Core Natural Resources, Inc. (CNR) Reports 47% Revenue Jump, Prepares Leer South Restart

Company Overview - Core Natural Resources, Inc. (CNR) was formed in January 2025 through the merger of CONSOL Energy and Arch Resources, quickly becoming a leading U.S. coal producer [2] - The company is headquartered in Canonsburg, Pennsylvania, and operates primarily through its Pennsylvania Mining Complex (PAMC) and CONSOL Marine Terminal, supplying thermal and metallurgical coal to both domestic and international markets [2] Financial Performance - In Q2 2025, CNR reported a 47% year-over-year revenue increase, outperforming sector peers despite ongoing industry volatility [3] - The company has a net margin of 0.63% and a return on equity of 3.01%, with analysts forecasting earnings per share of $11.40 for 2025, rising to $17.60 in 2026 [3] Production and Strategic Initiatives - A significant focus for CNR is the delayed restart of the Leer South mine, now expected to resume production in the fourth quarter, which is projected to enhance production efficiency and boost free cash flow [4] - The restart of the Leer South mine will also support CNR's capital return strategy, targeting the distribution of up to 75% of free cash flow to shareholders [4] Shareholder Returns - CNR continues to provide direct returns through dividends, having paid a $0.10 per share dividend earlier this month, representing a yield of 0.48% with a payout ratio of 18.35% [5] - Management has indicated plans for sustainable, gradually increasing shareholder distributions as the Leer South mine comes online and free cash flow expands [5]