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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 |
| 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 |
| Operating Income | - | 804.78 | 803.34 | 394.22 | -215.96 |
| EBITDA | - | 847.96 | 1,048.51 | 576.36 | 427.49 |
| EBIT | - | 621.08 | 807.20 | 352.84 | -193.58 |
| Pretax Income | - | 568.44 | 777.87 | 330.65 | -233.70 |
| Tax Provision | - | 101.46 | 121.98 | 44.24 | -80.49 |
| Net Income | - | 466.98 | 655.89 | 286.40 | -153.22 |
| Net Income Common Stockholders | - | 466.98 | 655.89 | 286.40 | -153.22 |
| Total Expenses | - | 1,475.24 | 1,703.30 | 1,770.18 | 4,380.74 |
| Interest Expense | - | 52.64 | 29.32 | 22.19 | 40.12 |
| Interest Income | - | 6.03 | 13.60 | 19.22 | 25.89 |
| Selling General And Administration | - | 116.70 | 103.47 | 115.22 | 214.86 |
| Normalized EBITDA | - | 1,056.01 | 1,051.24 | 628.36 | 407.17 |
| Normalized Income | - | 638 | 658.19 | 331.44 | -166.55 |
| Market Cap | 4,354.38 | 4,354.38 | 4,354.38 | 4,354.38 | 4,354.38 |
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 | - | -28.42 | 1.18 | -4.2% | 10.23 |
| Comstock Resources, Inc. | CRK | $5.0B | 11.84 | 1.88 | 15.9% | 5.73 |
| Tidewater Inc. | TDW | $4.4B | 13.11 | 3.21 | 24.5% | 10.26 |
| International Seaways, Inc. | INSW | $3.9B | 12.71 | 1.95 | 15.3% | 8.52 |
| Cactus, Inc. | WHD | $3.9B |
| - |
| - |
| - |
| - |
| - |
| - |
| 23.74 |
| 3.21 |
| 13.5% |
| 11.78 |
| SM Energy Company | SM | $3.3B | 10.65 | 1.43 | 13.5% | 4.18 |
| Par Pacific Holdings, Inc. | PARR | $3.3B | 8.60 | 2.10 | 24.4% | 6.02 |
| CVR Energy, Inc. | CVI | $3.1B | 117.36 | 4.34 | 3.7% | 7.51 |
| Crescent Energy Company | CRGY | $3.1B | 31.41 | 0.81 | 2.6% | 5.92 |
| Peer Median | - | 12.91 | 2.02 | 14.4% | 6.76 | |