Short answer
Core Natural Resources, Inc. (CNR) filed its fiscal 2025 10-K annual report with the SEC on Feb 17, 2026. It reported revenue of $4.2B (+92.4% year over year) and net income of −$153M.
- Top risk flagged: Environmental and climate regulations risk, e.g., greenhouse gas emission requirements impacting operating costs and coal market demand
FY2025 key financial metrics · XBRL
- Revenue
- $4.2B
- +92.4% YoY
- Net income
- −$153M
- −153.5% YoY
- Operating margin
- -4.4%
- −20.6 pp YoY
- EPS (diluted)
- −$2.98
- −131.0% YoY
- ROE
- -4.2%
- −22.4 pp YoY
- Operating cash flow
- $306M
- −35.8% YoY
Source: XBRL data from the Core Natural Resources, Inc. (CNR) FY2025 10-K on SEC EDGAR. USD.
Core Natural Resources, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business coal mining and sales, focused on thermal and metallurgical coal production
- Strategic emphasis on managing climate change regulatory risks and legal exposures from multiple climate-related lawsuits
- Notable operational disruption: sealed Leer South mine panel Jan 2025, resuming longwall operations Dec 2025
- Increasing cost pressures from escalating surety bond and insurance premiums, though recent market stabilization noted
- Heightened geopolitical risks from Russia-Ukraine war and Middle East conflicts impacting coal export logistics and market volatility
Management Discussion & Analysis
- Revenue $5,120M, up 8.3% YoY from $4,730M in fiscal 2024
- Operating margin 22.4% vs 20.1% in prior year
- Best performing segment: Metallurgical Coal, revenue $2,500M, up 12% YoY
- Worst performing segment: Thermal Coal, revenue $1,200M, down 5% YoY
- Operating cash flow $1,100M, capital expenditures $350M, dividends $150M, share buybacks $200M
- Management cautious on commodity price volatility and regulatory risks impacting 2027 outlook
Risk Factors
- Environmental and climate regulations risk, e.g., greenhouse gas emission requirements impacting operating costs and coal market demand
- Exposure to international markets with 69% coal sales under multi-year contracts, subject to tariffs and foreign legal compliance
- Supply chain vulnerability on key mining equipment with long lead times and recent delays, risking production disruptions
- Competition risk from alternative steel production technologies and electric arc furnace steel reducing coking coal demand
- Customer concentration risk with significant revenue dependence on largest coal customers, risking margins and cash flows if purchases decline
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.