Core Natural Resources Q2 2026: Net Income $126.5M, Adj. EBITDA $324M, $148M Free Cash Flow, $68M Returned to Shareholders
CNR sits 30% above its 52-week low of $68.78.
Summary
Core Natural Resources reported Q2 2026 net income of $126.5 million and adjusted EBITDA of $323.6 million, fueled by a large insurance settlement and operational gains. The company returned $68 million to shareholders and provided 2026 guidance reflecting strong contracted positions and cost discipline.
Key Events · Earnings and Guidance · CNR
-
Q2 Earnings Beat
Net income of $126.5 million ($2.51 per diluted share) versus a loss of $36.6 million a year ago. Adjusted EBITDA reached $323.6 million, up from $144.3 million in Q2 2025.
-
Insurance Recovery
Settled the Leer South insurance claim for the full policy limit, recognizing $125.4 million in Q2 and netting $154.5 million in total across all periods.
-
Strong Free Cash Flow
Generated $148 million in free cash flow, up from $55.5 million in Q1 2026, driven by higher operating cash flow and insurance proceeds.
-
Shareholder Returns Accelerate
Returned $68 million in Q2 via $63 million in share repurchases (719,904 shares at $87.54 average) and a $0.10 per share dividend. Total returned since February 2025 now $360.1 million.
Analysis · CNR · Energy & Transportation
A sharp turnaround from last year's loss, Core Natural Resources posted $126.5 million in net income for Q2, powered by a $125.4 million insurance recovery and stronger metallurgical coal margins. Free cash flow jumped to $148 million, enabling $68 million in shareholder returns. Full-year guidance highlights committed and priced positions across all segments, with metallurgical coal costs trending lower. The balance sheet remains a fortress—$1 billion in liquidity and a net cash position—backing an accelerated buyback that has shrunk shares outstanding by nearly 8% since February 2025.
At the time of this filing, CNR was trading at $89.73 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $68.78 to $114.80. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.