Core Natural Resources Reports Third Quarter 2025 Results

Financial Performance - Core Natural Resources, Inc. reported net income of $31.6 million, or $0.61 per diluted share, for Q3 2025, with adjusted EBITDA of $141.2 million [1][2] - The company generated net cash provided by operating activities of $87.9 million and free cash flow of $38.9 million during the quarter [8][29] - Revenues for the third quarter totaled $1,002.5 million [1] Operational Highlights - The transition to a more advantageous reserve area at the West Elk mine is expected to enhance performance due to the B-Seam's greater thickness and higher coal quality [2][3] - The metallurgical segment sold 1.9 million tons of coal, achieving realized coal revenue per ton sold for coking coal of $112.94 [4] - In the Powder River Basin segment, sales volumes reached 13.0 million tons, with realized coal revenue per ton sold at $14.09 [5] Capital Return and Shareholder Returns - Core returned $24.6 million to stockholders through share buybacks and dividends, totaling $218.3 million since the capital return program's launch in February [1][8] - The company has committed to returning approximately 75% of free cash flow to stockholders, primarily through share repurchases and a quarterly dividend of $0.10 per share [7][9] Future Outlook - The company anticipates continued robust free cash flow generation supported by cost control efforts and the expected restart of the Leer South longwall [10] - Core is preparing for a significant performance improvement in 2026, leveraging its diverse asset base and favorable market conditions [18] Rare Earth Elements and Critical Minerals - Core has identified elevated concentrations of rare earth elements and critical minerals at its Black Thunder and Coal Creek mines, indicating potential future opportunities [15][16] - The company is initiating an expanded drilling program to further evaluate these resources and is engaging with technology providers for potential future projects [17]