Filing Flows › Core Natural Resources (CNR) › Q2 2025
Core Natural Resources (CNR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Core Natural Resources (CNR) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), +125% from a year earlier and +8% from the quarter before. Operating margin was -1.7%, net loss $36.6M (3.3% of revenue).
Core Natural Resources, Q2 2025: revenue $1.1B (+125% year over year), operating margin -1.7%, net loss $36.6M, operating cash flow $220M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +8% | +125% |
| Operating profit | −$19.3M | — | — |
| Net earnings | −$36.6M | — | — |
| Operating cash flow | $220M | — | +89% |
| Free cash flow | $131M | — | — |
What changed
Revenue was $1.1B in Q2 2025, up 125% year over year and up 8% from the previous quarter. Power Generation was the largest line at 43% of revenue. Metallurgical added $0.27B year over year (up 349%), 44% of the total change. Third-Party Terminal Revenue declined 4%.
Operating costs exceeded revenue by $0.02B, an operating margin of -1.7%. Total costs grew 168% against revenue growth of 125%. The fastest-growing cost line was Other operating costs (+223%). The quarter ended with a net loss of $0.04B, narrower than the previous quarter's $0.07B loss.
Operating cash flow was $0.22B (up 89% year over year). Non-cash charges added back $0.17B of depreciation and amortization. Working capital and other items added $0.09B. After capital Expenditures, net ($0.09B) and investments in Mining-Related Activities ($128K), free cash flow as the company reports it was $0.13B.
Questions
What was Core Natural Resources' revenue in the second quarter 2025?
Core Natural Resources (CNR) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), +125% from a year earlier and +8% from the quarter before.
Was Core Natural Resources profitable in the second quarter 2025?
Operating loss was $19.3M (-1.7% of revenue) and net loss $36.6M.