Filing Flows › Core Natural Resources (CNR) › Q4 2025
Core Natural Resources (CNR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
Core Natural Resources (CNR) reported revenue of $1.0B for the fourth quarter 2025 (Q4 2025), +62% from a year earlier and +4% from the quarter before. Operating margin was -9.3%, net loss $79.0M (7.6% of revenue).
Core Natural Resources, Q4 2025: revenue $1.0B (+62% year over year), operating margin -9.3%, net loss $79.0M, operating cash flow $107M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +4% | +62% |
| Operating profit | −$97.1M | — | — |
| Net earnings | −$79.0M | -350% | — |
| Operating cash flow | $107M | +22% | -12% |
| Free cash flow | $27.0M | — | — |
What changed
Revenue was $1.0B in Q4 2025, up 62% year over year and up 4% from the previous quarter. Power Generation was the largest line at 45% of revenue.
Operating costs exceeded revenue by $0.10B, an operating margin of -9.3%. Total costs grew 88% against revenue growth of 62%. The fastest-growing cost line was Cost of revenue (+147%). The quarter ended with a net loss of $0.08B, after a profit of $0.03B the previous quarter.
Operating cash flow was $0.11B (down 12% year over year). Non-cash charges added back $0.18B of depreciation and amortization. Working capital and other items added $0.01B. After capital Expenditures, net ($0.08B) and investments in Mining-Related Activities ($77K), free cash flow as the company reports it was $0.03B.
Questions
What was Core Natural Resources' revenue in the fourth quarter 2025?
Core Natural Resources (CNR) reported revenue of $1.0B for the fourth quarter 2025 (Q4 2025), +62% from a year earlier and +4% from the quarter before.
Was Core Natural Resources profitable in the fourth quarter 2025?
Operating loss was $97.1M (-9.3% of revenue) and net loss $79.0M.