- Core Natural Resources (CNR, Financial) reported a net loss of $69.3 million in Q1 2025, due to merger-related expenses totaling $49.2 million.
- The company achieved an adjusted EBITDA of $123.5 million and revenues of $1,017.4 million during the same period.
- Significant shareholder returns were made, with $106.6 million returned through share buybacks and dividends.
Core Natural Resources, Inc. (CNR) has announced its financial results for the first quarter of 2025, revealing a net loss of $69.3 million, equivalent to $1.38 per diluted share. The loss includes significant merger-related expenses amounting to $49.2 million. Despite this, the company posted solid financial metrics with an adjusted EBITDA of $123.5 million and total revenues reaching $1,017.4 million.
The company's focus on shareholder returns was evident as they returned $106.6 million to investors. This includes $101.3 million used for repurchasing 1.4 million shares at an average price of $73.52 per share, accounting for approximately 3% of outstanding shares. Additionally, a quarterly dividend of $0.10 per share was paid to stakeholders.
Core Natural Resources increased its merger-related synergy targets by 10%, now expecting between $125 and $150 million annually. This adjustment reflects the ongoing consolidation benefits exceeding initial projections. In operational updates, the Leer South mine is on course to resume longwall operations by mid-2025, following a temporary suspension due to a combustion-related event.
As of the end of March 2025, Core maintained a strong liquidity position with total liquidity of $858.3 million, including $388.5 million in cash. This financial robustness is further supported by recent refinancing efforts which have extended maturities and reduced interest rates, enhancing the company's financial flexibility amid continued market volatility.
