Core Natural Resources, Inc. (CNR) Income Statement
CNR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCNR revenue and net income
Where CNR's revenue goes
2025Each bar shows an amount and its share of revenue. CNR kept −3.7% of revenue as net income.
CNR profit margins
CNR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +93.8% | +22.2% | +36.5% | +12.0% |
| Gross profit | −100.1% | — | — | — |
| Operating income | −181.4% | — | — | — |
| Net income | −153.5% | — | — | — |
| EPS (diluted) | −116.9% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CNR quarterly EPS vs estimates
Core Natural Resources beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.83).
CNR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.16B | $2.15B | $2.51B | $2.28B | $1.26B | $879.5M | $1.38B | $1.47B | $1.32B | $1.14B |
| Cost of revenue | $4.17B | $497.6M | $535.4M | $409.3M | $328.4M | $250.8M | $226.8M | $244.8M | $245.7M | $224.6M |
| Gross profit | −$1.1M | $1.65B | $1.97B | $1.87B | $932.6M | $628.7M | $1.15B | $1.23B | $1.08B | $918.9M |
| Sales, general & admin | $214.9M | $115.2M | $103.5M | $116.7M | $87.2M | $72.1M | $627.9M | $307.1M | $293.1M | $302.6M |
| Total operating expenses | $214.9M | $1.39B | $1.22B | $1.07B | $832.5M | $740.3M | $1.02B | $1.01B | $970.3M | $927.2M |
| Operating income | −$216.0M | $265.2M | $747.7M | $804.8M | $100.2M | −$111.6M | $133.7M | $216.2M | $105.4M | −$8.3M |
| Interest income | $14.2M | $19.2M | $13.6M | $6.0M | $194.8M | $1.4M | $674,000 | $140,000 | $238,000 | $146,000 |
| Interest expense | $40.1M | $22.2M | $29.3M | $52.6M | $63.3M | $61.2M | $66.5M | $83.8M | $26.1M | $14.1M |
| Income before taxes | −$233.7M | $330.6M | $777.9M | $568.4M | $35.4M | −$9.2M | $98.1M | $187.6M | $169.8M | $65.0M |
| Income taxes | −$80.5M | $44.2M | $122.0M | $101.5M | $1.3M | $4.0M | $4.5M | $8.8M | $87.2M | $14.6M |
| Net income | −$153.2M | $286.4M | $655.9M | $467.0M | $34.1M | −$9.8M | $76.0M | $153.0M | $67.6M | $41.5M |
| EBITDA | $427.5M | $576.4M | $1.05B | $848.0M | $323.3M | $262.7M | $371.7M | $472.7M | $367.9M | $257.2M |
| EPS (diluted) | −$1.68 | $9.92 | $19.71 | $14.75 | $4.03 | −$0.03 | $2.80 | $5.44 | $1.87 | $0.70 |
| Gross margin | −0.0% | 76.8% | 78.6% | 82.0% | 74.0% | 71.5% | 83.5% | 83.4% | 81.4% | 80.4% |
| Operating margin | −5.2% | 12.3% | 29.8% | 35.3% | 7.9% | −12.7% | 9.7% | 14.7% | 8.0% | −0.7% |
| Net margin | −3.7% | 13.3% | 26.2% | 20.5% | 2.7% | −1.1% | 5.5% | 10.4% | 5.1% | 3.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.14B | $1.08B | $1.04B | $1.00B | $1.10B | $1.02B | $569.8M | $549.6M | $490.7M | $546.7M | $634.3M | $540.7M |
| Cost of revenue | $1.06B | $1.03B | $1.11B | $978.5M | $1.08B | $991.9M | $133.5M | $116.7M | $398.9M | $411.0M | $135.1M | $127.2M |
| Gross profit | $85.3M | $58.8M | −$71.3M | $24.1M | $20.5M | $25.6M | $436.3M | $432.9M | $91.8M | $135.7M | $499.2M | $413.5M |
| Sales, general & admin | $26.7M | $36.1M | $56.6M | $34.1M | $34.8M | $40.1M | $37.6M | $36.2M | $20.9M | $20.6M | $23.7M | $37.3M |
| Total operating expenses | −$70.5M | $36.1M | $59.7M | $35.9M | $39.8M | $79.5M | $423.0M | $340.3M | $20.0M | $11.6M | $330.2M | $313.6M |
| Operating income | $155.8M | $22.7M | −$131.0M | −$11.8M | −$19.3M | −$53.9M | $13.3M | $92.6M | $71.9M | $124.0M | $169.0M | $99.9M |
| Interest income | $4.5M | $4.7M | $5.9M | $7.6M | $6.4M | $6.3M | $1.9M | $336,000 | $4.6M | $4.5M | — | — |
| Interest expense | $11.6M | $11.2M | $11.4M | $10.6M | $10.1M | $8.0M | $7.1M | $4.7M | $5.0M | $5.4M | $5.2M | $6.6M |
| Income before taxes | $143.0M | $20.6M | −$109.4M | −$21.4M | −$29.4M | −$73.5M | $31.7M | $113.2M | $67.1M | $118.7M | $178.8M | $121.8M |
| Income taxes | $16.5M | −$427,000 | −$30.4M | −$53.0M | $7.1M | −$4.2M | $833,000 | $17.5M | $9.0M | $16.8M | $21.8M | $21.0M |
| Net income | $126.5M | $21.0M | −$79.0M | $31.6M | −$36.6M | −$69.3M | $30.8M | $95.6M | $58.1M | $101.9M | $157.1M | $100.7M |
| EBITDA | $321.4M | $178.1M | $81.3M | $140.2M | $149.9M | $56.1M | $97.1M | $171.2M | $126.9M | $181.1M | $242.5M | $187.2M |
| EPS (diluted) | $0.55 | $0.54 | −$1.54 | $0.78 | −$0.68 | −$0.24 | $1.04 | $3.53 | $1.96 | $3.39 | $5.05 | $3.11 |
| Gross margin | 7.5% | 5.4% | −6.8% | 2.4% | 1.9% | 2.5% | 76.6% | 78.8% | 18.7% | 24.8% | 78.7% | 76.5% |
| Operating margin | 13.7% | 2.1% | −12.6% | −1.2% | −1.7% | −5.3% | 2.3% | 16.9% | 14.6% | 22.7% | 26.6% | 18.5% |
| Net margin | 11.1% | 1.9% | −7.6% | 3.2% | −3.3% | −6.8% | 5.4% | 17.4% | 11.8% | 18.6% | 24.8% | 18.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CNR's financial statements (latest annual report filed February 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CNR financial results
In fiscal year 2025 (ended December 31, 2025), Core Natural Resources reported revenue of $4.2 billion, up 93.8% from the year before. It had a net loss of $153.2 million, a net profit margin of −3.7%. Diluted earnings per share came to −$1.68. Over five years revenue grew at an average rate of 36.5% a year.
See the CNR stock overview for the latest quote and news, or the CNR chart for price history and technical indicators.
CNR income statement FAQ
What is Core Natural Resources's annual revenue?
Core Natural Resources reported total revenue of $4.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 93.8% from $2.1 billion the previous year.
Is Core Natural Resources profitable?
No. Core Natural Resources reported a net loss of $153.2 million in fiscal 2025, a net profit margin of −3.7%; its operating margin was −5.2%.
What is Core Natural Resources's gross margin?
Core Natural Resources's gross margin was −0.0% in fiscal 2025: for every $100 of revenue, Core Natural Resources kept $-0 after the direct cost of its products and services.
How fast is Core Natural Resources growing?
Revenue grew 36.5% a year on average over the last five fiscal years, from $879.5 million to $4.2 billion.
What are Core Natural Resources's earnings per share?
Core Natural Resources earned $-1.68 per diluted share in fiscal 2025, compared with $9.92 a year earlier.
When will Core Natural Resources report its next earnings?
Core Natural Resources is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Core Natural Resources's fiscal year end?
Core Natural Resources's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 17, 2026.