olivLaw · US equity research
Core Natural Resources, Inc. CNR
Silver Ores · SIC 1220 · Vertical: Coal mining (SIC 122x)
Core Natural Resources is a North American producer and exporter of metallurgical and thermal coal, formed through the January 2025 merger with Arch. In the second quarter of 2026 the company reported revenue of about 1.1 billion USD and adjusted EBITDA of 323.6 million USD, amid a soft market with improving demand prospects.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, Core Natural Resources, Inc. (CNR) stock was 75.21 USD (−6.25% on the day), with market capitalisation 3.7 bn USD, P/E 48.3 on diluted EPS of 1.56 USD over the last 12 months, dividend yield 0.53%, beta 0.47, 52-week range 75.21–113.23 USD. Latest reported quarter (Q3 2026): revenue of 1.1 bn USD (+14.2% YoY), net income of 9.0 m USD (−71.5% YoY), diluted EPS 0.18 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 25.9
- oversold (≤ 30)
- Bollinger (20, 2)
- 79.50 – 95.56
- below the lower band · %B -0.27 · band width 18.3%
- SMA 50 / 200
- 91.44 / 90.51
- mixed trend
- MACD (12, 26, 9)
- -2.66 / -1.48
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −16.6% | −5.9% | −10.7 pp | — |
| 3 months | −16.4% | −4.6% | −11.8 pp | — |
| 6 months | −15.1% | +0.2% | −15.3 pp | — |
| Year to date | −15.0% | +7.4% | −22.5 pp | — |
| 1 year | −3.1% | +8.2% | −11.3 pp | −20.5% |
| 3 years | −21.9% | +68.4% | −90.3 pp | −18.3% |
| 5 years | +214.4% | +56.5% | +157.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 645.5 m | 1.0 bn | 1.1 bn | 1.0 bn | 1.0 bn | 1.1 bn | 1.1 bn | 1.1 bn |
| Cost of revenue | 378.9 m | 870.3 m | 912.6 m | 827.5 m | 934.5 m | 879.2 m | 889.0 m | 947.2 m |
| SG&A | 37.6 m | — | — | — | — | — | — | — |
| Operating income | 37.9 m | -53.9 m | -19.3 m | -11.8 m | -97.1 m | 32.7 m | 155.8 m | 6.7 m |
| Depreciation & amortisation | 58.4 m | 121.6 m | 169.3 m | 151.0 m | 179.2 m | 146.3 m | 166.8 m | 159.3 m |
| Interest expense | 7.1 m | 1.7 m | 3.7 m | 10.6 m | 11.4 m | 11.2 m | 11.6 m | 10.3 m |
| Pre-tax income | 31.7 m | -73.5 m | -29.4 m | -21.4 m | -109.4 m | 20.6 m | 143.0 m | -3.6 m |
| Income tax | 833.0 k | -4.2 m | 7.1 m | -53.0 m | -30.4 m | -427.0 k | 16.5 m | -12.6 m |
| Net income | 30.8 m | -69.3 m | -36.6 m | 31.6 m | -79.0 m | 21.0 m | 126.5 m | 9.0 m |
| Diluted EPS | 1.04 ≈ | -1.38 | -0.70 | 0.61 | -1.54 ≈ | 0.41 | 2.51 | 0.18 |
| Operating cash flow | 121.3 m | -109.6 m | 220.2 m ≈ | 87.9 m ≈ | 107.3 m | 119.4 m | 250.4 m ≈ | 174.6 m ≈ |
| Capex | 40.8 m | 64.8 m | 89.2 m ≈ | 49.3 m ≈ | 81.3 m | 73.1 m | 101.9 m ≈ | 94.4 m ≈ |
| Dividends paid | 7.4 m | 10.7 m | 5.2 m ≈ | 5.1 m ≈ | 5.2 m | 5.1 m | 5.0 m ≈ | 4.9 m ≈ |
| Share repurchases | 0 | 101.3 m | 81.9 m ≈ | 19.4 m ≈ | 21.7 m | 41.9 m | 63.0 m ≈ | 84.7 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 93 percentile of its own 28-quarter history (min 1.6, median 8.5, max 55.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.5 bn | 1.4 bn | 1.0 bn | 1.3 bn | 2.1 bn | 2.6 bn | 2.2 bn | 4.2 bn |
| Revenue YoY | +8.5% | −6.6% | −28.6% | +23.2% | +67.0% | +22.2% | −12.9% | +86.2% |
| Net income | 153.0 m | 76.0 m | -9.8 m | 34.1 m | 467.0 m | 655.9 m | 286.4 m | -153.2 m |
| Net income YoY | +126.2% | −50.3% | −112.8% | unavailable | +1,269.0% | +40.5% | −56.3% | −153.5% |
| Diluted EPS | 5.38 | 2.81 | -0.37 | 0.96 | 13.07 | 19.79 | 9.61 | -2.98 |
| Diluted EPS YoY | +124.2% | −47.8% | −113.2% | unavailable | +1,261.5% | +51.4% | −51.4% | −131.0% |
| net % | 10.0% | 5.3% | -1.0% | 2.7% | 22.2% | 25.5% | 12.8% | -3.7% |
| Free cash flow | 267.8 m | 74.8 m | 43.3 m | 172.8 m | 479.5 m | 690.2 m | 298.4 m | 21.2 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 432.2 m USD
- Financial debt
- 394.8 m USD
- Net debt
- -37.4 m USD
- Equity
- 3.7 bn USD
- Total assets
- 6.1 bn USD
- Debt / equity
- 0.11x
- Current ratio
- 1.60x
- ROE
- -5.8%
- ROA
- -3.4%
- FCF margin
- 0.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.0 bn | 1.3 bn | 2.1 bn | 2.6 bn | 2.2 bn | 4.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Cost of revenue | — | — | — | 1.4 bn | 1.4 bn | 3.5 bn | SEC (XBRL)· 17 Feb 2026verified |
| Gross profit | — | — | — | 1.2 bn ≈ | 804.9 m ≈ | 620.0 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| SG&A | 72.1 m | 87.2 m | 116.7 m | 103.5 m | 115.2 m | — | SEC (XBRL)· 20 Feb 2025verified |
| Operating income | — | — | — | 803.3 m | 351.0 m | -182.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Depreciation & amortisation | 210.8 m | 224.6 m | 226.9 m | 241.3 m | 223.5 m | 621.1 m | SEC (XBRL)· 17 Feb 2026verified |
| EBITDA | — | — | — | 1.0 bn ≈ | 574.5 m ≈ | 439.0 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Interest expense | 61.2 m | 63.3 m | 52.6 m | 29.3 m | 22.2 m | 40.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Pre-tax income | -9.2 m | 35.4 m | 568.4 m | 777.9 m | 330.6 m | -233.7 m | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | 4.0 m | 1.3 m | 101.5 m | 122.0 m | 44.2 m | -80.5 m | SEC (XBRL)· 17 Feb 2026verified |
| Net income | -9.8 m | 34.1 m | 467.0 m | 655.9 m | 286.4 m | -153.2 m | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | -0.37 | 0.96 | 13.07 | 19.79 | 9.61 | -2.98 | SEC (XBRL)· 17 Feb 2026verified |
| Weighted average diluted shares | 26.1 m | 35.4 m | 35.7 m | 33.1 m | 29.8 m | 51.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividend per share | 0.00 | 0.00 | 2.05 | 2.20 | 0.50 | 0.40 | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 50.9 m | 149.9 m | 273.1 m | 199.4 m | 408.2 m | 432.2 m | SEC (XBRL)· 17 Feb 2026verified |
| Receivables | 118.3 m | 104.1 m | 158.1 m | 147.6 m | 136.8 m | 349.2 m | SEC (XBRL)· 17 Feb 2026verified |
| Inventories | 56.2 m | 62.9 m | 66.3 m | 88.2 m | 96.2 m | 374.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Current assets | 292.9 m | 386.3 m | 598.5 m | 601.0 m | 786.0 m | 1.3 bn | SEC (XBRL)· 17 Feb 2026verified |
| Property, plant & equipment, net | 2.0 bn | 2.0 bn | 2.0 bn | 1.9 bn | 1.9 bn | — | SEC (XBRL)· 08 May 2025verified |
| Total assets | 2.5 bn | 2.6 bn | 2.7 bn | 2.7 bn | 2.9 bn | 6.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Accounts payable | 71.2 m | 76.6 m | 130.2 m | 137.2 m | 143.6 m | 335.6 m | SEC (XBRL)· 17 Feb 2026verified |
| Short-term debt | 33.7 m | 36.6 m | 4.7 m | 1.6 m | 103.9 m | 77.6 m | SEC (XBRL)· 17 Feb 2026verified |
| Long-term debt | 566.9 m | 568.1 m | 342.1 m | 181.9 m | 79.5 m | 317.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Current liabilities | 368.5 m | 445.2 m | 448.8 m | 443.7 m | 518.7 m | 838.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Total liabilities | 2.0 bn | 1.9 bn | 1.5 bn | 1.3 bn | 1.3 bn | 2.5 bn | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 553.5 m | 672.8 m | 1.2 bn | 1.3 bn | 1.6 bn | 3.7 bn † | SEC (XBRL)· 17 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 129.3 m | 305.6 m | 651.0 m | 857.9 m | 476.4 m | 305.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Capex | 86.0 m | 132.8 m | 171.5 m | 167.8 m | 178.0 m | 284.6 m | SEC (XBRL)· 17 Feb 2026verified |
| Free cash flow | 43.3 m ≈ | 172.8 m ≈ | 479.5 m ≈ | 690.2 m ≈ | 298.4 m ≈ | 21.2 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Investing cash flow | -76.3 m | -127.4 m | -142.2 m | -259.4 m | -165.0 m | 47.7 m | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | -82.4 m | -30.9 m | -380.1 m | -682.2 m | -107.1 m | -199.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividends paid | 0 | 0 | 71.5 m | 75.5 m | 15.9 m | 26.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Share repurchases | 0 | 0 | 0 | 399.4 m | 70.9 m | 224.3 m | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 59 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 3.7 bn USD
Key indicators
Coverage and freshness
Score by group
- Growth100
- Returns94
- Balance sheet35
- Valuation64
- Quality42
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 5.26 – 184.26 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)123.05 – 184.26 (Mid 146.89)WACC 9.2% · starting FCFF 338.4 m USD · terminal value share of EV 74%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -15.8%
- Peers: EV/EBITDA122.70 – 181.43 (Mid 131.76)5 companies used · median multiple 8.1x · quartiles 7.5x – 11.3xAMR, ARLP, BTU, HCC, NRP
- Peers: P/E22.39 – 26.86 (Mid 24.97)4 companies used · median multiple 16.0x · quartiles 14.4x – 17.3xARLP, HCC, NC, NRP
- Dividend discount (DDM)5.26 – 7.07 (Mid 6.03)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 59/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 2.4% | 3 (on a fixed band) | 11% |
| Net margin · Quality | 1.8% | 50 (vs peers) | 7% |
| FCF conversion · Quality | 388.2% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 25.6% | 100 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | -0.5x | 33 (vs peers) | 11% |
| Interest coverage · Balance sheet | 2.2x | 11 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 1.7x | 76 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 48.3x | 0 (vs peers) | 11% |
| EV/EBITDA · Valuation | 4.4x | 100 (vs peers) | 11% |
| FCF yield · Valuation | 8.2% | 100 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 6.3% | 90 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | 6.7% | 100 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet35/100 · 3/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality42/100 · 3/3 factors with a value
- Returns94/100 · 2/2 factors with a value
- Valuation64/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Core Natural Resources, Inc. (CNR). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 4.2 bn USD in 2025; YoY growth 86.2%; net margin 1.8%; ROE 2.1%; net debt/EBITDA -0.5x.
The estimated value range is 72.55–104.15 USD per share (median of 4 methods, agreement: low); assumptions are illustrative. Against the central value of 78.37 USD, the price of 75.21 USD leaves a potential of 4.2% (value / price − 1) and a margin of safety of 4.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 59/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 388.2%
- Revenue CAGR 3Y: 25.6%
- Current ratio: 1.7x
- EV/EBITDA: 4.4x
- FCF yield: 8.2%
- Shareholder yield (distributions): 6.3%
- Payout ratio (FCF): 6.7%
What contradicts it
- ROIC: 2.4%
- Interest coverage: 2.2x
- P/E (TTM): 48.3x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y.
Versus the vertical median
Coal mining (SIC 122x) · same industry group (3-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| HCCWarrior Met Coal, Inc. | 4.3 bn | 18.4 | 10.4% | 12.5% | −14.1% | +3% / +44% |
| CNRCore Natural Resources, Inc. | 3.7 bn | 48.3 | 2.1% | 1.8% | +86.2% | −3% / −22% |
| ARLPAlliance Resource Partners LP | 3.2 bn | 11.9 | — | 12.3% | −10.4% | +1% / +17% |
| BTUPeabody Energy Corp | 2.0 bn | — | -5.0% | -4.3% | −8.9% | −41% / −33% |
| AMRAlpha Metallurgical Resources, Inc. | 1.8 bn | — | -3.0% | -2.2% | −28.0% | −10% / −49% |
| NRPNatural Resource Partners LP | 1.6 bn | 15.2 | — | — | −16.6% | +12% / +54% |
| METCRamaco Resources, Inc. | 275.4 m | — | -15.0% | -12.2% | −19.5% | −60% / −62% |
| ARECAmerican Resources Corporation | 101.5 m | 1.5 | 718.3% | — | −100.0% | −66% / −43% |
| NCNacco Industries, Inc. | — | 16.9 | 3.4% | 5.3% | +16.6% | −31% / −4% |
1- and 3-year price returns: for CNR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 50.27 Total return -33% · Per year -33% | 88.47 Total return 18% · Per year 18% | 132.71 Total return 77% · Per year 77% |
| 3 years | 59.63 Total return -19% · Per year -7% | 117.00 Total return 58% · Per year 16% | 191.10 Total return 157% · Per year 37% |
| 5 years | 70.73 Total return -3% · Per year -1% | 154.74 Total return 110% · Per year 16% | 275.18 Total return 271% · Per year 30% |
- Exit P/E± 29.25
- Net margin± 20.48
- Annual revenue growth± 15.27
- Annual dilution± 1.72
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (05 Nov 2026 · results), 10-Q (05 Nov 2026).
In brief
Core Natural Resources is a North American producer and exporter of metallurgical and thermal coal, formed through the January 2025 merger with Arch. In the second quarter of 2026 the company reported revenue of about 1.1 billion USD and adjusted EBITDA of 323.6 million USD, amid a soft market with improving demand prospects 3.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Price volatilityhigh
Coal prices can fluctuate widely due to supply, weather and competition from natural gas 1.
- Customer concentrationmedium
Reliance on large customers and long-term contracts could affect profitability if they are not renewed on favorable terms 1.
- Mine operating risksmedium
Equipment failures, geological events and transport disruptions could affect production 1.
- Environmental regulationmedium
Costs linked to emissions and contamination could rise and affect the coal market 1.
- Debt and access to capitallow
Limited access to capital markets or rising interest rates could affect results and cash flows 1.
Investment thesis
What would need to be true (bull case)
- If U.S. power demand grows and metallurgical prices recover, the company could convert its low costs into higher margins 3.
- The capital return program and share count reduction could support shareholder value if cash flow stays strong 3.
- Export facilities and owned terminals could provide access to global markets even when the domestic market is weak 1.
What would break the thesis
What to watch
- Delivery against guidance for High CV Thermal volumes and cost per ton2026
- East Coast metallurgical prices and PRB volumes in the second half of the year2026
- Effect of the metallurgical coal tax credit and lower federal royalty rates2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (05 Nov 2026 · results), 10-Q (05 Nov 2026).
The business
Its assets include marine export terminals in which it holds ownership interests and access to other third-party terminals, giving global reach 1. Recoverable reserves at December 31, 2025 total 529.0 million tons in the PAMC complex and 170.2 million tons in the Leer Complex 1. The strategy emphasizes cash generation, capital returns through buybacks and dividends, and evaluation of critical minerals 13.
Market context
U.S. thermal coal demand was pressured in the second quarter of 2026 by moderate temperatures, low natural gas prices and high customer stockpiles 3. The longer-term outlook depends on rising power demand tied to reindustrialization and AI-driven data center growth, which could support demand 3.
Seaborne metallurgical markets remain muted after two years of falling global hot metal output, and U.S. East Coast coking coal prices trail Australian indices 3. The company believes prices could recover if global hot metal demand rebounds 3.
Trends
- Power demand from data centerstailwind
The expansion of artificial intelligence and data center construction is raising global electricity demand, and the company says it could redirect production toward coal 13. If this growth materializes, it could support thermal volumes.
- Regulatory support for coaltailwind
April 2025 executive orders and the July 2025 OBBBA law aim to reduce the regulatory burden on coal power plants and provide a tax credit for metallurgical coal production from 2026 1. The effect depends on legal interpretations and later Treasury rulings 1.
- Volatility in coal pricesheadwind
Coal prices are volatile and depend on oversupply, weather, natural gas prices and plans to close coal-fired plants 1. A prolonged decline could affect results and cash flows 1.
- Energy transition and emissions rulesmixed
Efforts to curb pollution and greenhouse gas emissions could raise operating costs and reduce long-term coal demand, while supporting short-term demand in some markets 1. The net effect remains uncertain 1.
Competitive position
The company competes with other coal producers in the Appalachian and Powder River Basins and with Australian producers in seaborne metallurgical markets 13. Its advantages are low costs, large reserves and terminal access, but the market remains competitive 1.
In metallurgical coal, its Leer product competes with Australian premium low-vol coals, and in thermal coal with natural gas and other energy sources 3. Competition depends on prices, transport costs and product quality 1.
- Alliance Resource PartnersARLP
Appalachian coal producer named as a competitor in the U.S. energy market
- Peabody EnergyBTU
U.S. producer of metallurgical and thermal coal with overlapping export markets
- Australian coal producers
Australian premium metallurgical coal producers competing with Leer products in seaborne markets
- Natural gas producers
Natural gas producers compete indirectly with thermal coal in power generation
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report05 Nov 2026
- Current report05 Nov 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report19 Aug 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report04 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report19 May 2026Item 1.04
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report04 May 2026Item 1.04
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Core Natural Resources, Inc. · 17 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Core Natural Resources, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Core Natural Resources, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.