Core Natural Resources, Inc.
- Open
- 83.17
- Day high
- 84.05
- Day low
- 82.62
- Prev close
- 83.02
- Volume
- 417K
- Mkt cap
- $4.2B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.2
- P/S
- 1.0
- Yield
- 0.48%
- Per share
- $0.40
Core Natural Resources, Inc. (CNR) is a Energy company listed on NYSE. The stock is up 8% over the past year.
Core Natural Resources, Inc. (CNR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CNR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.01 | $0.41 | +4200.0% | $1.1B | +2.0% |
| Feb 12, 2026 | $-0.78 | $-1.54 | -97.4% | $1.0B | +4.6% |
| Nov 6, 2025 | $-1.40 | $0.61 | +143.6% | $1.0B | -1.6% |
| May 8, 2025 | $1.74 | $-1.38 | -179.3% | $1.0B | +5.5% |
| Feb 20, 2025 | $2.27 | $3.07 | +35.2% | $570M | -43.2% |
| Jul 19, 2024 | $0.94 | $1.96 | +108.5% | $487M | +13.3% |
| Mar 31, 2024 | $2.37 | $3.39 | +43.0% | $542M | +4.9% |
| Dec 31, 2023 | $4.89 | $5.05 | +3.3% | $634M | +4.2% |
| Sep 30, 2023 | $4.80 | $3.11 | -35.2% | $541M | -7.9% |
| Jun 30, 2023 | $4.66 | $4.94 | +6.0% | $654M | +11.2% |
| Mar 31, 2023 | — | $6.55 | — | $678M | — |
| Dec 31, 2022 | $5.04 | $5.39 | +6.9% | $609M | +2.7% |
CNR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 1, 2026 | Doheny Edward L IIdirector | Grant | 1,390 | — |
| May 1, 2026 | Keating Ronald Cdirector | Grant | 1,390 | — |
| Mar 20, 2026 | Klein Rosemary Lofficer: SVP, CLO & Corp. Sec. | Sell | 5,000 | $110.62 |
| Mar 20, 2026 | Klein Rosemary Lofficer: SVP, CLO & Corp. Sec. | Sell | 10,000 | $105.00 |
| Mar 19, 2026 | Rothka Johnofficer: Chief Accounting Officer | Sell | 1,000 | $97.66 |
| Mar 19, 2026 | Brock James Adirector, officer: Executive Chair and CEO | Sell | 40,760 | $101.15 |
| Mar 11, 2026 | Rothka Johnofficer: Chief Accounting Officer | Sell | 3,800 | $91.62 |
| Mar 11, 2026 | NAVARRE RICHARD Adirector | Sell | 6,000 | $91.70 |
| Feb 23, 2026 | Rothka Johnofficer: Chief Accounting Officer | Tax | 79 | $88.96 |
| Feb 23, 2026 | Brock James Adirector, officer: Executive Chair and CEO | Tax | 2,960 | $88.96 |
| Feb 19, 2026 | Slone Deckofficer: SVP, Strategy & Public Policy | Grant | 5,060 | — |
| Feb 19, 2026 | Slone Deckofficer: SVP, Strategy & Public Policy | Tax | 487 | $88.96 |
| Feb 19, 2026 | Slone Deckofficer: SVP, Strategy & Public Policy | Tax | 731 | $88.96 |
| Feb 19, 2026 | Schuller George John JRofficer: SVP, Chief Operating Officer | Grant | 7,530 | — |
| Feb 19, 2026 | Schuller George John JRofficer: SVP, Chief Operating Officer | Tax | 713 | $88.96 |
Source: CNR SEC Form 4 filings, latest May 1, 2026. For informational purposes only — not investment advice.
See the full CNR insider & 13F page →Core Natural Resources, Inc. company profile
Overview
Core Natural Resources, Inc. (NYSE:CNR) is a major American coal mining and terminal services company that emerged from the 2024 merger between CONSOL Energy and Arch Resources. Founded in 1864 and formerly known as CONSOL Energy Inc., the company changed its name to Core Natural Resources in January 2025. Headquartered in Canonsburg, Pennsylvania, CNR operates as one of the largest coal producers in the United States, with mining operations across Pennsylvania, West Virginia, and Wyoming's Powder River Basin, along with coal export terminal services through the Port of Baltimore.
Business
Core Natural Resources operates in the coal mining industry, extracting and selling different types of coal to power generation, industrial, and metallurgical customers. Coal is a fossil fuel formed from ancient plant matter that serves as a primary energy source for electricity generation and steel production worldwide. The company's operations are divided into distinct business segments based on coal type and geographic location. The High CV (Calorific Value) Thermal Coal segment represents the company's largest operation by volume, producing approximately 29-31 million tons annually from the Pennsylvania Mining Complex (PAMC). This segment includes the Bailey Mine, Enlow Fork Mine, Harvey Mine, and a central preparation plant. High CV thermal coal burns hotter and more efficiently than lower-grade coal, making it valuable for power generation. This segment generates approximately 40-45% of total revenues. The Metallurgical Coal segment produces specialized coking coal essential for steel production, with expected annual sales of 7.5-8 million tons. Metallurgical coal differs from thermal coal in that it can be processed into coke, a carbon-rich fuel required in blast furnaces to convert iron ore into steel. The segment includes operations at the Leer South mine in West Virginia and produces various grades including Low-Vol, High-Vol A, and High-Vol B coking coal. Despite lower volumes, this segment commands premium pricing and contributes approximately 35-40% of revenues. The Powder River Basin (PRB) segment operates in Wyoming, producing approximately 37 million tons of lower-grade thermal coal annually. PRB coal has lower sulfur content, making it environmentally cleaner but also lower in energy content compared to eastern coal. This segment represents roughly 15-20% of total revenues. The company also operates the CONSOL Marine Terminal at the Port of Baltimore, providing coal export services to facilitate international shipments. Additionally, CNR is developing the Itmann Mining Complex in West Virginia and maintains Greenfield Reserves across the Northern Appalachian, Central Appalachian, and Illinois basins for future development.
Competitive moat
Core Natural Resources possesses a moderate competitive moat built primarily on its strategic asset base and operational scale, though the coal industry faces long-term structural headwinds. The company's geographic diversification across premium coal basins provides some protection against regional disruptions and access to different market segments. The Pennsylvania operations produce high-quality thermal coal with superior heat content, while the metallurgical coal assets in West Virginia serve the specialized steel-making market that has fewer substitutes than power generation coal. The company benefits from long-term contracted sales that provide cash flow stability and reduce commodity price volatility. Approximately 80% of thermal coal production is sold under multi-year contracts, creating predictable revenue streams. The scale advantages from the CONSOL-Arch merger have generated significant cost synergies of $125-150 million annually, improving cost competitiveness against smaller operators. However, the moat faces significant challenges from the ongoing energy transition as utilities increasingly retire coal-fired power plants in favor of natural gas and renewable energy sources. This secular decline in thermal coal demand creates long-term headwinds for the majority of CNR's production. The metallurgical coal business offers better long-term prospects since steel production requires coking coal and has fewer readily available substitutes, though it remains cyclical and subject to global steel demand fluctuations. Regulatory pressures continue to increase operational costs and complexity through environmental compliance requirements. Competition from natural gas for power generation creates ongoing pressure on thermal coal demand, particularly during periods of low gas prices. The company's moat is therefore best characterized as moderately defensive in the near term due to contracted sales and operational efficiency, but structurally challenged over the long term due to energy transition dynamics.
Risks & safety
Core Natural Resources maintains a reasonable margin of safety with strong liquidity but faces cyclical earnings volatility typical of commodity businesses. • Liquidity position: $858 million in total liquidity including $388 million cash and available credit facilities, providing substantial financial flexibility • Debt levels: Low debt-to-equity ratio of 0.09, indicating conservative capital structure with minimal solvency risk • Cash flow volatility: Q1 2025 showed negative $175 million free cash flow due to working capital timing, but full-year 2024 generated $298 million positive free cash flow • Valuation metrics: Trading at 0.99x book value and 17.2x EV/EBITDA based on Q1 run-rate, though full-year 2024 EV/EBITDA was more reasonable at 5.2x • Dividend sustainability: Conservative $0.10 quarterly dividend ($0.40 annual) appears well-covered by normalized earnings • Share buyback capacity: $1 billion authorized repurchase program with $100 million quarterly execution rate demonstrates capital return commitment • Commodity exposure: Earnings highly sensitive to coal price fluctuations, particularly metallurgical coal pricing which can be volatile • Operational risks: Mining operations subject to safety incidents, equipment failures, and regulatory compliance costs
Recent development
Core Natural Resources has undergone significant transformation through the 2024 merger between CONSOL Energy and Arch Resources, creating one of America's largest coal producers. The merger has enabled the company to capture substantial operational synergies of $125-150 million annually through consolidated marketing, administrative efficiencies, and operational improvements across the combined asset base. A key operational development involved addressing the Leer South mine combustion event, where the company successfully managed a mine fire safety incident and has been working to restart longwall mining operations by mid-2025. This represents a significant production capacity restoration that should improve metallurgical coal segment profitability. The company has implemented an aggressive capital return strategy, authorizing a $1 billion share repurchase program and targeting 75% of free cash flow for shareholder returns. This reflects management's confidence in cash generation capabilities and commitment to returning capital rather than pursuing major growth investments in a structurally declining industry. Portfolio optimization efforts focus on leveraging the combined company's expanded product range to better serve customers through coal blending capabilities and optimized logistics networks. The company has identified opportunities to expand market reach and generate additional revenue by offering customized coal quality blends to meet specific customer requirements. Recent refinancing activities have improved the company's liquidity position to $858 million while maintaining low debt levels. The company continues to navigate challenging international coal markets by redirecting export volumes from tariff-affected regions to alternative markets including India, Egypt, and Vietnam, demonstrating operational flexibility in global trade dynamics.
CNR company profile · for informational purposes only — not investment advice.
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