Core Company Overview - Core Natural Resources, Inc. (NYSE: CNR) is a leading producer of high-quality metallurgical and thermal coals, operating a portfolio of large-scale, low-cost longwall mines, including the Pennsylvania Mining Complex, Leer, Leer South, and West Elk mines [5] - The company was formed in January 2025 through the merger of CONSOL Energy and Arch Resources, and is headquartered in Canonsburg, Pennsylvania [5] Recent Operational Developments - Core has resumed longwall operations at its Leer South metallurgical mine in West Virginia, which had been idle since January 13, 2025, due to combustion-related activity [1] - The West Elk longwall mine in Colorado is now achieving consistent productivity levels after transitioning to the B-Seam, with expectations for continued improved performance [2] Management Commentary - The chairman and CEO of Core commended the operations team for prioritizing safety during the recovery and restart of the longwall system at Leer South, emphasizing the strategic importance of this asset [3] - The senior vice president and COO highlighted the professionalism and dedication of the operations team, projecting that Leer South will operate efficiently and effectively in 2026 [4] Financial Outlook - Core anticipates a significant improvement in financial performance in 2026 due to the restart at Leer South, improved geological conditions at West Elk, and substantial insurance recoveries related to the combustion event [4] - The company expects to benefit from the cessation of fire-suppression and idling costs at Leer South, as well as ongoing merger-related synergies [4]

BRISTOL, Tenn., Dec. 12, 2025 /PRNewswire/ -- Alpha Metallurgical Resources, Inc. (NYSE: AMR), a leading U.S. supplier of metallurgical products for the steel industry, today issued guidance expectations for the 2026 calendar year. "Upon completion of Alpha's budgeting process for the coming year, we are communicating our guidance expectations for 2026," said Andy Eidson, Alpha's chief executive officer. "While market conditions continue to appear challenging in the immediate term, we are looking ahead and ...

Core Leadership Transition - Core Natural Resources, Inc. has appointed Jimmy Brock as the new CEO, succeeding Paul A. Lang, effective immediately [1] - Brock will collaborate with Lang during the transition period, which will last until the end of the year [1] Company Overview - Core Natural Resources is a leading producer of high-quality metallurgical and thermal coals, operating large-scale, low-cost longwall mines [4] - The company was formed in January 2025 through the merger of CONSOL Energy and Arch Resources, and is based in Canonsburg, Pennsylvania [4] - Core has a strategic logistical network, including ownership of two East Coast marine export terminals, enhancing its access to global coal markets [4] Leadership Background - Jimmy Brock has over 40 years of experience in the coal industry, previously serving as CEO and board member of CONSOL Energy [3] - He has held various positions including chief operating officer and mine foreman, and currently chairs several industry associations [3]

Company Overview - Core Natural Resources, Inc. (NYSE: CNR) is a leading producer of high-quality metallurgical and thermal coals for the global market [4] - The company operates a portfolio of large-scale, low-cost longwall mines, including the Pennsylvania Mining Complex, Leer, Leer South, and West Elk mines, as well as the Black Thunder surface mine [4] - Core plays a crucial role in meeting the global demand for steel, infrastructure, and energy, while also supporting the U.S. power generation sector [4] - The company was formed in January 2025 through the merger of CONSOL Energy and Arch Resources [4] Financial Results Announcement - Core will discuss its second quarter 2025 financial results in an investor conference call scheduled for August 5, 2025, at 10:00 a.m. Eastern time [1] - The earnings release will be distributed via PR Newswire before the market opens on August 5 and will be available on the company's website [3] Conference Call Access - Participants can access the conference call by dialing 800-836-8184 or +1 646-357-8785 for international calls, with no passcode required [2] - The call will also be webcast and available in the "investor" section of the Core website, with a replay accessible afterward [2]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q4 2024 was $53 million, an increase from $49 million in Q3 2024 [13] - Coal shipped in Q4 2024 was 4.1 million tons, consistent with Q3 2024 [13] - Net segment realizations decreased to an average of $127.84 per ton in Q4 from $132.76 in Q3 [14] - Cash provided by operating activities was $56.3 million in Q4, down from $189.5 million in Q3 [17] - Total liquidity increased to $519.4 million at the end of Q4 from $507 million at the end of Q3 [17] Business Line Data and Key Metrics Changes - Realizations for metallurgical sales averaged $132.63 per ton in Q4, down from $136.35 in Q3 [15] - Incidental thermal portion realizations decreased to $75.39 per ton in Q4 from $76.33 in Q3 [15] - Coal sales for the Met segment decreased to $108.82 per ton in Q4 from $114.27 in Q3 [15] - SG&A expenses increased to $14.3 million in Q4 from $13.4 million in Q3 [16] Market Data and Key Metrics Changes - Metallurgical coal markets ended 2024 sharply lower, with indices dropping at least 30% [33] - The Australian Premium Low Vol Index fell from $204.75 per metric ton at the start of 2024 to $196.50 by year-end [34] - The U.S. East Coast Low Vol Index decreased slightly from $189 per metric ton to $188 per metric ton during Q4 [34] - The API 2 index for thermal coal decreased from $118.25 per metric ton at the start of Q4 to $113.15 by year-end [35] Company Strategy and Development Direction - The company is open to evaluating M&A opportunities to strengthen its long-term position despite current market challenges [11] - The focus remains on cash preservation and maintaining liquidity in light of market uncertainties [66] - The company aims to protect its franchise and will not consider share repurchases until market conditions improve [66] Management's Comments on Operating Environment and Future Outlook - Management noted that severe weather conditions have impacted production and transportation, affecting Q1 and potentially Q2 results [31][39] - The company anticipates continued challenges in the metallurgical coal market due to weak steel demand and geopolitical uncertainties [36][38] - Management expressed confidence in the long-term demand for metallurgical coal despite current market conditions [12] Other Important Information - The company did not repurchase any shares in Q4 under its buyback program, maintaining approximately 4 million shares outstanding [20] - The Kingston Wildcat Slope development is on track to reach coal seam by late 2025, expected to produce approximately 1 million tons of low-vol coal annually [30] Q&A Session Summary Question: How should we think about the cadence of sales through 2025? - Management indicated that domestic shipments should be roughly pro rata throughout the year, with export shipments expected to increase in the latter half as they catch up from missed shipments [44] Question: Can you break down the cost per ton guidance increase? - Management stated that the $2 increase in the upper range is a precautionary measure to guard against Q1 issues, with some cost impacts already observed in January [47] Question: What are your thoughts on domestic demand given the new administration's tariffs? - Management noted the ability to shift tons between domestic and export markets, but current customer operations are stable without indications of increased blast furnace production [56] Question: What is the target cash level if the market remains weak? - Management aims to maintain a cash level in the $400 to $500 million range while preserving liquidity until market conditions improve [65] Question: Any updates on potential M&A opportunities? - Management acknowledged ongoing processes with certain assets and potential opportunities but emphasized caution regarding cash burn from operations [70] Question: How much supply from Central Appalachia has come out of the market? - Management indicated that some tons have exited the market due to operational interruptions, but it is difficult to quantify the exact amount [75]