.47 | 115.22 | 214.86 |
| Other Gand A | - | 116.70 | 103.47 | 115.22 | 214.86 |
| Gain On Sale Of Ppe | - | 34.59 | 8.98 | 7 | 7 |
| Other Operating Expenses | 745.29 | 949.22 | -19.11 | 1,270.70 | - |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Core Natural Resources, Inc.this co. | CNR | $5.0B | -32.54 | 1.36 | -4.2% | 11.71 |
| California Resources Corporation | CRC | $5.4B | 14.92 | 1.47 | 9.9% | 5.94 |
| Magnolia Oil & Gas Corporation | MGY | $5.4B | 16.51 | 2.77 | 16.8% | 6.29 |
| Liberty Energy Inc. | LBRT | $5.2B | 34.83 | 2.48 | 7.1% | 7.80 |
| Patterson-UTI Energy, Inc. | PTEN |
| - |
| - |
| - |
| - |
| - |
| - |
| $4.7B |
| -49.75 |
| 1.45 |
| -2.9% |
| 6.08 |
| Cactus, Inc. | WHD | $4.1B | 24.62 | 3.33 | 13.5% | 12.23 |
| Comstock Resources, Inc. | CRK | $4.1B | 9.67 | 1.53 | 15.9% | 5.06 |
| Crescent Energy Company | CRGY | $4.0B | 30.32 | 0.78 | 2.6% | 5.84 |
| Oceaneering International, Inc. | OII | $4.0B | 11.22 | 3.71 | 33.0% | 9.77 |
| Peer Median | - | 15.72 | 2.01 | 11.7% | 6.19 | |