Core Natural Resources reported its third‑quarter 2025 results on November 6, 2025, posting net income of $31.6 million and earnings per share of $0.61. Adjusted EBITDA reached $141.2 million on revenue of $1,002.5 million, indicating a solid operating performance for the period.
Cash‑flow metrics were robust, with net cash provided by operating activities of $87.9 million and free cash flow of $38.9 million. The company increased its cash and cash equivalents by $31.5 million, raising total liquidity to $995.4 million at the end of the quarter.
Segment results showed high‑calorific‑value thermal coal generating $59.78 per ton in realized revenue and a cash cost of $40.53 per ton. Metallurgical coal earned $112.94 per ton with a cash cost of $94.18 per ton, while Powder River Basin coal produced $14.09 per ton and a cash cost of $13.04 per ton. Commitments for the next year totaled 26 million tons, including 17 million tons of high‑CV thermal coal and 40 million tons of PRB coal, plus 500,000 tons of coking coal.
Capital‑return activity continued, with a $24.6 million share buyback and a cumulative $218.3 million returned to shareholders since the program’s launch. The company still awaits the restart of the Leer South longwall, which management expects to improve metallurgical segment margins in the coming quarters.
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