10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended September 30, 2025

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to ______

Commission file number: 001-38147

Core Natural Resources, Inc.

(Exact name of registrant as specified in its charter)

Delaware	82-1954058
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

275 Technology Drive Suite 101

Canonsburg, PA 15317-9565

(724) 416-8300

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	CNR	New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Core Natural Resources, Inc. had 51,239,470 shares of common stock, $0.01 par value, outstanding at October 31, 2025.

TABLE OF CONTENTS

	Part I. Financial Information	Page
Item 1.	Financial Statements
	Consolidated Statements of Income (Loss) for the three and nine months ended September 30, 2025 and 2024 (Unaudited)	4
	Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2025 and 2024 (Unaudited)	5
	Consolidated Balance Sheets at September 30, 2025 (Unaudited) and December 31, 2024	6
	Consolidated Statements of Stockholders' Equity for the three and nine months ended September 30, 2025 and 2024 (Unaudited)	8
	Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and 2024 (Unaudited)	10
	Notes to Consolidated Financial Statements	11
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	32
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	53
Item 4.	Controls and Procedures	53
	Part II. Other Information
Item 1.	Legal Proceedings	53
Item 1A.	Risk Factors	53
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	54
Item 3.	Defaults Upon Senior Securities	55
Item 4.	Mine Safety Disclosures	55
Item 5.	Other Information	55
Item 6.	Exhibits	55
	Signatures	62

2

Explanatory Note

Core Natural Resources, Inc. was formerly known as CONSOL Energy Inc., a Delaware corporation. On January 14, 2025, CONSOL Energy Inc. completed its previously announced all-stock merger of equals transaction (the “Merger”) with Arch Resources, Inc., a Delaware corporation (“Arch”), pursuant to that certain Agreement and Plan of Merger, dated as of August 20, 2024 (the “Merger Agreement”), by and among CONSOL Energy Inc., Mountain Range Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of CONSOL Energy Inc. (“Merger Sub”), and Arch. Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into Arch, with Arch continuing as the surviving corporation and as a wholly-owned subsidiary of CONSOL Energy Inc. As a result of the Merger and pursuant to the Merger Agreement, CONSOL Energy Inc. was renamed “Core Natural Resources, Inc.” and began trading under the ticker symbol “CNR” on January 15, 2025.

Important Definitions Referenced in this Quarterly Report on Form 10-Q

•“Core Natural Resources,” “Core,” “we,” “our,” “us,” “our Company” and “the Company” refer to Core Natural Resources, Inc. (formerly known as CONSOL Energy Inc. before the effective time of the Merger) and its subsidiaries;

•“Arch” refers to Arch Resources, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company following the Merger;

•“Baltimore Marine Terminal” refers to the Company's terminal operations located in the Port of Baltimore, Maryland;

•“Beckley” refers to the Company's low-vol metallurgical mining complex located in Raleigh County, West Virginia;

•“Black Thunder” refers to the Company's sub-bituminous thermal surface mining complex located in Campbell County, Wyoming;

•“Coal Creek” refers to the Company's sub-bituminous thermal surface mining complex located in Campbell County, Wyoming;

•“Dominion Terminal” refers to the ground storage-to-vessel coal transloading facility in Newport News, Virginia operated by DTA;

•“DTA” refers to Dominion Terminal Associates LLP, a limited liability partnership, in which the Company owns a 35% interest;

•“former parent” refers to CNX Resources Corporation and its consolidated subsidiaries;

•“Greenfield Reserves and Resources” refers to those undeveloped reserves and resources controlled by the Company in the Northern Appalachian, Central Appalachian, Illinois and Powder River basins that are not associated with active mining complexes;

•“Itmann” refers to the Company's low-vol metallurgical mining complex located in Wyoming County, West Virginia;

•“Leer” refers to the Company's high-vol metallurgical mining complex located in Taylor County, West Virginia;

•“Leer South” refers to the Company's high-vol metallurgical mining complex located in Barbour County, West Virginia;

•“Merger” refers to the Company's all-stock merger of equals transaction with Arch that closed on January 14, 2025;

•“Merger Agreement” refers to the Agreement and Plan of Merger, dated as of August 20, 2024, by and among the Company, Mountain Range Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of the Company, and Arch;

•“Mountain Laurel” refers to the Company's high-vol metallurgical mining complex located in Logan County and Boone County, West Virginia;

•“Pennsylvania Mining Complex” or “PAMC” refers to the Company's Bailey, Enlow Fork and Harvey high calorific value thermal coal mines, and the Central Preparation Plant serving those mines, located in southwestern Pennsylvania and northern West Virginia; and

•“West Elk” refers to the Company's high calorific value thermal mining complex located in Gunnison County, Colorado.

3

PART I: FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CORE NATURAL RESOURCES, INC.

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Dollars in thousands, except per share data)

(Unaudited)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Revenues	$	1,002,543	$	553,432	$	3,122,310	$	1,590,841
Costs and Expenses:
Cost of Sales (exclusive of items shown separately below)	827,472		354,418		2,610,342		1,052,495
Depreciation, Depletion and Amortization	151,006		53,329		441,825		165,173
General and Administrative Costs	34,133		36,151		158,285		77,669
Other Operating Expense (Income), net	1,742		(7,685)		(3,169)		(17,608)
	1,014,353		436,213		3,207,283		1,277,729
(Loss) Income from Operations	(11,810)		117,219		(84,973)		313,112
Interest Expense	(10,606)		(4,664)		(28,676)		(15,063)
Interest Income	7,578		5,016		20,297		14,145
Loss on Debt Extinguishment	—		—		(11,680)		—
Non-Service Related Pension and Postretirement Benefit Costs	(6,562)		(4,400)		(19,301)		(13,201)
(Loss) Earnings Before Income Tax	(21,400)		113,171		(124,333)		298,993
Income Tax (Benefit) Expense	(52,998)		17,539		(50,098)		43,409
Net Income (Loss)	$	31,598	$	95,632	$	(74,235)	$	255,584
Earnings (Loss) per Share:
Total Basic Earnings (Loss) per Share	$	0.61	$	3.23	$	(1.44)	$	8.60
Total Diluted Earnings (Loss) per Share	$	0.61	$	3.22	$	(1.44)	$	8.57
Dividends Declared per Common Share	$	0.10	$	0.25	$	0.30	$	0.25

The accompanying notes are an integral part of these consolidated financial statements.

4

CORE NATURAL RESOURCES, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Dollars in thousands)

(Unaudited)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Net Income (Loss)	$	31,598	$	95,632	$	(74,235)	$	255,584
Other Comprehensive Income:
Actuarially Determined Long-Term Liability Adjustments (Net of tax: ($109), ($111), ($327), ($332))	378		385		1,134		1,155
Unrealized Gain on Investments in Available-for-Sale Securities (Net of tax: ($117), ($69), ($164), ($28))	406		238		569		95
Other Comprehensive Income	784		623		1,703		1,250
Comprehensive Income (Loss)	$	32,382	$	96,255	$	(72,532)	$	256,834

The accompanying notes are an integral part of these consolidated financial statements.

5

CORE NATURAL RESOURCES, INC.

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share and per share data)

	(Unaudited)
	September 30, 2025		December 31, 2024
ASSETS
Current Assets:
Cash and Cash Equivalents	$	444,672	$	408,240
Short-Term Investments	—		51,993
Accounts and Notes Receivable:
Trade Receivables, net	328,601		136,750
Other Receivables, net	46,279		25,900
Inventories	407,500		96,201
Other Current Assets	173,366		66,874
Total Current Assets	1,400,418		785,958
Total Property, Plant and Equipment—Net	4,390,382		1,921,699
Other Assets:
Funds for Asset Retirement Obligations	139,931		12,054
Salary Retirement	45,654		41,938
Other Noncurrent Assets, net	219,503		117,894
Total Other Assets	405,088		171,886
TOTAL ASSETS	$	6,195,888	$	2,879,543

The accompanying notes are an integral part of these consolidated financial statements.

6

CORE NATURAL RESOURCES, INC.

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share and per share data)

	(Unaudited)
	September 30, 2025		December 31, 2024
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable	$	286,323	$	143,635
Current Portion of Long-Term Debt	83,796		112,865
Other Accrued Liabilities	399,644		262,184
Total Current Liabilities	769,763		518,684
Long-Term Debt:
Long-Term Debt	313,221		79,524
Finance Lease Obligations	21,291		15,270
Total Long-Term Debt	334,512		94,794
Deferred Credits and Other Liabilities:
Postretirement Benefits Other Than Pensions	208,947		176,251
Pneumoconiosis Benefits	250,293		145,489
Asset Retirement Obligations	492,044		212,178
Workers’ Compensation	74,273		36,051
Salary Retirement	20,619		20,073
Deferred Income Taxes	158,035		49,214
Other Noncurrent Liabilities	108,608		58,562
Total Deferred Credits and Other Liabilities	1,312,819		697,818
TOTAL LIABILITIES	2,417,094		1,311,296
Stockholders' Equity:
Common Stock, $0.01 Par Value; 125,000,000 Shares Authorized, 51,216,697 Shares Issued and Outstanding at September 30, 2025; 62,500,000 Shares Authorized, 29,407,830 Shares Issued and Outstanding at December 31, 2024	512		294
Capital in Excess of Par Value	2,991,513		540,412
Retained Earnings	919,639		1,162,114
Accumulated Other Comprehensive Loss	(132,870)		(134,573)
TOTAL STOCKHOLDERS' EQUITY	3,778,794		1,568,247
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	6,195,888	$	2,879,543

The accompanying notes are an integral part of these consolidated financial statements.

7

CORE NATURAL RESOURCES, INC.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(Dollars in thousands, except share and per share data)

(Unaudited)

	Common Stock		Capital in Excess of Par Value		Retained Earnings		Accumulated Other Comprehensive (Loss) Income		Total Stockholders' Equity
December 31, 2024	$	294	$	540,412	$	1,162,114	$	(134,573)	$	1,568,247
Net Loss	—		—		(69,277)		—		(69,277)
Actuarially Determined Long-Term Liability Adjustments (Net of ($109) Tax)	—		—		—		378		378
Investments in Available-for-Sale Securities (Net of $72 Tax)	—		—		—		(301)		(301)
Comprehensive (Loss) Income	—		—		(69,277)		77		(69,200)
Issuance of Common Stock	3		(3)		—		—		—
Merger with Arch	243		2,481,125		—		—		2,481,368
Repurchases of Common Stock (1,377,294 Shares)	(14)		(25,296)		(75,949)		—		(101,259)
Employee Stock-Based Compensation	—		36,094		—		—		36,094
Shares Withheld for Taxes	—		(14,068)		—		—		(14,068)
Dividends on Common Shares ($0.10/share)	—		—		(5,364)		—		(5,364)
Dividend Equivalents Earned on Stock-Based Compensation Awards	—		—		(44)		—		(44)
March 31, 2025	$	526	$	3,018,264	$	1,011,480	$	(134,496)	$	3,895,774
Net Loss	—		—		(36,556)		—		(36,556)
Actuarially Determined Long-Term Liability Adjustments (Net of ($109) Tax)	—		—		—		378		378
Investments in Available-for-Sale Securities (Net of ($119) Tax)	—		—		—		464		464
Comprehensive (Loss) Income	—		—		(36,556)		842		(35,714)
Repurchases of Common Stock (1,175,905 Shares)	(11)		(21,597)		(60,285)		—		(81,893)
Excise Tax on Repurchases of Common Stock	—		—		(1,245)		—		(1,245)
Employee Stock-Based Compensation	—		(4,067)		—		—		(4,067)
Dividends on Common Shares ($0.10/share)	—		—		(5,223)		—		(5,223)
Dividend Equivalents Earned on Stock-Based Compensation Awards	—		—		(46)		—		(46)
June 30, 2025	$	515	$	2,992,600	$	908,125	$	(133,654)	$	3,767,586
Net Income	—		—		31,598		—		31,598
Actuarially Determined Long-Term Liability Adjustments (Net of ($109) Tax)	—		—		—		378		378
Investments in Available-for-Sale Securities (Net of ($117) Tax)	—		—		—		406		406
Comprehensive Income	—		—		31,598		784		32,382
Repurchases of Common Stock (270,834 Shares)	(3)		(5,003)		(14,433)		—		(19,439)
Excise Tax on Repurchases of Common Stock	—		—		(523)		—		(523)
Employee Stock-Based Compensation	—		3,916		—		—		3,916
Dividends on Common Shares ($0.10/share)	—		—		(5,128)		—		(5,128)
September 30, 2025	$	512	$	2,991,513	$	919,639	$	(132,870)	$	3,778,794

8

	Common Stock		Capital in Excess of Par Value		Retained Earnings		Accumulated Other Comprehensive (Loss) Income		Total Stockholders' Equity
December 31, 2023	$	299	$	547,861	$	944,342	$	(149,060)	$	1,343,442
Net Income	—		—		101,891		—		101,891
Actuarially Determined Long-Term Liability Adjustments (Net of ($111) Tax)	—		—		—		385		385
Investments in Available-for-Sale Securities (Net of $36 Tax)	—		—		—		(126)		(126)
Comprehensive Income	—		—		101,891		259		102,150
Issuance of Common Stock	1		(1)		—		—		—
Repurchases of Common Stock (615,288 Shares)	(6)		(11,264)		(44,611)		—		(55,881)
Excise Tax on Repurchases of Common Stock	—		—		(471)		—		(471)
Employee Stock-Based Compensation	—		5,118		11		—		5,129
Shares Withheld for Taxes	—		(5,551)		—		—		(5,551)
March 31, 2024	$	294	$	536,163	$	1,001,162	$	(148,801)	$	1,388,818
Net Income	—		—		58,061		—		58,061
Actuarially Determined Long-Term Liability Adjustments (Net of ($110) Tax)	—		—		—		385		385
Investments in Available-for-Sale Securities (Net of $5 Tax)	—		—		—		(17)		(17)
Comprehensive Income	—		—		58,061		368		58,429
Issuance of Common Stock	1		(1)		—		—		—
Repurchases of Common Stock (132,063 Shares)	(1)		(2,407)		(8,589)		—		(10,997)
Excise Tax on Repurchases of Common Stock	—		—		(82)		—		(82)
Employee Stock-Based Compensation	—		2,237		25		—		2,262
Shares Withheld for Taxes	—		(27)		—		—		(27)
June 30, 2024	$	294	$	535,965	$	1,050,577	$	(148,433)	$	1,438,403
Net Income	—		—		95,632		—		95,632
Actuarially Determined Long-Term Liability Adjustments (Net of ($111) Tax)	—		—		—		385		385
Investments in Available-for-Sale Securities (Net of ($69) Tax)	—		—		—		238		238
Comprehensive Income	—		—		95,632		623		96,255
Excise Tax on Repurchases of Common Stock	—		—		2		—		2
Employee Stock-Based Compensation	—		2,051		201		—		2,252
Shares Withheld for Taxes	—		38		—		—		38
Dividends on Common Shares ($0.25/share)	—		—		(7,348)		—		(7,348)
Dividend Equivalents Earned on Stock-Based Compensation Awards	—		—		(107)		—		(107)
September 30, 2024	$	294	$	538,054	$	1,138,957	$	(147,810)	$	1,529,495

The accompanying notes are an integral part of these consolidated financial statements.

9

CORE NATURAL RESOURCES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollars in thousands)

(Unaudited)

	Nine Months Ended September 30,
	2025		2024
Cash Flows from Operating Activities:
Net (Loss) Income	$	(74,235)	$	255,584
Adjustments to Reconcile Net (Loss) Income to Net Cash Provided by Operating Activities:
Depreciation, Depletion and Amortization	441,825		165,173
Gain on Sale of Assets	(6,159)		(6,960)
Stock-Based Compensation	35,943		9,406
Loss on Debt Extinguishment	11,680		—
Deferred Income Taxes	(49,650)		360
Loss from Equity Method Investments	12,841		905
Other Adjustments to Net (Loss) Income	3,294		(276)
Changes in Operating Assets:
Accounts and Notes Receivable	(35,767)		15,420
Inventories	(4,091)		(28,461)
Other Current Assets	(24,360)		1,844
Changes in Other Assets	26,768		(1,479)
Changes in Operating Liabilities:
Accounts Payable	(63,460)		4,298
Other Operating Liabilities	(14,058)		(8,887)
Payments on Asset Retirement Obligations	(25,094)		(21,379)
Changes in Other Liabilities	(37,035)		(30,468)
Net Cash Provided by Operating Activities	198,442		355,080
Cash Flows from Investing Activities:
Capital Expenditures	(203,304)		(137,148)
Proceeds from Sales of Assets	6,514		7,320
Proceeds from Sales of Short-Term Investments	80,165		44,075
Purchases of Short-Term Investments	(4,802)		(43,265)
Net Cash and Restricted Cash Acquired from Merger	368,726		—
Purchase of Arch Tax-Exempt Bonds	(98,225)		—
Investments in DTA	(10,640)		—
Other Investing Activity	(6,834)		(5,682)
Net Cash Provided by (Used in) Investing Activities	131,600		(134,700)
Cash Flows from Financing Activities:
Payments on Finance Lease Obligations	(8,910)		(8,258)
Proceeds from Long-Term Debt	114,439		—
Payments on Other Debt	(12,412)		(905)
Shares Withheld for Taxes	(14,068)		(5,540)
Repurchases of Common Stock	(202,591)		(70,879)
Debt-Related Financing Fees	(20,477)		—
Payments of Excise Tax on Share Repurchases	(934)		—
Dividends and Dividend Equivalents Paid	(21,050)		(8,451)
Net Cash Used in Financing Activities	(166,003)		(94,033)
Net Increase in Cash and Cash Equivalents and Restricted Cash	164,039		126,347
Cash and Cash Equivalents and Restricted Cash at Beginning of Period	447,542		243,268
Cash and Cash Equivalents and Restricted Cash at End of Period	$	611,581	$	369,615
Non-Cash Investing and Financing Activities:
Equipment Financing	$	91,638	$	3,248
Equity Issued as Consideration for Merger	$	2,481,368	$	—

The accompanying notes are an integral part of these consolidated financial statements.

10

CORE NATURAL RESOURCES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 1—BASIS OF PRESENTATION:

Basis of Presentation

The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the U.S. (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2025 are not necessarily indicative of the results that may be expected for future periods.

The Consolidated Balance Sheet at December 31, 2024 has been derived from the Audited Consolidated Financial Statements at that date but does not include all disclosures required by GAAP. This Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

All dollar amounts discussed in these Notes to Consolidated Financial Statements are in thousands of U.S. dollars, except for share and per share amounts, and unless otherwise indicated.

Basis of Consolidation

The Consolidated Financial Statements include the accounts of Core Natural Resources, Inc. and its wholly-owned and majority-owned and/or controlled subsidiaries (including Arch) as of September 30, 2025. All intercompany transactions and accounts have been eliminated in consolidation. Upon closing of the Merger with Arch (see Note 2 - Merger with Arch), the Company acquired a 35% interest in the Dominion Terminal, a ground storage-to-vessel coal transloading facility in Newport News, Virginia operated by DTA. The Company has the ability to exercise significant influence, but not control, over DTA and accordingly, the investment in DTA is accounted for under the equity method.

Recent Accounting Pronouncements

In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-05, Financial Instruments—Credit Losses (Topic 326)—Measurement of Credit Losses for Accounts Receivable and Contract Assets. This update aims to address challenges encountered when applying the guidance in Topic 326, Financial Instruments—Credit Losses. This update introduces a practical expedient for all entities. In developing reasonable and supportable forecasts as part of estimating expected credit losses, all entities may elect a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. An entity that elects the practical expedient should apply the amendments in this update prospectively. The amendments will be effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance. Management is currently evaluating the impact of this guidance but does not expect this update to have a material impact on the Company's financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). The amendments in this update aim to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The amendments in this update require that public business entities, at each interim period and on an annual basis: (1) disclose the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) depreciation, depletion and amortization recognized as part of oil- and gas-producing activities (or other amounts of depletion expense) included in each relevant expense caption; (2) include certain amounts that are already required to be disclosed under current GAAP; (3) disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively; and (4) disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The amendments in this update are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. These amendments may be applied either prospectively or retrospectively. Management is currently evaluating the impact of this guidance but, with the exception of the increased disclosures summarized above, does not expect this update to have a material impact on the Company's financial statements.

11

Earnings (Loss) per Share

Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted-average number of shares outstanding during the reporting period. Diluted earnings (loss) per share are computed similarly to basic earnings (loss) per share, except that the weighted-average number of shares outstanding is increased to include additional shares from restricted stock units and performance share units, if dilutive. The number of additional shares is calculated by assuming that outstanding restricted stock units and performance share units were released, and that the proceeds from such activities, as applicable, were used to acquire shares of common stock at the average market price during the reporting period.

The table below sets forth the share-based awards that have been excluded from the computation of diluted earnings (loss) per share because their effect would be anti-dilutive:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Anti-Dilutive Restricted Stock Units	51,586	377	81,218	458
Anti-Dilutive Performance Share Units	—	—	41,250	—
	51,586	377	122,468	458

The computations for basic and diluted earnings (loss) per share are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Numerator:
Net Income (Loss)	$	31,598	$	95,632	$	(74,235)	$	255,584
Denominator:
Weighted-average shares of common stock outstanding	51,577,732		29,580,649		51,460,427		29,705,627
Effect of dilutive shares	26,749		121,406		—		118,962
Weighted-average diluted shares of common stock outstanding	51,604,481		29,702,055		51,460,427		29,824,589
Earnings (Loss) per Share:
Basic	$	0.61	$	3.23	$	(1.44)	$	8.60
Diluted	$	0.61	$	3.22	$	(1.44)	$	8.57

As of September 30, 2025, the Company had 500,000 shares of preferred stock authorized, none of which were issued or outstanding.

Reclassifications

Certain amounts in prior periods have been reclassified to conform with the report classifications of the current period. These reclassifications had no effect on previously reported total net income (loss), assets, stockholders' equity or cash flows from operating activities, nor do they affect key metrics used by the Company's chief operating decision maker (“CODM”) to evaluate performance.

NOTE 2—MERGER WITH ARCH:

On January 14, 2025, Core completed its previously announced merger of equals transaction with Arch, pursuant to the Merger Agreement. Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into Arch, with Arch continuing as the surviving corporation and as a wholly-owned subsidiary of the Company. In connection with the Merger, the Company issued 24.3 million shares of its common stock, which represents approximately 45% of the issued and outstanding shares of Company common stock after giving effect to such issuance. Based upon the closing price of the Company's common stock on January 13, 2025, the equity portion of the purchase consideration was $2,481,368.

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Prior to the closing of the Merger, on January 13, 2025, the Company purchased an aggregate principal amount of $98,075 of the outstanding (i) Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2020, and (ii) Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2021 (together, the “Arch Bonds”), which were issued by the West Virginia Economic Development Authority for the benefit of Arch (the “Arch Bond Purchase”). The Company also consented to the release of all liens, mortgages and security interests granted or purported to be granted pursuant to the security documents relating to the Arch Bonds and to the termination of all such security documents. The $98,075 of Arch Bonds purchased by the Company constituted all of the outstanding Arch Bonds. Upon the closing of the Merger, the pre-existing contractual relationship between the Company and Arch resulting from the Arch Bond Purchase became an intercompany relationship on a consolidated basis and, as such, was effectively settled on January 14, 2025. As such, total consideration transferred includes the effect of the Arch Bond Purchase and assumed liabilities excludes the obligations that were effectively settled. The settlement of this pre-existing relationship between the Company and Arch did not result in any material gain or loss. The Arch Bonds were successfully remarketed and reissued on March 27, 2025 to third-party investors (as remarketed and reissued, the “Series 2025 Bonds”). See Note 13 - Long-Term Debt for additional information.

The Merger joined two proven leadership teams and operating platforms to establish Core, a premier North American coal producer and exporter of high-quality, low-cost coals with offerings ranging from metallurgical to high calorific value and other thermal coals. With mining operations and terminal facilities across six states, Core owns 11 mines, including one of the largest, lowest cost and highest calorific value thermal coal mining complexes in North America and one of the largest, lowest cost and highest quality metallurgical coal mine portfolios in the U.S. Core also has access to global markets via ownership interests in two export terminals on the U.S. Eastern seaboard, along with strategic connectivity to ports on the West Coast and Gulf of America.

The Company applied the acquisition method of accounting in accordance with Accounting Standards Codification 805, Business Combinations, and recognized assets acquired and liabilities assumed at their estimated fair value as of the closing date of the Merger. As the Company finalizes the estimation of the fair values of the assets acquired and liabilities assumed, the preliminary purchase price allocation is subject to further refinement and may require significant adjustments to arrive at the final purchase price allocation. The below fair values of assets acquired and liabilities assumed are based on the information that was available as of the reporting date. The Company will continue to obtain information to assist in finalizing the fair values of assets acquired and liabilities assumed, which may differ materially from these preliminary estimates. The final purchase price allocation may include changes in allocations to mineral reserves, real and personal property, asset retirement obligations and other changes to assets and liabilities. The Company expects to complete the purchase price allocation once it has received all necessary information, at which time the value of the assets acquired and liabilities assumed will be revised if necessary. Adjustments to the purchase price allocation made during the nine months ended September 30, 2025 did not have a material impact on the Company's financial results.

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The following table presents the preliminary allocation of the aggregate purchase price based on estimated fair values:

	Preliminary Purchase Price Allocation
Total Equity Portion of Purchase Price Consideration	$	2,481,368
Effective Settlement of Pre-Existing Relationships	95,636
Total Consideration Transferred	$	2,577,004
Assets Acquired:
Cash and Cash Equivalents	$	217,593
Short-Term Investments	22,969
Trade Receivables, net	161,670
Other Receivables, net	6,629
Inventories	307,175
Other Current Assets	13,366
Property, Plant and Equipment, net	2,604,625
Funds for Asset Retirement Obligations	150,033
Other Noncurrent Assets, net	155,763
Total Assets Acquired	3,639,823
Liabilities Assumed:
Accounts Payable	211,227
Current Portion of Long-Term Debt	4,104
Other Accrued Liabilities	154,651
Long-Term Debt	6,667
Postretirement Benefits Other Than Pensions	37,118
Pneumoconiosis Benefits	111,313
Asset Retirement Obligations	248,773
Workers’ Compensation	36,254
Salary Retirement	786
Deferred Income Taxes	158,471
Other Noncurrent Liabilities	93,455
Total Liabilities Assumed	1,062,819
Net Assets Acquired	$	2,577,004

The fair value and gross contractual amount of receivables acquired was $168,299. The Company expects to collect the entire contractual amount.

The fair value of acquired property, plant and equipment, which primarily includes mineral reserves and real and personal property, was measured using a combination of cost and income approaches based on inputs that are not observable in the market and, as such, are Level 3 fair value measurements. Significant inputs used in the income approach included estimates of forecasted cash flows, which are impacted by the forecasted market price of coal as well as the expected timing of significant capital expenditures, among others. Significant inputs used in the cost approach included, but were not limited to, the replacement costs for similar assets, relative age of the assets, and any potential economic or functional obsolescence associated with the assets. The preliminary application of purchase accounting resulted in fair value adjustments of approximately $1.4 billion.

As part of the preliminary purchase price allocation, the Company identified certain intangible assets and liabilities related to contracts for which the contractual terms were preliminarily identified as being favorable or unfavorable in relation to current market terms. The estimated fair values of the identified intangible assets and liabilities were approximately $84 million and $37 million, which were included in Other Noncurrent Assets, net and Other Noncurrent

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Liabilities, respectively, on the Consolidated Balance Sheet at September 30, 2025. The estimated fair values of the identified intangible assets and liabilities were determined using the income approach based on inputs that are not observable in the market and, as such, is a Level 3 fair value measurement. Significant inputs to the valuation of the identified intangible assets and liabilities included future revenue estimates, future cost assumptions, estimated contract renewals, a discount rate assumption and an estimated required rate of return on the assets, among others. The identified intangible assets and liabilities are amortized over each contractual term, which ranges from one to five years, or a weighted-average period of 1.6 years, which reflects the pattern in which the Company expects to consume the economic benefits of the net assets. Amortization expense was approximately $8 million and $23 million for the three and nine months ended September 30, 2025. The Company expects to recognize amortization expense of approximately 66% of the total contract value in 2025, 16% in 2026, 16% in 2027 and the remaining 2% in 2028 and 2029.

The Consolidated Statement of Income (Loss) for the nine months ended September 30, 2025 includes Revenues of $1,531,951 and a Loss Before Income Tax of $274,610 attributable to Arch since the closing of the Merger on January 14, 2025.

The table below summarizes the Company's results as though the Merger had been consummated on January 1, 2024:

	Three Months Ended September 30, 2024		Nine Months Ended September 30,
			2025		2024
Revenues (a)	$	1,172,016	$	3,173,017	$	3,499,093
Net Income (Loss) (a)	$	69,680	$	(52,109)	$	125,877

(a) Pro forma information has not been provided for the three months ended September 30, 2025 since Arch was fully consolidated for the entire period. Pro forma information for the nine months ended September 30, 2025 includes Arch's historical results for the January 1, 2025 through January 13, 2025 period prior to the Merger excluding Merger-related costs.

The unaudited pro forma information is based on historical information and is adjusted for depreciation, depletion and amortization related to the fair value adjustments of property, plant and equipment and intangible assets (as discussed above), assuming the fair value adjustments had been applied from January 1, 2024.

The unaudited pro forma financial information for the nine months ended September 30, 2024 also includes $135,022 of non-recurring pro forma adjustments (before tax) directly attributable to the Merger, which are comprised primarily of $92,698 of transaction and employee-related costs incurred by Arch and the Company prior to the closing of the Merger and $39,765 of Merger-related costs incurred subsequent to the closing of the Merger and $2,559 of non-recurring expense related to the fair value adjustment to inventory. The Merger-related costs and non-recurring expense related to the fair value adjustment to inventory incurred subsequent to the closing of the Merger are included in General and Administrative Costs and Cost of Sales, respectively, in the accompanying Consolidated Statement of Income (Loss) for the nine months ended September 30, 2025, but, for the purpose of presenting the unaudited pro forma financial information above, have been removed from the 2025 period and included in the nine months ended September 30, 2024 to give effect to the Merger as if it closed on January 1, 2024. Pro forma adjustments were tax-effected at the statutory tax rate of 21% for purposes of calculating net income (loss) in the table above.

The pro forma information does not include any anticipated cost savings or other effects of the Merger. Accordingly, the unaudited pro forma information does not necessarily reflect the actual results that would have occurred, nor is it necessarily indicative of future results of operations.

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NOTE 3—REVENUE FROM CONTRACTS WITH CUSTOMERS:

The following tables disaggregate the Company's revenue from contracts with customers by product type and market:

	Three Months Ended September 30, 2025
	Domestic		Export		Total
Power Generation	$	398,529	$	84,774	$	483,303
Industrial	32,324		178,409		210,733
Metallurgical	47,577		252,168		299,745
Total Coal Revenue	478,430		515,351		993,781
Third-Party Terminal Revenue					5,591
Other Revenue					3,171
Total Revenue from Contracts with Customers					$	1,002,543

	Three Months Ended September 30, 2024
	Domestic		Export		Total
Power Generation	$	163,769	$	74,337	$	238,106
Industrial	2,485		195,656		198,141
Metallurgical	8,200		97,698		105,898
Total Coal Revenue	174,454		367,691		542,145
Third-Party Terminal Revenue					7,490
Other Revenue					3,797
Total Revenue from Contracts with Customers					$	553,432

	Nine Months Ended September 30, 2025
	Domestic		Export		Total
Power Generation	$	1,154,972	$	238,671	$	1,393,643
Industrial	98,494		587,849		686,343
Metallurgical	115,135		901,281		1,016,416
Total Coal Revenue	1,368,601		1,727,801		3,096,402
Third-Party Terminal Revenue					15,087
Other Revenue					10,821
Total Revenue from Contracts with Customers					$	3,122,310

	Nine Months Ended September 30, 2024
	Domestic		Export		Total
Power Generation	$	515,159	$	186,118	$	701,277
Industrial	13,636		571,454		585,090
Metallurgical	31,222		238,636		269,858
Total Coal Revenue	560,017		996,208		1,556,225
Third-Party Terminal Revenue					22,689
Other Revenue					11,927
Total Revenue from Contracts with Customers					$	1,590,841

Coal Revenue

The Company has disaggregated its coal revenue between domestic and export revenues, as well as between the industrial, power generation and metallurgical markets. Domestic coal revenue tends to be derived from contracts that typically have a term of one year or longer, and the pricing is typically fixed. Historically, export coal revenue tended to be

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derived from spot or shorter-term contracts with pricing determined closer to the time of shipment or based on a market index; however, the Company has secured several long-term export contracts with varying pricing arrangements.

The Company's coal revenue is recognized when the performance obligation has been satisfied and the corresponding transaction price has been determined. Generally, title passes when coal is loaded at the coal preparation facilities, at terminal locations or other customer destinations. The Company's coal contract revenue per ton is fixed or determinable based upon either fixed forward pricing or pricing derived from established indices and adjusted for nominal quality characteristics. Some coal contracts also contain positive electric power price-related adjustments, which represent market-driven price adjustments, in addition to a fixed base price per ton. The Company’s coal contracts generally do not allow for retroactive adjustments to pricing after title to the coal has passed and do not have significant financing components.

The estimated transaction price from each of the Company's contracts is based on the total amount of consideration to which the Company expects to be entitled under the contract. Included in the transaction price for certain coal supply contracts is the impact of variable consideration, including quality price adjustments, handling services and per ton price fluctuations based on certain coal sales price indices. The estimated transaction price for each contract is allocated to the Company's performance obligations based on relative stand-alone selling prices determined at contract inception. The Company has determined that each ton of coal represents a separate and distinct performance obligation.

While the Company does, from time to time, experience costs of obtaining coal customer contracts with amortization periods greater than one year, those costs are generally immaterial. At September 30, 2025 and December 31, 2024, the Company did not have any capitalized costs to obtain customer contracts on its Consolidated Balance Sheets. As of and for the three and nine months ended September 30, 2025 and 2024, the Company has not recognized any amortization of previously existing capitalized costs of obtaining customer contracts. Further, the Company has not recognized any coal revenue in the current period that is not a result of current period performance.

Terminal Revenue

Terminal revenues are attributable to the Company's Baltimore Marine Terminal and include revenues earned from providing receipt and unloading of coal from rail cars, transporting coal from the receipt point to temporary storage or stockpile facilities located at the terminal, stockpiling, blending, weighing, sampling, redelivery and loading of coal onto vessels. Revenues for these services are earned and performance obligations are considered fulfilled as the services are performed.

The Baltimore Marine Terminal does not normally experience material costs of obtaining customer contracts with amortization periods greater than one year. At September 30, 2025 and December 31, 2024, the Company did not have any capitalized costs to obtain customer contracts on its Consolidated Balance Sheets. As of and for the three and nine months ended September 30, 2025 and 2024, the Company has not recognized any amortization of previously existing capitalized costs of obtaining terminal customer contracts. Further, the Company has not recognized any terminal revenue in the current period that is not a result of current period performance.

Other Revenue

Other revenue consists of revenue generated from carbon products and materials businesses led by CONSOL Innovations LLC, our wholly-owned subsidiary. This revenue is primarily comprised of sales of carbon-based tools, parts and materials that are used in the aerospace and other industries. Revenues for these products are earned and recognized as the tools are built and progress toward product completion. Additionally, other revenue consists of revenue generated from the processing of third-party coal at various mining complexes. Revenues for these services are earned and performance obligations are considered fulfilled as the services are performed.

Contract Balances

Contract assets, when present, are recorded separately from trade receivables in the Company's Consolidated Balance Sheets and are reclassified to trade receivables as title passes to the customer and the Company's right to consideration becomes unconditional. Credit is extended based on an evaluation of a customer's financial condition, a customer's ability to perform its obligations and other relevant factors. The Company typically does not have material contract assets that are stated separately from trade receivables since the Company's performance obligations are satisfied as control of the goods or services passes to the customer, thereby granting the Company an unconditional right to receive consideration. Contract liabilities relate to consideration received in advance of the satisfaction of the Company's performance obligations. Contract liabilities are recognized as revenue at the point in time when control of the goods passes to the customer, or over time when services are provided.

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NOTE 4—COMPONENTS OF PENSION AND OTHER POST-EMPLOYMENT BENEFIT (OPEB) PLANS NET PERIODIC BENEFIT COSTS:

The components of Net Periodic Benefit Cost were as follows:

	Pension Benefits								OPEB
	Three Months Ended September 30,				Nine Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024		2025		2024		2025		2024
Service Cost	$	275	$	302	$	825	$	906	$	38	$	—	$	108	$	—
Interest Cost	6,343		6,431		19,028		19,293		2,992		2,758		8,884		8,274
Expected Return on Plan Assets	(7,565)		(7,991)		(22,695)		(23,973)		—		—		—		—
Amortization of Prior Service Credits	—		—		—		—		(601)		(601)		(1,803)		(1,804)
Amortization of Actuarial Loss (Gain)	2,159		1,567		6,475		4,699		(683)		(70)		(2,052)		(209)
Net Periodic Benefit Cost	$	1,212	$	309	$	3,633	$	925	$	1,746	$	2,087	$	5,137	$	6,261

Service costs related to pension and other post-employment benefits are reflected in Cost of Sales in the Consolidated Statements of Income (Loss). All other expenses related to pension and other post-employment benefits are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Consolidated Statements of Income (Loss). Amounts reclassified out of accumulated other comprehensive (loss) income are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Consolidated Statements of Income (Loss).

NOTE 5—COMPONENTS OF COAL WORKERS’ PNEUMOCONIOSIS (CWP) AND WORKERS’ COMPENSATION NET PERIODIC BENEFIT COSTS:

The components of Net Periodic Benefit Cost were as follows:

	CWP								Workers' Compensation
	Three Months Ended September 30,				Nine Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024		2025		2024		2025		2024
Service Cost	$	2,003	$	746	$	5,809	$	2,239	$	1,728	$	1,465	$	5,184	$	4,393
Interest Cost	3,687		2,066		10,776		6,198		555		572		1,665		1,717
Amortization of Actuarial Loss (Gain)	42		109		127		326		(460)		(540)		(1,380)		(1,620)
Fees, Premiums and Assessments	—		—		—		—		2,273		464		6,383		1,393
Net Periodic Benefit Cost	$	5,732	$	2,921	$	16,712	$	8,763	$	4,096	$	1,961	$	11,852	$	5,883

Service costs and fees, premiums and assessments related to CWP and workers’ compensation are reflected in Cost of Sales in the Consolidated Statements of Income (Loss). All other expenses related to CWP and workers’ compensation are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Consolidated Statements of Income (Loss). Amounts reclassified out of accumulated other comprehensive (loss) income are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Consolidated Statements of Income (Loss).

NOTE 6—INCOME TAXES:

The Company recorded its provision for income taxes for the three and nine months ended September 30, 2025 of ($52,998) and ($50,098), respectively, or 247.7% and 40.3%, respectively, of loss before income tax based on its annual estimated income tax rate adjusted for discrete items. The effective tax rate for the three months ended September 30, 2025 differed from the U.S. federal statutory rate of 21% primarily due to a change in the Company’s annual estimated income tax rate and a tax benefit for excess percentage depletion. The effective tax rate for the nine months ended September 30, 2025 differed from the U.S. federal statutory rate of 21% primarily due to a tax benefit for excess percentage depletion.

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The tax provision for the nine months ended September 30, 2025 also included discrete tax adjustments primarily related to transaction costs and equity compensation.

The provision for income taxes for the three and nine months ended September 30, 2024 of $17,539 and $43,409, respectively, or 15.5% and 14.5%, respectively, of earnings before income tax was based on the Company's annual estimated income tax rate adjusted for discrete items. The effective tax rate for the three and nine months ended September 30, 2024 differed from the U.S. federal statutory rate of 21% primarily due to the tax benefit for excess percentage depletion and foreign derived intangible income. The tax provision also included discrete tax adjustments related to equity compensation and changes to uncertain tax positions.

NOTE 7—CASH AND CASH EQUIVALENTS, RESTRICTED CASH AND SHORT-TERM INVESTMENTS:

The following table disaggregates the Company's cash, cash equivalents and restricted cash, which reconciles to the total shown on the Consolidated Statements of Cash Flows:

	September 30,
	2025		2024
Cash and Cash Equivalents	$	444,672	$	331,674
Restricted Cash - Current (a)	42,036		37,941
Restricted Cash - Noncurrent (a)	124,873		—
Cash and Cash Equivalents and Restricted Cash	$	611,581	$	369,615

(a) Restricted Cash - Current and Restricted Cash - Noncurrent are included in Other Current Assets and Funds for Asset Retirement Obligations, respectively, in the accompanying Consolidated Balance Sheets.

The components of cash and cash equivalents and restricted cash as of December 31, 2024 and 2023 are disclosed in Note 6 in the Notes to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 20, 2025.

The Company had invested in marketable debt securities, primarily comprised of highly liquid U.S. Treasury securities. These investments were held in the custody of financial institutions. The securities outstanding were classified as available-for-sale securities, matured within twelve months of the acquisition date and were classified as current assets accordingly. During the first quarter of 2025, the Company liquidated its remaining investments in U.S. Treasury securities.

The Company's investments in available-for-sale securities were as follows:

	December 31, 2024
					Gross Unrealized
	Amortized Cost		Allowance for Credit Losses		Gains		Losses		Fair Value
U.S. Treasury Securities	$	51,885	$	—	$	120	$	(12)	$	51,993

Available-for-sale investments are reported at fair value in the accompanying Consolidated Balance Sheet and any unrealized gains or losses are recognized in Accumulated Other Comprehensive Loss. Any unrealized gains or losses in the Company's portfolio are a result of normal market fluctuations. Interest and dividends are included in net income (loss) when earned.

NOTE 8—CREDIT LOSSES:

Trade receivables are recorded at the invoiced amount. Credit is extended based on an evaluation of a customer's financial condition, a customer's ability to perform its obligations and other relevant factors. Trade receivable balances are monitored against approved credit terms. Credit terms are reviewed and adjusted as considered necessary based on changes to a customer's credit profile. If a customer's credit deteriorates, the Company may reduce credit risk exposure by reducing credit terms, obtaining letters of credit, obtaining credit insurance or requiring pre-payment for shipments. Other non-trade contractual arrangements consist primarily of overriding royalty agreements and other financial arrangements between the Company and various counterparties.

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The Company may be at risk of exposure to credit losses primarily through sales of products and services. The Company's expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade and other accounts receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on an aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts may be necessary from time to time and are established to record the appropriate provision for customers that have a higher probability of default. The Company's monitoring activities include timely account reconciliations, dispute resolution, payment confirmation and consideration of macroeconomic conditions and customers' financial conditions. Balances are written off when deemed uncollectible.

Management estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for changes to the assessment of anticipated payment, changes in economic conditions, current industry trends in the markets the Company serves and changes in the financial health of the Company's counterparties.

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable and other non-trade contractual arrangements to present the net amount expected to be collected:

	Trade Receivables		Other Non-Trade Contractual Arrangements
Beginning Balance, December 31, 2024	$	1,265	$	7,625
Provision for Expected Credit Losses	(729)		(77)
Ending Balance, September 30, 2025	$	536	$	7,548

NOTE 9—INVENTORIES:

Inventory components consisted of the following:

	September 30, 2025		December 31, 2024
Coal	$	162,468	$	17,480
Supplies	245,032		78,721
Total Inventories	$	407,500	$	96,201

Inventories are stated at the lower of cost or net realizable value. The cost of coal inventories is determined by the first-in, first-out method. Coal inventory costs include labor, supplies, equipment costs, operating overhead, depreciation, depletion, amortization and other related costs. The cost of supplies inventory is determined by the average cost method and includes operating and maintenance supplies to be used in the Company's coal operations.

NOTE 10—ACCOUNTS RECEIVABLE SECURITIZATION:

At September 30, 2025, certain U.S. subsidiaries of Core Natural Resources, Inc. were parties to a trade accounts receivable securitization facility with financial institutions for the sale on a continuous basis of eligible trade accounts receivable. On July 28, 2025, the Company and certain of its subsidiaries entered into (i) that certain Receivables Financing Agreement (the “Receivables Financing Agreement”), by and among Core Receivable Company, LLC, as borrower (the “Borrower”), Core Sales, LLC, as the initial servicer (the “Servicer”), PNC Bank, National Association (“PNC”), as administrative agent and LC bank, PNC Capital Markets LLC (“PNC CM”), as structuring agent, and the lenders from time to time party thereto; (ii) that certain Third Amended and Restated Sale and Contribution Agreement (the “Sale and Contribution Agreement”), by and among the Borrower, the Servicer and Arch, as transferor; (iii) that certain Third Amended and Restated Purchase and Sale Agreement (the “Purchase and Sale Agreement”), by and among Arch, the Servicer and the originators party thereto; and (iv) that certain Fifth Amended and Restated Performance Guaranty (the “Performance Guaranty” and, together with the Receivables Financing Agreement, the Sale and Contribution Agreement

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and the Purchase and Sale Agreement, the “Receivables Documents”). With entry into the Receivables Documents, legacy Arch’s securitization facility was amended and restated in its entirety to, among other things, consolidate facilities and extend the maturity date to July 27, 2028, and legacy CONSOL’s securitization facility was terminated effective July 28, 2025.

Pursuant to the Receivables Financing Agreement, Core Sales, LLC; Mingo Logan Coal LLC; Mountain Coal Company, L.L.C.; ICG Beckley, LLC; ICG Tygart Valley, LLC; Wolf Run Mining LLC; Thunder Basin Coal Company, L.L.C.; CONSOL Pennsylvania Coal Company LLC; CONSOL Marine Terminals LLC; and Itmann Mining Company LP, all wholly-owned subsidiaries of the Company, sell and/or contribute trade receivables to Core Receivable Company, LLC, a special purpose vehicle and wholly-owned subsidiary of the Company (“Core Receivable,” and together with the special purpose vehicle associated with legacy CONSOL’s securitization facility, the “SPVs”). Core Receivable, in turn, pledges its interests in the receivables to PNC and/or Regions Bank, which either make loans or issue letters of credit on behalf of Core Receivable. The maximum amount of advances and letters of credit outstanding under the Receivables Financing Agreement may not exceed $250 million.

Loans under the Receivables Financing Agreement accrue interest at a reserve-adjusted market index rate equal to the applicable term Secured Overnight Financing Rate (“SOFR”) rate plus ten basis points. Loans and letters of credit under the Receivables Financing Agreement also accrue a drawn fee and a letter of credit participation fee, respectively, of 2.00% per annum. In connection with the Receivables Financing Agreement, the Borrower paid certain structuring fees to PNC CM and pays other customary fees to the lenders, including a fee on unused commitments equal to 0.60% per annum.

At September 30, 2025, the Company's eligible accounts receivable yielded $220,559 of borrowing capacity. At September 30, 2025, the facility had no outstanding borrowings and $191,125 of letters of credit outstanding, leaving an available borrowing capacity of $29,434. At December 31, 2024, the Company's eligible accounts receivable yielded $71,964 of borrowing capacity. At December 31, 2024, legacy CONSOL’s securitization facility had no outstanding borrowings and $71,922 of letters of credit outstanding, leaving an available borrowing capacity of $42. The Company has not derecognized any receivables due to its continued involvement in the collections efforts.

NOTE 11—PROPERTY, PLANT AND EQUIPMENT:

Property, plant and equipment consisted of the following:

	September 30, 2025		December 31, 2024
Plant and Equipment	$	4,774,817	$	3,633,741
Coal Properties and Surface Lands	2,225,310		913,819
Airshafts	592,493		521,334
Mine Development	673,946		366,260
Advance Mining Royalties	337,248		328,927
Total Property, Plant and Equipment	8,603,814		5,764,081
Less: Accumulated Depreciation, Depletion and Amortization	4,213,432		3,842,382
Total Property, Plant and Equipment - Net	$	4,390,382	$	1,921,699

As of September 30, 2025 and December 31, 2024, property, plant and equipment included gross assets under finance leases of $50,169 and $40,804, respectively. Accumulated amortization for finance leases was $16,981 and $16,929 at September 30, 2025 and December 31, 2024, respectively. Amortization expense for assets under finance leases approximated $3,358 and $2,110 for the three months ended September 30, 2025 and 2024, respectively, and $9,315 and $7,652 for the nine months ended September 30, 2025 and 2024, respectively, and is included in Depreciation, Depletion and Amortization in the accompanying Consolidated Statements of Income (Loss).

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NOTE 12—OTHER ACCRUED LIABILITIES:

Other accrued liabilities consisted of the following:

	September 30, 2025		December 31, 2024
Subsidence Liability	$	118,191	$	88,259
Accrued Compensation and Benefits	57,563		54,138
Accrued Other Taxes	50,759		6,973
Other	67,594		31,928
Current Portion of Long-Term Liabilities:
Asset Retirement Obligations	41,496		35,554
Pneumoconiosis Benefits	25,259		16,389
Postretirement Benefits Other than Pensions	21,422		17,887
Workers' Compensation	17,360		11,056
Total Other Accrued Liabilities	$	399,644	$	262,184

NOTE 13—LONG-TERM DEBT:

Long-term debt consisted of the following:

	September 30, 2025		December 31, 2024
WVEDA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45%	$	106,355	$	—
MEDCO Port Facilities Refunding Revenue Bonds due March 2035 at 5.00% and 5.75% at September 30, 2025 and December 31, 2024, respectively	102,865		102,865
PEDFA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45% and 9.00% at September 30, 2025 and December 31, 2024, respectively	97,560		75,000
Equipment Financing (7.56% Weighted-Average Interest Rate)	73,010		—
Advance Royalty Commitments (8.10% Weighted-Average Interest Rate)	6,148		6,148
Other Debt Arrangements	5,071		664
Less: Unamortized Debt Issuance Costs	(6,716)		(1,213)
	384,293		183,464
Less: Amounts Due in One Year (a)	(71,072)		(103,940)
Long-Term Debt	$	313,221	$	79,524

(a) Excludes current portion of Finance Lease Obligations of $12,724 and $8,925 at September 30, 2025 and December 31, 2024, respectively.

Revolving Credit Facility

In November 2017, the Company entered into a revolving credit facility with PNC (the “Revolving Credit Facility”). The Revolving Credit Facility has been amended several times, the most recent of which occurred in January 2025 in connection with the Merger. This amendment increased the available revolving commitments from $355 million to $600 million while extending the scheduled maturity date to April 30, 2029. Additionally, the Company reduced the applicable interest margin on its borrowings and letters of credit under the Revolving Credit Facility by 75 basis points.

Borrowings under the Revolving Credit Facility bear interest at a floating rate that is, at the Company's option, either (i) SOFR plus a SOFR adjustment of 0.10% plus an applicable margin or (ii) an alternate base rate plus an applicable margin. The applicable margin for the Revolving Credit Facility depends on the Company's total net leverage ratio and this rate resets quarterly. Obligations under the Revolving Credit Facility are guaranteed by (i) all owners of the PAMC held by the Company and (ii) subject to certain customary exceptions and agreed materiality thresholds, all other existing or future direct or indirect wholly-owned restricted subsidiaries of the Company, including significant subsidiaries acquired pursuant to the Merger. The obligations are secured by, subject to certain exceptions (including a limitation of pledges of equity

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interests in certain subsidiaries and certain thresholds with respect to real property), a first-priority lien on the Company's and certain subsidiaries' significant assets.

The Revolving Credit Facility contains a number of customary affirmative covenants and a number of negative covenants, including (subject to certain exceptions) limitations on (among other things): indebtedness, liens, investments, acquisitions, dispositions, restricted payments and prepayments of junior indebtedness. The Revolving Credit Facility also includes covenants relating to (i) a maximum first lien gross leverage ratio, (ii) a maximum total net leverage ratio, and (iii) a minimum interest coverage ratio. The maximum first lien gross leverage ratio is calculated as the ratio of Consolidated First Lien Debt to Consolidated EBITDA. Consolidated EBITDA, as used in the covenant calculation, excludes non-cash compensation expenses, non-recurring transaction expenses, extraordinary gains and losses, gains and losses on discontinued operations and gains and losses on debt extinguishment. The maximum total net leverage ratio is calculated as the ratio of Consolidated Indebtedness, minus Cash on Hand, to Consolidated EBITDA. The minimum interest coverage ratio is calculated as the ratio of Consolidated EBITDA to Consolidated Cash Interest Expense. Consolidated Cash Interest Expense, as used in the covenant calculation, includes cash interest payments, net of any cash interest income. Under the Revolving Credit Facility, the maximum first lien gross leverage ratio shall be 1.50 to 1.00, the maximum total net leverage ratio shall be 2.50 to 1.00 and the minimum interest coverage ratio shall be 3.00 to 1.00.

The Company's first lien gross leverage ratio was 0.18 to 1.00 at September 30, 2025. The Company's total net leverage ratio was (0.04) to 1.00 at September 30, 2025. The Company's interest coverage ratio was 50.13 to 1.00 at September 30, 2025. The Company was in compliance with all covenants under the Revolving Credit Facility as of September 30, 2025.

At September 30, 2025, the Revolving Credit Facility had no borrowings outstanding and $78,663 of letters of credit outstanding, leaving $521,337 of unused capacity. At December 31, 2024, the Revolving Credit Facility had no borrowings outstanding and $107,087 of letters of credit outstanding, leaving $247,913 of unused capacity. From time to time, the Company is required to post financial assurances to satisfy contractual and other requirements generated in the normal course of business. Some of these assurances are posted to comply with federal, state or other government agencies' statutes and regulations. The Company sometimes uses letters of credit to satisfy these requirements, and these letters of credit reduce the Company's borrowing facility capacity.

The SPVs are not guarantors of the Revolving Credit Facility, and the SPVs either hold the assets pledged to the lenders or sell the assets to the lenders in the securitization facility. The SPVs had total assets of $326,734 and $133,853, comprised mainly of $325,591 and $133,694 trade receivables, net, at September 30, 2025 and December 31, 2024, respectively. Net income attributable to the SPVs was $3,776 and $528 for the three months ended September 30, 2025 and 2024, respectively, and $8,408 and $775 for the nine months ended September 30, 2025 and 2024, respectively, which was primarily attributable to intercompany fees paid to purchase the receivables, which have been eliminated in the Consolidated Financial Statements contained within this Quarterly Report on Form 10-Q. During the nine months ended September 30, 2025, there were no borrowings or payments under the accounts receivable securitization facilities. During the nine months ended September 30, 2024, there were no borrowings or payments under legacy CONSOL’s securitization facility. See Note 10 - Accounts Receivable Securitization for additional information.

Series 2025 Bonds

In connection with the Merger, on January 13, 2025, the Company purchased the Arch Bonds. The Company also consented to the release of all liens, mortgages and security interests granted or purported to be granted pursuant to the security documents relating to the Arch Bonds and to the termination of all such security documents. The $98,075 of Arch Bonds purchased by the Company constituted all of the outstanding Arch Bonds.

On March 27, 2025, the Company borrowed the proceeds of tax-exempt bonds issued by (i) the Pennsylvania Economic Development Financing Authority (“PEDFA”) in the aggregate principal amount of $97,560 (the “PEDFA Bonds”), at a fixed rate of 5.45% for an initial term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among Jefferies LLC, as the representative acting on behalf of itself, KeyBanc Capital Markets Inc., PNC CM, Goldman Sachs & Co. LLC, B. Riley Securities, Inc. and TCBI Securities, Inc. (collectively, the “Underwriters”), PEDFA and the Company; (ii) the Maryland Economic Development Corporation (“MEDCO”) in the aggregate principal amount of $102,865 (the “MEDCO Bonds”), at a fixed rate of 5.00% for an initial term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among the Underwriters, MEDCO and the Company; and (iii) the West Virginia Economic Development Authority (“WVEDA”) in the aggregate principal amount of $106,355 (the “WVEDA Bonds” and together with the PEDFA Bonds and the MEDCO Bonds, the “Bonds”), at a fixed rate of 5.45% for an initial term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among the Underwriters, WVEDA and the Company.

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The Company used (i) a portion of the proceeds of the PEDFA Bonds to finance and refinance the costs of acquisition, construction, improvement, installation and equipping of certain solid waste disposal facilities located at the Central Preparation Plant in West Finley, Pennsylvania in part by refunding in full PEDFA’s outstanding $75,000 Solid Waste Disposal Revenue Bonds, Series 2021A (CONSOL Energy Inc. Project), (ii) the proceeds from the MEDCO Bonds to refinance the costs of acquisition, construction, improvement, installation and equipping of certain improvements, modifications and additions to a coal transshipment terminal located in the Canton area of the Port of Baltimore by refunding in full MEDCO’s outstanding $102,865 Port Facilities Refunding Revenue Bonds (CNX Marine Terminals Inc. Port of Baltimore Facility) Series 2010 and (iii) a portion of the proceeds of the WVEDA Bonds to finance and refinance the costs of acquisition, construction, improvement, installation and equipping of certain solid waste disposal facilities relating to a longwall coal mining complex known as the Leer South Mine located in Barbour County, West Virginia in part by refunding in full WVEDA’s outstanding $53,090 Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2020 and $44,985 Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2021.

The (i) PEDFA Bonds were issued pursuant to an indenture (the “PEDFA Indenture”), dated March 1, 2025, by and between PEDFA and Wilmington Trust, National Association, as trustee (the “Trustee”), and PEDFA made a loan of the proceeds of the PEDFA Bonds to the Company pursuant to a Loan Agreement, dated March 1, 2025 (the “PEDFA Loan Agreement”), between PEDFA and the Company; (ii) MEDCO Bonds were issued pursuant to an indenture (the “MEDCO Indenture”), dated March 1, 2025, by and between MEDCO and the Trustee, and MEDCO made a loan of the proceeds of the MEDCO Bonds to the Company pursuant to a Loan Agreement, dated March 1, 2025 (the “MEDCO Loan Agreement”), between MEDCO and the Company; and (iii) WVEDA Bonds were issued pursuant to an indenture (the “WVEDA Indenture” and together with the PEDFA Indenture and the MEDCO Indenture, the “Indentures”), dated March 1, 2025, by and between WVEDA and the Trustee, and WVEDA made a loan of the proceeds of the WVEDA Bonds to the Company pursuant to a Loan Agreement, dated as of March 1, 2025 (the “WVEDA Loan Agreement” and together with the PEDFA Loan Agreement and MEDCO Loan Agreement, the “Loan Agreements”), between WVEDA and the Company. Under the terms of the Loan Agreements, the Company agreed to make all payments of principal, interest and other amounts at any time due on the respective Bonds or under the respective Indenture.

As a result of these transactions, a loss of $11,680 was incurred and is included in Loss on Debt Extinguishment on the Consolidated Statement of Income (Loss) for the nine months ended September 30, 2025.

NOTE 14—COMMITMENTS AND CONTINGENT LIABILITIES:

The Company is subject to various lawsuits and claims with respect to such matters as personal injury, wrongful death, damage to property, exposure to hazardous substances, governmental regulations including environmental remediation, employment and contract disputes and other claims and actions arising out of the normal course of business. The Company accrues the estimated loss for these lawsuits and claims when the loss is probable and reasonably estimable. The Company’s estimated accruals related to pending claims not discussed below, individually and in the aggregate, were immaterial to the financial position, results of operations or cash flows of the Company as of September 30, 2025. It is possible that the aggregate loss in the future with respect to these lawsuits and claims could ultimately be material to the Company’s financial position, results of operations or cash flows; however, such amounts cannot be reasonably estimated. The amount claimed against the Company as of September 30, 2025 is disclosed below when an amount is expressly stated in the lawsuit or claim, which is not often the case.

United Mine Workers of America 1992 Benefit Plan Litigation: In 2013, Murray Energy and its subsidiaries (“Murray”) entered into a stock purchase agreement (the “Murray sale agreement”) with the Company's former parent, pursuant to which Murray acquired the stock of Consolidation Coal Company and certain subsidiaries and certain other assets and liabilities. At the time of sale, the liabilities included certain retiree medical liabilities under the Coal Industry Retiree Health Benefit Act of 1992 (“Coal Act”) and certain federal black lung liabilities under the Black Lung Benefits Act (“BLBA”). Murray filed for Chapter 11 bankruptcy in October 2019. As part of the bankruptcy proceedings, Murray unilaterally entered into a settlement with the United Mine Workers of America 1992 Benefit Plan (the “1992 Benefit Plan”) to transfer retirees in the Murray Energy Section 9711 Plan to the 1992 Benefit Plan. This was approved by the bankruptcy court on April 30, 2020. On May 2, 2020, the 1992 Benefit Plan filed an action in the U.S. District Court for the District of Columbia asking the court to make a determination whether the Company's former parent or the Company has any continuing retiree medical liabilities under the Coal Act (the “1992 Plan Lawsuit”). The Murray sale agreement includes indemnification by Murray with respect to the Coal Act and BLBA liabilities. In addition, the Company had agreed to indemnify its former parent relative to certain pre-separation liabilities. As of September 16, 2020, the Company entered into a settlement agreement with Murray and withdrew its claims in bankruptcy. On September 11, 2020, the Defendants in the 1992 Plan Lawsuit filed a Motion to Dismiss Plaintiffs' Second Amended Complaint which was denied by the Court on March 29, 2022. In October 2025, both parties filed a motion for summary judgment. In the 1992 Benefit Plan’s summary judgment motion, it alleged it is entitled to recover reimbursement for unpaid monthly benefits premiums from the beginning of the lawsuit to present in the amount of $64.8 million, plus interest and damages totaling

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$25.6 million, as well as an unspecified amount of attorneys’ fees. Based upon limited information available at the time of the Murray bankruptcy, the Company estimated that the future annual servicing costs of these liabilities in 2026 are approximately $10 million, and the annual servicing cost would decline each year since the beneficiaries of the Coal Act consist principally of miners who retired prior to 1994. The Company will continue to vigorously defend any claims that attempt to transfer any of such liabilities directly or indirectly to the Company, including raising all applicable defenses against the 1992 Benefit Plan’s suit. With respect to this lawsuit, while a loss is reasonably possible, it is not probable and, as a result, no accrual has been recorded.

The Company and various subsidiaries are defendants in certain other legal proceedings. In the opinion of management, based upon an investigation of these matters and discussion with legal counsel, the ultimate outcome of such other legal proceedings, individually and in the aggregate, is not expected to have a material adverse effect on the Company’s financial position, results of operations or liquidity.

The following is a summary, as of September 30, 2025, of the financial guarantees, unconditional purchase obligations and letters of credit to certain third parties. Employee-related financial guarantees have primarily been provided to support the 1992 Benefit Plan and federal black lung and various state workers' compensation self-insurance programs. Environmental financial guarantees have primarily been provided to support various performance bonds related to reclamation and other environmental issues. Other financial guarantees have been extended to support sales contracts, insurance policies, surety indemnity agreements, legal matters, full and timely payments of mining equipment leases, and various other items necessary in the normal course of business. These amounts represent the maximum potential of total future payments that the Company could be required to make under these instruments. Certain letters of credit included in the table below were issued against other commitments included in this table. These amounts have not been reduced for potential recoveries under recourse or collateralization provisions. Generally, recoveries under reclamation bonds would be limited to the extent of the work performed at the time of the default. No amounts related to these commitments are recorded as liabilities in the financial statements. The Company's management believes that these commitments will not have a material adverse effect on the Company's financial condition.

	Amount of Commitment Expiration per Period
	Total Amounts Committed		Less Than 1 Year		1-3 Years		3-5 Years		Beyond 5 Years
Letters of Credit:
Employee-Related	$	119,744	$	100,091	$	19,653	$	—	$	—
Environmental	398		398		—		—		—
Other	149,646		137,754		11,892		—		—
Total Letters of Credit	$	269,788	$	238,243	$	31,545	$	—	$	—
Surety Bonds:
Employee-Related	$	120,341	$	110,891	$	9,450	$	—	$	—
Environmental	819,060		563,502		255,558		—		—
Other	29,000		24,282		4,718		—		—
Total Surety Bonds	$	968,401	$	698,675	$	269,726	$	—	$	—

The Company regularly evaluates the likelihood of default for all guarantees based on an expected loss analysis and records the fair value, if any, of its guarantees as an obligation in the Consolidated Financial Statements.

NOTE 15—FAIR VALUE OF FINANCIAL INSTRUMENTS:

The Company determines the fair value of assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair values are based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. The fair value hierarchy is based on whether the inputs to valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources (including SOFR-based discount rates and U.S. Treasury-based rates), while unobservable inputs reflect the Company’s own assumptions of what market participants would use.

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The fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below.

Level 1 - Quoted prices for identical instruments in active markets. The Company's Level 1 assets include marketable securities.

Level 2 - The fair value of the assets and liabilities included in Level 2 is based on standard industry income approach models that use significant observable inputs, including SOFR-based discount rates and U.S. Treasury-based rates.

Level 3 - Unobservable inputs significant to the fair value measurement supported by little or no market activity.

In those cases when the inputs used to measure fair value meet the definition of more than one level of the fair value hierarchy, the lowest level input that is significant to the fair value measurement in its totality determines the applicable level in the fair value hierarchy.

The financial instruments measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements at						Fair Value Measurements at
	September 30, 2025						December 31, 2024
Description	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
U.S. Treasury Securities	$	—	$	—	$	—	$	51,993	$	—	$	—
Global Water Treatment Trust Fund (a)	$	15,058	$	—	$	—	$	12,054	$	—	$	—

(a) The Global Water Treatment Trust Fund is included in Funds for Asset Retirement Obligations in the accompanying Consolidated Balance Sheets.

The following methods and assumptions were used to estimate the fair value for which the fair value option was not elected:

Long-term debt: The fair value of long-term debt is measured using unadjusted quoted market prices or estimated using discounted cash flow analyses. The discounted cash flow analyses are based on current market rates for instruments with similar cash flows.

The carrying amounts and fair values of financial instruments for which the fair value option was not elected were as follows:

	September 30, 2025				December 31, 2024
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-Term Debt (Excluding Debt Issuance Costs)	$	391,009	$	408,732	$	184,677	$	199,052

Certain of the Company’s debt is actively traded on a public market and, as a result, constitutes Level 1 fair value measurements. The portion of the Company’s debt obligations that is not actively traded is valued through reference to the applicable underlying benchmark rate and, as a result, constitutes Level 2 fair value measurements.

NOTE 16—SEGMENT INFORMATION:

Prior to the completion of the Merger, the Company consisted of two reportable segments, the PAMC segment and the CONSOL Marine Terminal segment. Following completion of the Merger, the Company adjusted its internal reporting structure and the Company's CODM changed the manner in which he measures financial performance and allocates resources. Thus, the Company reassessed its reporting segments and the Company now consists of four reportable segments: (1) the High CV Thermal segment; (2) the Metallurgical segment; (3) the Powder River Basin (“PRB”) segment; and (4) the Baltimore Marine Terminal segment. Accordingly, the manner in which the Company reports its operations has been changed retrospectively, and all relevant prior period amounts have been recast to reflect this change.

The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management to make decisions on and assess performance of the Company’s reportable segments. The Company manages its segments by market and coal quality, not by individual mining complex or geographic region. The High CV Thermal segment contains the Company’s High CV Thermal operations in Pennsylvania, West Virginia, and Colorado; the Metallurgical segment contains the Company’s metallurgical operations in West

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Virginia; the PRB segment contains the Company’s surface mining complexes in Wyoming; and the Baltimore Marine Terminal segment contains the Company's coal export terminal operations in the Port of Baltimore.

The Company’s CODM is the chief executive officer, who utilizes Adjusted EBITDA to monitor each segment. Adjusted EBITDA removes financial activity not related to ongoing operations, which allows for a review of more streamlined operating results. It is used by the CODM to review the budget versus actual results and to evaluate the operating performance of each segment. This review and evaluation is utilized by the CODM to determine the best allocation of resources across the segments and for other business purposes.

Reportable segment results for the three months ended September 30, 2025 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	514,721	$	292,694	$	186,366	$	5,591
Intersegment Revenues	—		—		—		14,187
	514,721		292,694		186,366		19,778		$	1,013,559
Other Revenues (a)									3,171
Elimination of Intersegment Revenues									(14,187)
Total Consolidated Revenues									1,002,543
Less: (b)
Cash Costs of Revenue	293,002		209,285		169,945		7,626
Transportation Costs	82,550		66,912		2,830		—
Other Segment Items (c)	—		(975)		—		—
Adjusted EBITDA	$	139,169	$	17,472	$	13,591	$	12,152	$	182,384
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									679
Depreciation, Depletion and Amortization									(151,006)
General and Administrative Costs									(34,133)
Interest Expense									(10,606)
Interest Income									7,578
Non-Service Related Pension and Postretirement Benefit Costs									(6,562)
Idle Mine Costs									(5,080)
Other Operating Expense, net									(1,742)
Other Cost of Sales									(2,912)
Loss Before Income Tax									$	(21,400)

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	2,179,909	$	2,140,661	$	422,024	$	92,521	$	1,360,773	$	6,195,888
Depreciation, Depletion and Amortization	$	52,842	$	65,381	$	8,795	$	1,398	$	22,590	$	151,006
Capital Expenditures	$	40,642	$	2,719	$	1,876	$	3,104	$	956	$	49,297

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2025.

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Reportable segment results for the three months ended September 30, 2024 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	517,720	$	24,425	$	—	$	7,490
Intersegment Revenues	—		—		—		16,250
	517,720		24,425		—		23,740		$	565,885
Other Revenues (a)									3,797
Elimination of Intersegment Revenues									(16,250)
Total Consolidated Revenues									553,432
Less: (b)
Cash Costs of Revenue	245,252		31,394		—		6,919
Transportation Costs	77,990		1,666		—		—
Other Segment Items (c)	(1,701)		—		—		—
Adjusted EBITDA	$	196,179	$	(8,635)	$	—	$	16,821	$	204,365
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									1,042
Depreciation, Depletion and Amortization									(53,329)
General and Administrative Costs									(36,151)
Interest Expense									(4,664)
Interest Income									5,016
Non-Service Related Pension and Postretirement Benefit Costs									(4,400)
Idle Mine Costs									(1,291)
Other Operating Income, net									7,685
Other Cost of Sales									(5,102)
Earnings Before Income Tax									$	113,171

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	1,778,921	$	130,021	$	—	$	87,602	$	827,573	$	2,824,117
Depreciation, Depletion and Amortization	$	42,306	$	2,056	$	—	$	1,276	$	7,691	$	53,329
Capital Expenditures	$	30,743	$	4,484	$	—	$	2,805	$	1,356	$	39,388

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2024.

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Reportable segment results for the nine months ended September 30, 2025 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	1,663,307	$	897,268	$	535,827	$	15,087
Intersegment Revenues	—		—		—		48,488
	1,663,307		897,268		535,827		63,575		$	3,159,977
Other Revenues (a)									10,821
Elimination of Intersegment Revenues									(48,488)
Total Consolidated Revenues									3,122,310
Less: (b)
Cash Costs of Revenue	927,621		634,425		471,349		23,028
Transportation Costs	275,363		210,982		8,030		—
Other Segment Items (c)	—		56,674		—		—
Adjusted EBITDA	$	460,323	$	(4,813)	$	56,448	$	40,547	$	552,505
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									2,291
Depreciation, Depletion and Amortization									(441,825)
General and Administrative Costs									(158,285)
Interest Expense									(28,676)
Interest Income									20,297
Loss on Debt Extinguishment									(11,680)
Non-Service Related Pension and Postretirement Benefit Costs									(19,301)
Idle Mine Costs									(14,644)
Other Operating Income, net									3,169
Other Cost of Sales									(28,184)
Loss Before Income Tax									$	(124,333)

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	2,179,909	$	2,140,661	$	422,024	$	92,521	$	1,360,773	$	6,195,888
Depreciation, Depletion and Amortization	$	156,153	$	186,587	$	25,241	$	4,171	$	69,673	$	441,825
Capital Expenditures	$	122,812	$	57,192	$	6,785	$	5,884	$	10,631	$	203,304

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2025.

29

Reportable segment results for the nine months ended September 30, 2024 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	1,469,201	$	87,024	$	—	$	22,689
Intersegment Revenues	—		—		—		37,599
	1,469,201		87,024		—		60,288		$	1,616,513
Other Revenues (a)									11,927
Elimination of Intersegment Revenues									(37,599)
Total Consolidated Revenues									1,590,841
Less: (b)
Cash Costs of Revenue	717,948		99,862		—		20,223
Transportation Costs	228,842		7,645		—		—
Other Segment Items (c)	(3,021)		—		—		—
Adjusted EBITDA	$	525,432	$	(20,483)	$	—	$	40,065	$	545,014
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									3,676
Depreciation, Depletion and Amortization									(165,173)
General and Administrative Costs									(77,669)
Interest Expense									(15,063)
Interest Income									14,145
Non-Service Related Pension and Postretirement Benefit Costs									(13,201)
Idle Mine Costs									(4,003)
Other Operating Income, net									17,608
Other Cost of Sales									(6,341)
Earnings Before Income Tax									$	298,993

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	1,778,921	$	130,021	$	—	$	87,602	$	827,573	$	2,824,117
Depreciation, Depletion and Amortization	$	129,146	$	6,267	$	—	$	3,544	$	26,216	$	165,173
Capital Expenditures	$	114,744	$	9,463	$	—	$	7,605	$	5,336	$	137,148

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2024.

30

Revenues from customers that exceeded 10% of consolidated revenues were as follows:

	Three Months Ended September 30,			Nine Months Ended September 30,
	2025	2024		2025	2024
Customer A (a)	(b)	$	67,016	(b)	$	176,844
Customer B (a)	(b)	$	63,473	(b)	$	172,394

(a) Revenues from this customer were principally included in our High CV Thermal segment.

(b) Revenues during these periods were less than 10% of the Company's consolidated revenues.

NOTE 17—STOCK REPURCHASES:

In December 2017, the Company's Board of Directors approved a program to repurchase, from time to time, the Company's outstanding shares of common stock or its 11.00% Senior Secured Second Lien Notes due 2025. This program terminated on December 31, 2024.

On February 18, 2025, the Company's Board of Directors approved a capital return framework that involves a mix of dividends and share repurchases. The repurchase program permits the repurchase, from time to time, of the Company's outstanding shares of common stock in an aggregate amount of up to $1 billion, subject to certain covenants in the Revolving Credit Facility and the agreements relating to the Series 2025 Bonds that limit the Company's ability to repurchase shares of its common stock.

Under the terms of the program, the Company is permitted to make repurchases in the open market, in privately negotiated transactions, accelerated repurchase programs or in structured share repurchase programs. The Company is also authorized to enter into one or more 10b5-1 plans with respect to any of the repurchases. Any repurchases of common stock are to be funded from available cash on hand or short-term borrowings. The program does not obligate the Company to acquire any particular amount of its common stock, and the program can be modified or suspended at any time at the Company’s discretion. The program is conducted in compliance with applicable legal requirements as well as any covenants or other requirements included in the Company's credit agreements, receivables purchase agreements and indentures.

During the nine months ended September 30, 2025 and 2024, the Company repurchased and retired 2,824,033 and 747,351 shares, respectively, of the Company's common stock at an average price of $71.74 and $89.49 per share, respectively.

NOTE 18—SUBSEQUENT EVENTS:

On November 6, 2025, Core announced a $0.10 per share dividend in an aggregate amount of approximately $5.1 million, payable on December 15, 2025 to all stockholders of record as of November 28, 2025.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) in conjunction with the Consolidated Financial Statements and corresponding notes included elsewhere in this Quarterly Report on Form 10-Q. In addition, this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements for the three-year period ended December 31, 2024 included in the Company's Annual Report on Form 10-K, filed on February 20, 2025. This MD&A contains forward-looking statements, and the matters discussed in these forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those projected or implied in the forward-looking statements. Please see “Risk Factors” and “Forward-Looking Statements” for a discussion of the uncertainties, risks and assumptions associated with these statements.

All amounts discussed are in millions of U.S. dollars, unless otherwise indicated. All tons discussed are on a clean coal equivalent basis.

Recent Developments

Merger

On January 14, 2025, the Company completed the Merger with Arch. Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into Arch, with Arch continuing as the surviving corporation and as a wholly-owned subsidiary of the Company. See Note 2 - Merger with Arch in the Notes to the Consolidated Financial Statements in Item 1 of this Quarterly Report on Form 10-Q for additional information.

Prior to the completion of the Merger, the Company consisted of two reportable segments, the PAMC segment and the CONSOL Marine Terminal segment. Following completion of the Merger, the Company adjusted its internal reporting structure, and the Company's chief operating decision maker (“CODM”) changed the manner in which he measures financial performance and allocates resources. Thus, the Company reassessed its reporting segments and the Company now consists of four reportable segments: (1) the High CV Thermal segment; (2) the Metallurgical segment; (3) the Powder River Basin (“PRB”) segment; and (4) the Baltimore Marine Terminal segment. Accordingly, the manner in which the Company reports its operations has been changed retrospectively, and all relevant prior period amounts have been recast to reflect this change.

Combustion-Related Activity at Leer South Mine

On January 13, 2025, an isolated combustion-related activity was reported at the Leer South mine, located in Barbour County, West Virginia. The Company temporarily sealed the Leer South mine's active longwall panel in order to extinguish such activity. The Company resumed development work with continuous miners in February 2025, and Company personnel and regulatory officials re-entered the sealed area of the mine on June 10, 2025. Thereafter, ventilation to the full mine was re-established, hydraulic pressure along the longwall face was restored and an extensive evaluation of the mine's major equipment and infrastructure was conducted. As expected, the longwall was largely unaffected by the combustion event, and major components and systems remain in good condition. On June 26, 2025, the operating team found it necessary to evacuate the mine and begin restoring pumpable seals to the affected area in the wake of an increase in carbon monoxide levels. The Company has continued to work closely with federal and state officials on a plan to recover and reposition the longwall equipment and is currently waiting on approval of the plan by the federal Mine Safety and Health Administration; however, this has been delayed due to the government shutdown.

The Company currently expects to incur fire extinguishment and idle costs of $15 million to $25 million at Leer South in the fourth quarter of 2025. Our initial advancement of insurance proceeds was $19.4 million, and the Company will continue to pursue all avenues for additional recoveries as we work to reopen the mine.

One Big Beautiful Bill Act

On July 4, 2025, H.R. 1, the One Big Beautiful Bill Act (the “OBBBA”) was signed into law by the President of the U.S. Several provisions included in the OBBBA are expected to benefit the Company, including language designating U.S.-produced metallurgical coal as a “critical material” under Internal Revenue Code Section 45X (Advanced Manufacturing Production Credit), through which the Company will be eligible for a 2.5% monetizable tax credit on production-related costs beginning in 2026 and sunsetting at the end of 2029. The Company is currently evaluating the OBBBA provisions, and the determination as to the applicability and extent of the OBBBA's provisions on the Company's future results of operations and cash flows will be dependent upon interpretations of the law and revenue rulings issued by the U.S. Treasury Department.

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Executive Orders

President Trump issued a series of executive orders in April 2025 intended to reduce the regulatory burden on U.S. coal-based power plants and to ensure the long-term preservation of the U.S. coal fleet. The Trump Administration views the coal fleet as essential to the security, resilience and reliability of the U.S. power system.

Our Business

We are a world-class producer and exporter of high-quality, low-cost coals, including metallurgical and thermal coals. With a focus on seaborne markets, we play an essential role in meeting the world's growing need for steel, infrastructure and energy and have ownership interests in two marine export terminals.

The Merger joined two proven leadership teams and operating platforms to establish Core, a premier North American coal producer and exporter of high-quality, low-cost coals with offerings ranging from metallurgical to high calorific value and other thermal coals. With mining operations and terminal facilities across six states, Core owns 11 mines, including one of the largest, lowest cost and highest calorific value thermal coal mining complexes in North America and one of the largest, lowest cost and highest quality metallurgical coal mine portfolios in the U.S. Core also has access to global markets via ownership interests in two export terminals on the U.S. Eastern seaboard, along with strategic connectivity to ports on the West Coast and the Gulf of America. The combined company expects to realize meaningful operating synergies through the optimization of support functions, greatly enhanced marketing opportunities and a significantly expanded logistics network, which will enhance the Company's ability to deliver coal reliably and efficiently to its global customers.

How We Evaluate Our Operations

Our management team uses a variety of financial and operating metrics to analyze our performance. These metrics are significant factors in assessing our operating results and profitability. The metrics include: (i) coal production and sales volumes; (ii) realized coal revenue, a non-GAAP financial measure; (iii) realized coal revenue per ton sold, an operating ratio derived from non-GAAP financial measures; (iv) cash cost of coal sold, a non-GAAP financial measure; (v) cash cost of coal sold per ton, an operating ratio derived from non-GAAP financial measures; (vi) cash margin per ton sold, an operating ratio derived from non-GAAP financial measures, defined as realized coal revenue per ton sold less cash cost of coal sold per ton; and (vii) adjusted EBITDA, a non-GAAP financial measure.

We believe that realized coal revenue and realized coal revenue per ton sold better reflect our revenue for the quality of coal sold and our operating results by including all income from coal sales. We believe cash cost of coal sold, cash cost of coal sold per ton and cash margin per ton sold normalize the volatility contained within comparable GAAP measures by adjusting for certain non-operating or non-cash transactions. We believe that adjusted EBITDA provides a helpful measure of comparing our operating performance with the performance of other companies that have different financing, capital structures and tax rates than ours. Each of these non-GAAP measures are used as supplemental financial measures by management and by external users of our financial statements, such as investors, industry analysts, lenders and ratings agencies, to assess:

•our operating performance compared to the operating performance of other companies in the coal industry, without regard to financing methods, historical cost basis, tax rates or capital structure;

•the ability of our assets to generate sufficient cash flow;

•our ability to incur and service debt and fund capital expenditures;

•the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities; and

•the attractiveness of capital projects and acquisitions and the overall rates of return on alternative investment opportunities.

These non-GAAP financial measures should not be considered an alternative to cost of sales, net income (loss) or any other measure of financial performance presented in accordance with GAAP. These measures exclude some, but not all, items that affect measures presented in accordance with GAAP, and these measures and the way we calculate them may vary from those of other companies. As a result, the items presented below may not be comparable to similarly titled measures of other companies.

Reconciliation of Non-GAAP Financial Measures

We define realized coal revenue as revenues reported in the Consolidated Statements of Income (Loss) less transportation costs, transloading revenues and other revenues not directly attributable to coal sales. We define realized coal revenue per ton sold as realized coal revenue divided by tons sold. The following tables present reconciliations by

33

reportable segment of realized coal revenue and realized coal revenue per ton sold to revenues, the most directly comparable GAAP financial measure (in thousands, except per ton information):

	Three Months Ended September 30, 2025
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Idle and Other		Eliminations		Consolidated
Revenues	$	514,721	$	292,694	$	186,366	$	19,778	$	3,171	$	(14,187)	$	1,002,543
Less: Adjustments to Reconcile to Segment Realized Coal Revenue
Transportation Costs	82,550		66,912		2,830		—		—		—		152,292
Intersegment Terminal Revenues	—		—		—		14,187		—		(14,187)		—
Non-Coal Revenues	—		—		—		5,591		3,171		—		8,762
Segment Realized Coal Revenue	$	432,171	$	225,782	$	183,536	$	—	$	—	$	—	$	841,489
Tons Sold	7,229		2,222		13,030
Realized Coal Revenue per Ton Sold	$	59.78	$	101.60	$	14.09

	Three Months Ended September 30, 2024
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Idle and Other		Eliminations		Consolidated
Revenues	$	517,720	$	24,425	$	—	$	23,740	$	3,797	$	(16,250)	$	553,432
Less: Adjustments to Reconcile to Segment Realized Coal Revenue
Transportation Costs	77,990		1,666		—		—		—		—		79,656
Intersegment Terminal Revenues	—		—		—		16,250		—		(16,250)		—
Non-Coal Revenues	—		—		—		7,490		3,797		—		11,287
Segment Realized Coal Revenue	$	439,730	$	22,759	$	—	$	—	$	—	$	—	$	462,489
Tons Sold	6,840		152		—
Realized Coal Revenue per Ton Sold	$	64.28	$	149.85	$	—

34

	Nine Months Ended September 30, 2025
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Idle and Other		Eliminations		Consolidated
Revenues	$	1,663,307	$	897,268	$	535,827	$	63,575	$	10,821	$	(48,488)	$	3,122,310
Less: Adjustments to Reconcile to Segment Realized Coal Revenue
Transportation Costs	275,363		210,982		8,030		—		—		—		494,375
Intersegment Terminal Revenues	—		—		—		48,488		—		(48,488)		—
Non-Coal Revenues	—		—		—		15,087		10,821		—		25,908
Segment Realized Coal Revenue	$	1,387,944	$	686,286	$	527,797	$	—	$	—	$	—	$	2,602,027
Tons Sold	22,714		6,773		36,293
Realized Coal Revenue per Ton Sold	$	61.11	$	101.32	$	14.54

	Nine Months Ended September 30, 2024
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Idle and Other		Eliminations		Consolidated
Revenues	$	1,469,201	$	87,024	$	—	$	60,288	$	11,927	$	(37,599)	$	1,590,841
Less: Adjustments to Reconcile to Segment Realized Coal Revenue
Transportation Costs	228,842		7,645		—		—		—		—		236,487
Intersegment Terminal Revenues	—		—		—		37,599		—		(37,599)		—
Non-Coal Revenues	—		—		—		22,689		11,927		—		34,616
Segment Realized Coal Revenue	$	1,240,359	$	79,379	$	—	$	—	$	—	$	—	$	1,319,738
Tons Sold	18,684		509		—
Realized Coal Revenue per Ton Sold	$	66.39	$	155.99	$	—

35

We evaluate our cash cost of coal sold on an aggregate basis by segment and our cash cost of coal sold per ton on a per-ton basis. Cash cost of coal sold includes items such as direct operating costs, royalty and production taxes and direct administration costs, and excludes transportation costs, indirect costs, other costs not directly attributable to the production of coal and depreciation, depletion and amortization costs on production assets. We define cash cost of coal sold per ton as cash cost of coal sold divided by tons sold. The following tables present reconciliations by reportable segment of cash cost of coal sold and cash cost of coal sold per ton to cost of sales, the most directly comparable GAAP financial measure (in thousands, except per ton information):

	Three Months Ended September 30, 2025
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Idle and Other		Eliminations		Consolidated
Cost of Sales	$	375,552	$	275,222	$	172,775	$	7,626	$	10,484	$	(14,187)	$	827,472
Less: Adjustments to Reconcile to Segment Cash Cost of Coal Sold
Transportation Costs	69,704		65,571		2,830		—		—		—		138,105
Cost of Sales from Idled Operations	—		18,375		—		—		5,080		—		23,455
Insurance Reimbursements	—		(19,350)		—		—		—		—		(19,350)
Intersegment Transloading Costs	12,846		1,341		—		—		—		(14,187)		—
Terminal Operating Costs	—		—		—		7,626		—		—		7,626
Other Non-Active Mining Costs	—		—		—		—		5,404		—		5,404
Segment Cash Cost of Coal Sold	$	293,002	$	209,285	$	169,945	$	—	$	—	$	—	$	672,232
Tons Sold	7,229		2,222		13,030
Cash Cost of Coal Sold per Ton	$	40.53	$	94.18	$	13.04

	Three Months Ended September 30, 2024
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Idle and Other		Eliminations		Consolidated
Cost of Sales	$	323,242	$	33,060	$	—	$	6,919	$	7,447	$	(16,250)	$	354,418
Less: Adjustments to Reconcile to Segment Cash Cost of Coal Sold
Transportation Costs	62,219		1,187		—		—		—		—		63,406
Cost of Sales from Idled Operations	—		—		—		—		1,291		—		1,291
Intersegment Transloading Costs	15,771		479		—		—		—		(16,250)		—
Terminal Operating Costs	—		—		—		6,919		—		—		6,919
Other Non-Active Mining Costs	—		—		—		—		6,156		—		6,156
Segment Cash Cost of Coal Sold	$	245,252	$	31,394	$	—	$	—	$	—	$	—	$	276,646
Tons Sold	6,840		152		—
Cash Cost of Coal Sold per Ton	$	35.85	$	206.71	$	—

36

	Nine Months Ended September 30, 2025
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Idle and Other		Eliminations		Consolidated
Cost of Sales	$	1,202,984	$	902,081	$	479,379	$	23,028	$	51,358	$	(48,488)	$	2,610,342
Less: Adjustments to Reconcile to Segment Cash Cost of Coal Sold
Transportation Costs	229,997		207,860		8,030		—		—		—		445,887
Cost of Sales from Idled Operations	—		76,024		—		—		14,644		—		90,668
Insurance Reimbursements	—		(19,350)		—		—		—		—		(19,350)
Intersegment Transloading Costs	45,366		3,122		—		—		—		(48,488)		—
Terminal Operating Costs	—		—		—		23,028		—		—		23,028
Other Non-Active Mining Costs	—		—		—		—		36,714		—		36,714
Segment Cash Cost of Coal Sold	$	927,621	$	634,425	$	471,349	$	—	$	—	$	—	$	2,033,395
Tons Sold	22,714		6,773		36,293
Cash Cost of Coal Sold per Ton	$	40.84	$	93.67	$	12.99

	Nine Months Ended September 30, 2024
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Idle and Other		Eliminations		Consolidated
Cost of Sales	$	946,790	$	107,507	$	—	$	20,223	$	15,574	$	(37,599)	$	1,052,495
Less: Adjustments to Reconcile to Segment Cash Cost of Coal Sold
Transportation Costs	192,569		6,319		—		—		—		—		198,888
Cost of Sales from Idled Operations	—		—		—		—		4,003		—		4,003
Intersegment Transloading Costs	36,273		1,326		—		—		—		(37,599)		—
Terminal Operating Costs	—		—		—		20,223		—		—		20,223
Other Non-Active Mining Costs	—		—		—		—		11,571		—		11,571
Segment Cash Cost of Coal Sold	$	717,948	$	99,862	$	—	$	—	$	—	$	—	$	817,810
Tons Sold	18,684		509		—
Cash Cost of Coal Sold per Ton	$	38.43	$	196.25	$	—

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We define adjusted EBITDA as (i) net income (loss) plus income taxes, net interest expense and depreciation, depletion and amortization, as adjusted for (ii) certain non-cash items, such as loss on debt extinguishment and (iii) other adjustments, such as stock-based compensation and Merger-related expenses. Adjusted EBITDA may also be adjusted for items that may not reflect the trend of future results by excluding transactions that are not indicative of our operating performance or that arise outside of the ordinary course of our business. The following tables present reconciliations by reportable segment of adjusted EBITDA to net income (loss), the most directly comparable GAAP financial measure (in thousands):

	Three Months Ended September 30, 2025
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Other and Corporate		Consolidated
Net Income (Loss)	$	86,327	$	(47,909)	$	4,796	$	10,754	$	(22,370)	$	31,598
Income Tax Benefit	—		—		—		—		(52,998)		(52,998)
Interest Expense, net	—		—		—		—		3,028		3,028
Depreciation, Depletion and Amortization	52,842		65,381		8,795		1,398		22,590		151,006
Other Adjustments	—		—		—		—		8,548		8,548
Adjusted EBITDA	$	139,169	$	17,472	$	13,591	$	12,152	$	(41,202)	$	141,182

	Three Months Ended September 30, 2024
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Other and Corporate		Consolidated
Net Income (Loss)	$	153,873	$	(10,691)	$	—	$	15,545	$	(63,095)	$	95,632
Income Tax Expense	—		—		—		—		17,539		17,539
Interest Income, net	—		—		—		—		(352)		(352)
Depreciation, Depletion and Amortization	42,306		2,056		—		1,276		7,691		53,329
Other Adjustments	—		—		—		—		13,030		13,030
Adjusted EBITDA	$	196,179	$	(8,635)	$	—	$	16,821	$	(25,187)	$	179,178

	Nine Months Ended September 30, 2025
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Other and Corporate		Consolidated
Net Income (Loss)	$	304,170	$	(191,400)	$	31,207	$	36,376	$	(254,588)	$	(74,235)
Income Tax Benefit	—		—		—		—		(50,098)		(50,098)
Interest Expense, net	—		—		—		—		8,379		8,379
Depreciation, Depletion and Amortization	156,153		186,587		25,241		4,171		69,673		441,825
Loss on Debt Extinguishment	—		—		—		—		11,680		11,680
Other Adjustments	—		—		—		—		71,386		71,386
Adjusted EBITDA	$	460,323	$	(4,813)	$	56,448	$	40,547	$	(143,568)	$	408,937

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	Nine Months Ended September 30, 2024
	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Other and Corporate		Consolidated
Net Income (Loss)	$	396,286	$	(26,750)	$	—	$	36,521	$	(150,473)	$	255,584
Income Tax Expense	—		—		—		—		43,409		43,409
Interest Expense, net	—		—		—		—		918		918
Depreciation, Depletion and Amortization	129,146		6,267		—		3,544		26,216		165,173
Other Adjustments	—		—		—		—		20,385		20,385
Adjusted EBITDA	$	525,432	$	(20,483)	$	—	$	40,065	$	(59,545)	$	485,469

Results of Operations: Three Months Ended September 30, 2025 Compared with the Three Months Ended September 30, 2024

Revenues

The Company's revenues primarily include sales to customers of coal produced at our operations and, to a lesser extent, coal purchased from third parties. The Company's revenues also include transloading services at the Port of Baltimore, as well as other revenues generated from customers.

Our presence in the metallurgical coal market has expanded through the Merger with two longwall mines and two continuous miner mines in West Virginia that produce a premium metallurgical product used in the global steel industry. We also gained two thermal surface mines in the Powder River Basin, as well as another thermal longwall mine in Colorado. The thermal surface mines produce thermal coal for sale into domestic and international markets, while the thermal longwall mine produces a high-quality, high calorific value thermal product that can compete effectively in seaborne markets.

Consolidated revenues in the three months ended September 30, 2025 were $449 million higher than the three months ended September 30, 2024. As a result of the Merger, the legacy Arch operations contributed $513 million of revenues in the three months ended September 30, 2025, primarily from coal sales in the Metallurgical and PRB segments. The revenues of legacy CONSOL's PAMC decreased $53 million in the period-to-period comparison, primarily due to lower sales tons and reduced realization. The revenues of legacy CONSOL's Itmann mine decreased $7 million in the period-to-period comparison, primarily due to lower sales tons and reduced metallurgical coal benchmark pricing. The revenues of the Baltimore Marine Terminal decreased $4 million in the period-to-period comparison, primarily due to lower throughput volumes. See the discussion in “Operational Performance” below for further information about segment results.

Cost of Sales

Cost of sales includes items such as direct operating costs, royalty and production taxes, direct administration costs and transportation costs. Our consolidated cost of sales in the three months ended September 30, 2025 increased $473 million compared to the three months ended September 30, 2024. As a result of the Merger, the legacy Arch operations incurred cost of sales of $482 million during the three months ended September 30, 2025. Cost of sales at legacy CONSOL's PAMC and the Itmann mine decreased $15 million in the period-to-period comparison, primarily due to decreased sales tons. Cost of sales at the Baltimore Marine Terminal increased $1 million in the period-to-period comparison. See the discussion in “Operational Performance” below for further information about segment results. The remaining $5 million increase in the period-to-period comparison was the result of additional operating overhead and certain actuarial costs during the three months ended September 30, 2025.

Depreciation, Depletion and Amortization

On a consolidated basis, depreciation, depletion and amortization costs were $151 million for the three months ended September 30, 2025, compared to $53 million for the three months ended September 30, 2024, resulting in a $98 million increase. The assets acquired in the Merger resulted in an additional $93 million of depreciation, depletion and amortization expense in the three months ended September 30, 2025. See Note 2 - Merger with Arch in the Notes to the Consolidated Financial Statements in Item 1 of this Quarterly Report on Form 10-Q for additional information. The remaining increase was primarily the result of additional capital expenditures at the legacy CONSOL operations and adjustments to the Company's asset retirement obligations in the three months ended September 30, 2025, none of which were individually material.

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General and Administrative Costs

On a consolidated basis, general and administrative costs were $34 million for the three months ended September 30, 2025, compared to $36 million for the three months ended September 30, 2024. The $2 million decrease in the period-to-period comparison was primarily due to non-recurring transaction costs, including fees paid to financial, legal and accounting advisors, severance and benefit costs, filing fees and debt restructuring costs, incurred during the three months ended September 30, 2024 as a result of the Merger, partially offset by increased headcount as a combined company. See Note 2 - Merger with Arch in the Notes to the Consolidated Financial Statements in Item 1 of this Quarterly Report on Form 10-Q for additional information.

Other Operating (Expense) Income, net

Other operating (expense) income, net changed by $10 million in the period-to-period comparison due to the following items:

	Three Months Ended September 30,
	2025		2024		Variance
Royalty Income - Non-Operated Coal	$	9	$	7	$	2
Contract Assessments	—		8		(8)
Land Holding and Administrative Costs	(10)		(2)		(8)
Other	(1)		(5)		4
Total Other Operating (Expense) Income, net	$	(2)	$	8	$	(10)

Royalty income increased as a result of additional leased coal volumes related to overriding royalty agreements or coal reserve leases between the Company and third-party operators.

There were no contract assessments during the three months ended September 30, 2025. Contract assessment income during the three months ended September 30, 2024 was primarily the result of penalties and fees levied against customers that did not meet the purchase obligations under their contracts with the Company.

Land holding and administrative costs increased primarily due to the acquisition of various coal leases and land holdings as a result of the Merger.

Interest Expense and Interest Income

On a consolidated basis, interest expense was $11 million for the three months ended September 30, 2025, compared to $5 million for the three months ended September 30, 2024. The $6 million increase in the period-to-period comparison was primarily due to interest incurred on the WVEDA Bonds (as defined below), as well as interest incurred on additional equipment financing arrangements.

Interest income increased $3 million in the period-to-period comparison primarily as a result of increased cash and cash equivalents.

Non-Service Related Pension and Postretirement Benefit Costs

Non-service related pension and postretirement benefit costs increased $2 million in the period-to-period comparison, primarily due to the impact of changes in actuarial assumptions made at the beginning of each year and as a result of the Merger.

Operational Performance: Three Months Ended September 30, 2025 Compared with the Three Months Ended September 30, 2024

The Company consists of four reportable segments: (1) the High CV Thermal segment; (2) the Metallurgical segment; (3) the PRB segment; and (4) the Baltimore Marine Terminal segment. The High CV Thermal segment consists of the Company's Pennsylvania Mining Complex and the West Elk mine located in Colorado. The Metallurgical segment consists of the Company's Leer, Leer South, Beckley, Mountain Laurel and Itmann coal mines in West Virginia. The PRB segment consists of the Company's Black Thunder and Coal Creek surface mining complexes located in Wyoming. The Baltimore Marine Terminal segment consists of the Company's coal export terminal operations in the Port of Baltimore.

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Most of the production from the PRB segment is sold to U.S. power generators, who in recent years have indicated a shift in their generating capacity to other, non-coal fuel and energy sources. As such, the Company is managing its operational footprint at its PRB operations to meet current demand and has put in place funding to pay for the eventual closure and final reclamation of these operations.

The Company evaluates the performance of its segments utilizing Adjusted EBITDA and various productivity metrics. Adjusted EBITDA measures the operating performance of the Company's segments and is used to allocate resources to the Company's segments. The following table presents results by reportable segment:

	Three Months Ended September 30,
	2025		2024		Variance
High CV Thermal Segment
Total Tons Produced (in millions)	7.6		7.2		0.4
Total Tons Sold (in millions)	7.2		6.8		0.4
Realized Coal Revenue per Ton Sold (1)	$	59.78	$	64.28	$	(4.50)
Cash Cost of Coal Sold per Ton (1)	$	40.53	$	35.85	$	4.68
Cash Margin per Ton Sold (1)	$	19.25	$	28.43	$	(9.18)
Adjusted EBITDA (in thousands) (1)	$	139,169	$	196,179	$	(57,010)
Metallurgical Segment
Total Tons Produced (in millions)	2.3		0.2		2.1
Total Tons Sold (in millions)	2.2		0.2		2.0
Realized Coal Revenue per Ton Sold (1)	$	101.60	$	149.85	$	(48.25)
Cash Cost of Coal Sold per Ton (1)	$	94.18	$	206.71	$	(112.53)
Cash Margin per Ton Sold (1)	$	7.42	$	(56.86)	$	64.28
Adjusted EBITDA (in thousands) (1)	$	17,472	$	(8,635)	$	26,107
PRB Segment
Total Tons Produced (in millions)	12.9		—		12.9
Total Tons Sold (in millions)	13.0		—		13.0
Realized Coal Revenue per Ton Sold (1)	$	14.09	$	—	$	14.09
Cash Cost of Coal Sold per Ton (1)	$	13.04	$	—	$	13.04
Cash Margin per Ton Sold (1)	$	1.05	$	—	$	1.05
Adjusted EBITDA (in thousands) (1)	$	13,591	$	—	$	13,591
Baltimore Marine Terminal Segment
Throughput Tons (in millions)	4.0		4.7		(0.7)
Adjusted EBITDA (in thousands) (1)	$	12,152	$	16,821	$	(4,669)

(1) Realized coal revenue per ton sold, cash cost of coal sold per ton and cash margin per ton sold are operating ratios derived from non-GAAP financial measures, and Adjusted EBITDA is a non-GAAP financial measure. See “How We Evaluate Our Operations - Reconciliation of Non-GAAP Financial Measures” above for definitions and reconciliations of these amounts to the most directly comparable GAAP measures.

HIGH CV THERMAL SEGMENT ANALYSIS:

Adjusted EBITDA decreased $57 million in the period-to-period comparison, primarily due to reduced realization and a 0.3 million ton decrease in PAMC sales volumes quarter-over-quarter. Realized coal revenue per ton sold was negatively impacted by softened international markets, which weighed on Newcastle prices, coupled with weak demand in Europe, which weighed on API2 pricing.

METALLURGICAL SEGMENT ANALYSIS:

All Metallurgical segment operations, except Itmann, were acquired in the Merger, resulting in additional sales volumes of 2.1 million tons, realized coal revenue of $210 million and cash cost of coal sold of $191 million in the three

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months ended September 30, 2025. However, realized coal revenue per ton sold was significantly impacted by reduced metallurgical coal benchmark prices during the three months ended September 30, 2025, which remained challenged due to surplus production within the industry and weak demand. Adjusted EBITDA was also impacted by $18 million of costs incurred during the current quarter related to the combustion incident at the Leer South mine, offset by $19 million of insurance reimbursements.

PRB SEGMENT ANALYSIS:

The PRB segment operations were acquired in the Merger and, as such, there was no activity during the three months ended September 30, 2024. The PRB segment produced 12.9 million tons and sold 13.0 million tons in the three months ended September 30, 2025. Adjusted EBITDA was $14 million in the current quarter.

BALTIMORE MARINE TERMINAL SEGMENT ANALYSIS:

Adjusted EBITDA for the three months ended September 30, 2025 was $12 million, compared to $17 million for the three months ended September 30, 2024. Throughput volumes at the Baltimore Marine Terminal were 4.0 million tons for the three months ended September 30, 2025, compared to 4.7 million tons for the three months ended September 30, 2024. Baltimore Marine Terminal revenue was $20 million for the three months ended September 30, 2025, compared to $24 million for the three months ended September 30, 2024.

Results of Operations: Nine Months Ended September 30, 2025 Compared with the Nine Months Ended September 30, 2024

Revenues

Consolidated revenues in the nine months ended September 30, 2025 were $1,531 million higher than the nine months ended September 30, 2024. As a result of the Merger, the legacy Arch operations contributed $1,532 million of revenues in the nine months ended September 30, 2025, primarily from coal sales in the Metallurgical and PRB segments. The revenues of legacy CONSOL's PAMC increased $9 million in the period-to-period comparison, primarily due to increased sales tons. Revenues from legacy CONSOL's Itmann mine decreased $14 million in the period-to-period comparison, primarily due to reduced metallurgical coal benchmark prices. The revenues of the Baltimore Marine Terminal increased $4 million in the period-to-period comparison, primarily due to the negative impacts of the Francis Scott Key Bridge collapse during the second quarter of 2024. See the discussion in “Operational Performance” below for further information about segment results.

Cost of Sales

Our consolidated cost of sales in the nine months ended September 30, 2025 increased $1,558 million compared to the nine months ended September 30, 2024. As a result of the Merger, the legacy Arch operations incurred cost of sales of $1,495 million during the nine months ended September 30, 2025. Cost of sales at legacy CONSOL's PAMC and the Itmann mine increased $43 million in the period-to-period comparison, primarily due to increased sales tons. Cost of sales at the Baltimore Marine Terminal increased $3 million in the period-to-period comparison, primarily due to increased throughput volumes. See the discussion in “Operational Performance” below for further information about segment results. The remaining $17 million increase was the result of additional operating overhead and certain actuarial costs, as well as costs incurred at the Company's idled locations, during the nine months ended September 30, 2025.

Depreciation, Depletion and Amortization

On a consolidated basis, depreciation, depletion and amortization costs were $442 million for the nine months ended September 30, 2025, compared to $165 million for the nine months ended September 30, 2024, resulting in a $277 million increase. The assets acquired in the Merger resulted in an additional $258 million of depreciation, depletion and amortization expense in the nine months ended September 30, 2025. See Note 2 - Merger with Arch in the Notes to the Consolidated Financial Statements in Item 1 of this Quarterly Report on Form 10-Q for additional information. The remaining increase was primarily the result of additional capital expenditures at the legacy CONSOL operations and adjustments to the Company's asset retirement obligations in the nine months ended September 30, 2025, none of which were individually material.

General and Administrative Costs

On a consolidated basis, general and administrative costs were $158 million for the nine months ended September 30, 2025, compared to $78 million for the nine months ended September 30, 2024. The $81 million increase in the period-to-period comparison was primarily due to increased headcount as a combined company, an increase in long-term incentive

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compensation recognized in relation to award modifications due to the Merger and non-recurring transaction costs, including fees paid to financial, legal and accounting advisors, severance and benefit costs, filing fees and debt restructuring costs, as a result of the Merger. See Note 2 - Merger with Arch in the Notes to the Consolidated Financial Statements in Item 1 of this Quarterly Report on Form 10-Q for additional information.

Other Operating (Expense) Income, net

Other operating (expense) income, net changed by $15 million in the period-to-period comparison due to the following items:

	Nine Months Ended September 30,
	2025		2024		Variance
Royalty Income - Non-Operated Coal	$	23	$	16	$	7
Gain on Sale of Assets	6		7		(1)
Contract Assessments	—		11		(11)
Land Holding and Administrative Costs	(19)		(6)		(13)
Other	(7)		(10)		3
Total Other Operating (Expense) Income, net	$	3	$	18	$	(15)

Royalty income increased as a result of additional leased coal volumes related to overriding royalty agreements or coal reserve leases between the Company and third-party operators.

There were no contract assessments during the nine months ended September 30, 2025. Contract assessment income during the nine months ended September 30, 2024 was primarily the result of penalties and fees levied against customers that did not meet the purchase obligations under their contracts with the Company. This amount also included partial contract buyouts that involved negotiations with customers to reduce coal quantities that they otherwise were obligated to purchase under contracts in exchange for payment of certain fees to the Company and did not impact forward contract terms.

Land holding and administrative costs increased primarily due to the acquisition of various coal leases and land holdings as a result of the Merger.

Interest Expense and Interest Income

On a consolidated basis, interest expense was $29 million for the nine months ended September 30, 2025, compared to $15 million for the nine months ended September 30, 2024. The $14 million increase in the period-to-period comparison was primarily due to interest incurred on the WVEDA Bonds, as well as interest incurred on additional equipment financing arrangements and increased fees associated with the Company's Revolving Credit Facility (as defined below) as a result of the January 2025 amendment.

Interest income increased $6 million in the period-to-period comparison primarily as a result of increased cash and cash equivalents.

Loss on Debt Extinguishment

Loss on debt extinguishment of $12 million was recognized in the nine months ended September 30, 2025 due to the amendment of the Company's Revolving Credit Facility and the refinancing of the Company's tax-exempt bonds. See Note 13 - Long-Term Debt in the Notes to the Consolidated Financial Statements in Item 1 of this Quarterly Report on Form 10-Q for additional information.

Non-Service Related Pension and Postretirement Benefit Costs

Non-service related pension and postretirement benefit costs increased $6 million in the period-to-period comparison, primarily due to the impact of changes in actuarial assumptions made at the beginning of each year and as a result of the Merger.

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Operational Performance: Nine Months Ended September 30, 2025 Compared with the Nine Months Ended September 30, 2024

The following table presents results by reportable segment:

	Nine Months Ended September 30,
	2025		2024		Variance
High CV Thermal Segment
Total Tons Produced (in millions)	22.9		19.3		3.6
Total Tons Sold (in millions)	22.7		18.7		4.0
Realized Coal Revenue per Ton Sold (1)	$	61.11	$	66.39	$	(5.28)
Cash Cost of Coal Sold per Ton (1)	$	40.84	$	38.43	$	2.41
Cash Margin per Ton Sold (1)	$	20.27	$	27.96	$	(7.69)
Adjusted EBITDA (in thousands) (1)	$	460,323	$	525,432	$	(65,109)
Metallurgical Segment
Total Tons Produced (in millions)	6.7		0.5		6.2
Total Tons Sold (in millions)	6.8		0.5		6.3
Realized Coal Revenue per Ton Sold (1)	$	101.32	$	155.99	$	(54.67)
Cash Cost of Coal Sold per Ton (1)	$	93.67	$	196.25	$	(102.58)
Cash Margin per Ton Sold (1)	$	7.65	$	(40.26)	$	47.91
Adjusted EBITDA (in thousands) (1)	$	(4,813)	$	(20,483)	$	15,670
PRB Segment
Total Tons Produced (in millions)	36.2		—		36.2
Total Tons Sold (in millions)	36.3		—		36.3
Realized Coal Revenue per Ton Sold (1)	$	14.54	$	—	$	14.54
Cash Cost of Coal Sold per Ton (1)	$	12.99	$	—	$	12.99
Cash Margin per Ton Sold (1)	$	1.55	$	—	$	1.55
Adjusted EBITDA (in thousands) (1)	$	56,448	$	—	$	56,448
Baltimore Marine Terminal Segment
Throughput Tons (in millions)	13.2		11.5		1.7
Adjusted EBITDA (in thousands) (1)	$	40,547	$	40,065	$	482

(1) Realized coal revenue per ton sold, cash cost of coal sold per ton and cash margin per ton sold are operating ratios derived from non-GAAP financial measures, and Adjusted EBITDA is a non-GAAP financial measure. See “How We Evaluate Our Operations - Reconciliation of Non-GAAP Financial Measures” above for definitions and reconciliations of these amounts to the most directly comparable GAAP measures.

HIGH CV THERMAL SEGMENT ANALYSIS:

Adjusted EBITDA decreased $65 million in the period-to-period comparison, primarily due to a $5.28 decrease in realized coal revenue per ton sold as international markets continued to soften, which weighed on Newcastle prices, coupled with weak demand in Europe, which weighed on API2 pricing. The reduced realization was partially offset by a 1.6 million ton increase in PAMC sales volumes year-over-year. Additionally, the West Elk mine was acquired in the Merger, which resulted in additional sales volumes of 2.4 million tons, realized coal revenue of $121 million and cash cost of coal sold of $133 million in the nine months ended September 30, 2025.

METALLURGICAL SEGMENT ANALYSIS:

All Metallurgical segment operations, except Itmann, were acquired in the Merger, resulting in additional sales volumes of 6.3 million tons, realized coal revenue of $621 million and cash cost of coal sold of $560 million in the nine months ended September 30, 2025. However, realized coal revenue per ton sold was significantly impacted by reduced metallurgical coal benchmark prices during the nine months ended September 30, 2025, which remained challenged due to

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surplus production within the industry and weak demand. In addition to lower realization, Adjusted EBITDA was also impacted by $76 million of costs incurred during the nine months ended September 30, 2025 related to the combustion incident at the Leer South mine, partially offset by $19 million of insurance reimbursements.

PRB SEGMENT ANALYSIS:

The PRB segment operations were acquired in the Merger, and as such, there was no activity during the nine months ended September 30, 2024. The PRB segment produced 36.2 million tons and sold 36.3 million tons in the nine months ended September 30, 2025. Adjusted EBITDA was $56 million during the nine months ended September 30, 2025.

BALTIMORE MARINE TERMINAL SEGMENT ANALYSIS:

Adjusted EBITDA for the nine months ended September 30, 2025 was $41 million, compared to $40 million for the nine months ended September 30, 2024. In 2024, throughput volumes and revenue from those volumes were interrupted until May 20, 2024 as a result of the Francis Scott Key Bridge collapse. Accordingly, throughput volumes at the Baltimore Marine Terminal were 13.2 million tons for the nine months ended September 30, 2025, compared to 11.5 million tons for the nine months ended September 30, 2024. Baltimore Marine Terminal revenue was $64 million for the nine months ended September 30, 2025, compared to $60 million for the nine months ended September 30, 2024.

Vessel access to, and export capability from, the Baltimore Marine Terminal was restricted on March 26, 2024 after the Francis Scott Key Bridge collapsed. Management worked diligently to minimize the disruption to our business and address direct and indirect impacts to the Company and its operations, including moving coal through an alternative port on the East Coast of the U.S., accelerating domestic shipments and managing ongoing expenditures. On May 20, 2024, a limited access channel in the Chesapeake Bay was opened to commercial vessel traffic and coal shipments to international markets resumed from the Baltimore Marine Terminal. The permanent 700-foot wide, 50-foot deep channel was restored and opened on June 10, 2024.

Liquidity and Capital Resources

The Company's potential sources of liquidity include cash generated from operations, cash on hand, borrowings under the Revolving Credit Facility and Receivables Financing Agreement (which are discussed and defined below) and, if necessary, the ability to issue equity or debt securities. The Company believes that cash generated from these sources, without needing to issue equity or debt securities, will be sufficient to meet its short-term working capital requirements, long-term capital expenditure requirements and debt servicing obligations, as well as to provide required letters of credit or surety bonds necessary for the Company's operations.

On January 14, 2025, the Company completed the Merger with Arch pursuant to the Merger Agreement. In connection with the Merger, the Company entered into an amendment to its existing Revolving Credit Facility. The amendment increased the available revolving commitments from $355 million to $600 million and extended the scheduled maturity date of the Revolving Credit Facility to April 30, 2029. Additionally, the Company reduced the interest rate margin by 75 basis points while further enhancing financial flexibility.

Our total liquidity as of September 30, 2025 was comprised of the following:

(in millions)	September 30, 2025
Cash and Cash Equivalents	$	445
Receivables Financing Agreement - Current Availability	220
Revolving Credit Facility - Current Availability	600
Less: Letters of Credit Outstanding	(270)
Total Liquidity	$	995

Events that negatively impact our operations, overall financial condition and liquidity could result in our inability to comply with the Revolving Credit Facility's financial covenants. This could limit our ability to borrow under the Revolving Credit Facility if we are unable to obtain necessary waivers or amendments. The Company expects to maintain adequate liquidity through its operating cash flow and cash and cash equivalents on hand, as well as the Revolving Credit Facility and its Receivables Financing Agreement, to fund its working capital needs and capital expenditures in the short-term and long-term.

Uncertainty in the financial markets, tariffs and executive actions by the executive branch of the U.S. Government and certain other foreign nations or sovereignties bring additional potential risks to the Company. These risks could impact

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our ability to raise capital in the equity and debt markets, or result in higher costs to obtain additional capital or credit as well as increase potential counterparty defaults. In addition, market disruptions and uncertainty, including as a result of potential tariffs and executive actions, high interest rates and sustained high inflation, may impact the Company's revenues and collection of trade receivables. The Company regularly monitors the creditworthiness of its customers and counterparties and manages credit exposure through payment terms, credit limits, prepayments and security.

The global landscape on rates and the scope of tariffs imposed on goods imported into and out of the U.S. from multiple countries around the world continues to evolve and be uncertain, as the U.S. Government continues to negotiate its position with multiple countries and across various industries and goods. While the evolving global trade landscape relating to tariffs and retaliatory trade measures imposed by other countries on U.S. goods have not yet had a significant impact on our business or results of operations as of September 30, 2025, these or additional changes in U.S. or international trade policy have increased uncertainty regarding the ultimate effect of the tariffs on economic conditions and could lead to further weakened business conditions for the coal industry.

Over the past few years, the insurance and surety markets have been increasingly challenging, particularly for coal companies. We have experienced rising premiums, reduced coverage and/or fewer providers willing to underwrite policies and surety bonds. Terms have generally become more unfavorable, including increases in the amount of collateral required to secure surety bonds. However, more recently, we have seen insurance rates stabilize and even decrease on certain lines of coverage, as new insurance carriers have entered the market. Further cost burdens on our ability to maintain adequate insurance and bond coverage may adversely impact our operations, financial position and liquidity.

At September 30, 2025, the Company had a $125 million fund in place that will cover, in part, future reclamation costs of the thermal assets in the PRB. Additionally, the Company maintains a $15 million Global Water Treatment Trust Fund that will fund future water treatment obligations in Pennsylvania, as well as replace surety bonds and related collateral requirements. The Company expects to contribute a minimum of $2 million per year to the Global Water Treatment Trust Fund. These amounts are included in Funds for Asset Retirement Obligations on the Consolidated Balance Sheets.

In December 2024, the Office of Workers' Compensation Programs (the “OWCP”) issued a final rule revising the regulations under the Black Lung Benefits Act related to self-insurance by coal mine operators. Under the new standard, self-insured coal mine operators are required to post additional security for the Black Lung benefit liabilities. The final rule requires a security amount equal to 100% of a self-insured operator's projected black lung liabilities. The rule became effective on January 13, 2025, and operators were required to remit the increased security amount within one year. The final rule, including any assessments, is subject to appeal. In February 2025, the Company received letters from the OWCP that additional guidance regarding the final rule will be provided at a future date.

The Company participates in the United Mine Workers of America (the “UMWA”) Combined Benefit Fund and the UMWA 1992 Benefit Plan for which benefits are reflected in the Company's consolidated financial statements when paid. These benefit arrangements may result in additional liabilities that are not recognized on the Consolidated Balance Sheet at September 30, 2025. The various multi-employer benefit plans are discussed in Note 17 - Other Employee Benefit Plans in the Notes to the Consolidated Financial Statements in Item 8 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The Company's total contributions under the Coal Industry Retiree Health Benefit Act of 1992 were $2 million for the nine months ended September 30, 2025 and 2024. The Company also uses a combination of surety bonds, corporate guarantees and letters of credit to secure its financial obligations for employee-related, environmental, performance and various other items that are not reflected on the Consolidated Balance Sheet at September 30, 2025. Management believes these items will expire without being funded. See Note 14 - Commitments and Contingent Liabilities in the Notes to the Consolidated Financial Statements included in Item 1 of this Quarterly Report on Form 10-Q for additional details of the various financial guarantees that have been issued by the Company.

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Cash Flows (in millions)

	Nine Months Ended September 30,
	2025		2024		Change
Net Cash Provided by Operating Activities	$	198	$	355	$	(157)
Net Cash Provided by (Used in) Investing Activities	$	132	$	(135)	$	266
Net Cash Used in Financing Activities	$	(166)	$	(94)	$	(72)

Net cash provided by operating activities decreased $157 million in the period-to-period comparison, primarily due to the payment of non-recurring Merger-related expenditures in the nine months ended September 30, 2025.

Net cash provided by (used in) investing activities changed by $266 million in the period-to-period comparison, primarily due to cash acquired via the Merger, partially offset by the purchase of Arch's tax-exempt bonds. The Company liquidated its remaining U.S. Treasury securities during the nine months ended September 30, 2025, resulting in net proceeds of $75 million. Capital expenditures increased $66 million primarily due to expenditures at the operations acquired in the Merger, partially offset by reduced equipment-related expenditures and rebuilds at the PAMC and Itmann during the nine months ended September 30, 2025.

Net cash used in financing activities increased $72 million in the period-to-period comparison. Cash outflows related to share repurchases totaled $203 million in the nine months ended September 30, 2025, compared to $71 million in the nine months ended September 30, 2024. In connection with the Merger, the Company successfully amended its Revolving Credit Facility, refinanced its tax-exempt bonds and amended the legacy Arch Securitization Facility. Proceeds of $114 million were received in connection with the bond refinancing, and fees associated with these transactions amounted to $20 million. Additionally, dividend payments increased $13 million period-over-period.

Revolving Credit Facility

In November 2017, the Company entered into a revolving credit facility with PNC Bank, N.A. (“PNC”) (the “Revolving Credit Facility”). The Revolving Credit Facility has been amended several times, the most recent of which occurred in January 2025 in connection with the Merger. The January 2025 amendment increased the available revolving commitments from $355 million to $600 million while extending the scheduled maturity date to April 30, 2029. Additionally, the Company reduced the applicable interest margin on its borrowings and letters of credit under the Revolving Credit Facility by 75 basis points.

Borrowings under the Revolving Credit Facility may be used for general corporate purposes, including working capital, capital expenditures and permitted acquisitions. Amounts repaid under the Revolving Credit Facility may be reborrowed, subject to satisfaction of the conditions to each credit extension. The Revolving Credit Facility provides that up to the full amount of the Revolving Credit Facility will be available for the issuance of letters of credit (the “Letters of Credit”) by each lender under the Revolving Credit Facility, including Arch letters of credit that are deemed to be issued under the Revolving Credit Facility. The Company may increase the revolving credit commitments on the same terms or incur term “A” loans in an aggregate amount of up to $150 million.

Borrowings under the Revolving Credit Facility bear interest at a floating rate that is, at the Company’s option, either (i) the applicable term Secured Overnight Financing Rate (“SOFR”) rate plus a SOFR adjustment of 0.10% plus an applicable margin or (ii) an alternate base rate plus an applicable margin. The applicable margin for the Revolving Credit Facility ranges from 3.00% to 3.75% (for SOFR loans) and 2.00% to 2.75% (for alternate base rate loans), depending on the total net leverage ratio.

The Company’s obligations under the Revolving Credit Facility are fully and unconditionally guaranteed by subsidiaries of the Company that own any portion of the Company’s Pennsylvania Mining Complex, its marine terminal at the Port of Baltimore and specified coal reserves and, subject to certain customary exceptions, all other existing or future direct or indirect wholly-owned material restricted subsidiaries of the Company, including subsidiaries acquired pursuant to the Merger. The obligations under the Revolving Credit Facility are secured by, subject to certain exceptions (including a limitation of pledges of equity interests in certain subsidiaries and certain thresholds with respect to real property), a first-priority lien on the Company's and certain subsidiaries' significant assets.

The Revolving Credit Facility contains a number of customary affirmative covenants and a number of negative covenants, including (subject to certain exceptions) limitations on (among other things): indebtedness, liens, investments, acquisitions, asset dispositions, restricted payments, mergers, consolidations, divisions and other fundamental changes, transactions with affiliates and prepayments of junior indebtedness. The Revolving Credit Facility will require prepayment

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of Revolving Credit Loans and/or Swing Loans if (x) Excess Balance Sheet Cash is greater than $125 million and (y) the sum of Revolving Credit Loans, Swing Loans and Letter of Credit Obligations (other than in respect of undrawn Letters of Credit) is greater than 25% of the Revolving Credit Commitments, in each case as of the last day of any calendar month.

The Revolving Credit Facility also includes financial covenants, including (i) a maximum first lien gross leverage ratio, (ii) a maximum total net leverage ratio, and (iii) a minimum interest coverage ratio. Under the Revolving Credit Facility, the maximum first lien gross leverage ratio is 1.50 to 1.00, the maximum total net leverage ratio is 2.50 to 1.00 and the minimum interest coverage ratio is 3.00 to 1.00. The Revolving Credit Facility contains customary events of default, including with respect to a failure to make payments when due, cross-default and cross-judgment default and certain bankruptcy and insolvency events.

The Company's first lien gross leverage ratio was 0.18 to 1.00 at September 30, 2025. The Company's total net leverage ratio was (0.04) to 1.00 at September 30, 2025. The Company's interest coverage ratio was 50.13 to 1.00 at September 30, 2025. The Company was in compliance with all covenants under the Revolving Credit Facility as of September 30, 2025.

At September 30, 2025, there were no borrowings outstanding under the Revolving Credit Facility and the facility is currently only used for providing letters of credit, with $79 million of letters of credit outstanding, leaving $521 million of unused capacity. From time to time, the Company is required to post financial assurances to satisfy contractual and other requirements generated in the normal course of business. Some of these assurances are posted to comply with federal, state or other government agencies' statutes and regulations. The Company sometimes uses letters of credit to satisfy these requirements, and these letters of credit reduce the Company's borrowing facility capacity.

Receivables Financing Agreement

At September 30, 2025, certain U.S. subsidiaries of Core Natural Resources, Inc. were parties to a trade accounts receivable securitization facility with financial institutions for the sale on a continuous basis of eligible trade accounts receivable. On July 28, 2025, the Company and certain of its subsidiaries entered into (i) that certain Receivables Financing Agreement (the “Receivables Financing Agreement”), by and among Core Receivable Company, LLC, as borrower (the “Borrower”), Core Sales, LLC, as the initial servicer (the “Servicer”), PNC Bank, National Association (“PNC”), as administrative agent and LC bank, PNC Capital Markets LLC (“PNC CM”), as structuring agent, and the lenders from time to time party thereto; (ii) that certain Third Amended and Restated Sale and Contribution Agreement (the “Sale and Contribution Agreement”), by and among the Borrower, the Servicer and Arch, as transferor; (iii) that certain Third Amended and Restated Purchase and Sale Agreement (the “Purchase and Sale Agreement”), by and among Arch, the Servicer and the originators party thereto; and (iv) that certain Fifth Amended and Restated Performance Guaranty (the “Performance Guaranty” and, together with the Receivables Financing Agreement, the Sale and Contribution Agreement and the Purchase and Sale Agreement, the “Receivables Documents”). With entry into the Receivables Documents, legacy Arch’s securitization facility was amended and restated in its entirety to, among other things, consolidate facilities and extend the maturity date to July 27, 2028, and legacy CONSOL’s securitization facility was terminated effective July 28, 2025.

Pursuant to the Receivables Financing Agreement, Core Sales, LLC; Mingo Logan Coal LLC; Mountain Coal Company, L.L.C.; ICG Beckley, LLC; ICG Tygart Valley, LLC; Wolf Run Mining LLC; Thunder Basin Coal Company, L.L.C.; CONSOL Pennsylvania Coal Company LLC; CONSOL Marine Terminals LLC; and Itmann Mining Company LP, all wholly-owned subsidiaries of the Company, sell and/or contribute trade receivables to Core Receivable Company, LLC, a special purpose vehicle and wholly-owned subsidiary of the Company (“Core Receivable”). Core Receivable, in turn, pledges its interests in the receivables to PNC and/or Regions Bank, which either make loans or issue letters of credit on behalf of Core Receivable. The maximum amount of advances and letters of credit outstanding under the Receivables Financing Agreement may not exceed $250 million.

Loans under the Receivables Financing Agreement accrue interest at a reserve-adjusted market index rate equal to the applicable term SOFR rate plus ten basis points. Loans and letters of credit under the Receivables Financing Agreement also accrue a drawn fee and a letter of credit participation fee, respectively, of 2.00% per annum. In connection with the Receivables Financing Agreement, the Borrower paid certain structuring fees to PNC CM and pays other customary fees to the lenders, including a fee on unused commitments equal to 0.60% per annum.

The Receivables Documents contain various customary representations and warranties, covenants and default provisions that provide for the termination and acceleration of the commitments and loans under the Receivables Financing Agreement in certain circumstances including, but not limited to, failure to make payments when due, breach of representation, warranty or covenant, certain insolvency events or failure to maintain the security interest in the trade receivables, and defaults under other material indebtedness. The Company guarantees the performance of the obligations of Mingo Logan Coal LLC; Mountain Coal Company, L.L.C.; ICG Beckley, LLC; ICG Tygart Valley, LLC; Wolf Run

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Mining LLC; Thunder Basin Coal Company, L.L.C.; CONSOL Pennsylvania Coal Company LLC; CONSOL Marine Terminals LLC; and Itmann Mining Company LP under the securitization, and will guarantee the obligations of any additional originators or successor servicer that may become party to the Receivables Financing Agreement. However, neither the Company nor its affiliates will guarantee collectability of receivables or the creditworthiness of obligors thereunder.

At September 30, 2025, eligible accounts receivable yielded $220 million of borrowing capacity. At September 30, 2025, the Receivables Financing Agreement had no outstanding borrowings and approximately $191 million of letters of credit outstanding, leaving $29 million of unused capacity. The Company has not derecognized any receivables due to its continued involvement in the collections efforts.

Series 2025 Bonds

On March 27, 2025, the Company borrowed the proceeds of tax-exempt bonds issued by (i) the Pennsylvania Economic Development Financing Authority (“PEDFA”) in the aggregate principal amount of $98 million (the “PEDFA Bonds”), at a fixed rate of 5.45% for an initial term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among Jefferies LLC, as the representative acting on behalf of itself, KeyBanc Capital Markets Inc., PNC CM, Goldman Sachs & Co. LLC, B. Riley Securities, Inc. and TCBI Securities, Inc. (collectively, the “Underwriters”), PEDFA and the Company; (ii) the Maryland Economic Development Corporation (“MEDCO”) in the aggregate principal amount of $103 million (the “MEDCO Bonds”), at a fixed rate of 5.00% for an initial term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among the Underwriters, MEDCO and the Company; and (iii) the West Virginia Economic Development Authority (“WVEDA”) in the aggregate principal amount of $106 million (the “WVEDA Bonds” and together with the PEDFA Bonds and the MEDCO Bonds, the “Bonds”), at a fixed rate of 5.45% for an initial term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among the Underwriters, WVEDA and the Company.

The Company used (i) a portion of the proceeds of the PEDFA Bonds to finance and refinance the costs of acquisition, construction, improvement, installation and equipping of certain solid waste disposal facilities located at the Central Preparation Plant in West Finley, Pennsylvania in part by refunding in full PEDFA’s outstanding $75 million Solid Waste Disposal Revenue Bonds, Series 2021A (CONSOL Energy Inc. Project), (ii) the proceeds from the MEDCO Bonds to refinance the costs of acquisition, construction, improvement, installation and equipping of certain improvements, modifications and additions to a coal transshipment terminal located in the Canton area of the Port of Baltimore by refunding in full MEDCO’s outstanding $103 million Port Facilities Refunding Revenue Bonds (CNX Marine Terminals Inc. Port of Baltimore Facility) Series 2010 and (iii) a portion of the proceeds of the WVEDA Bonds to finance and refinance the costs of acquisition, construction, improvement, installation and equipping of certain solid waste disposal facilities relating to a longwall coal mining complex known as the Leer South Mine located in Barbour County, West Virginia in part by refunding in full WVEDA’s outstanding $53 million Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2020 and $45 million Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2021.

The (i) PEDFA Bonds were issued pursuant to an indenture (the “PEDFA Indenture”), dated March 1, 2025, by and between PEDFA and Wilmington Trust, National Association, as trustee (the “Trustee”), and PEDFA made a loan of the proceeds of the PEDFA Bonds to the Company pursuant to a Loan Agreement, dated March 1, 2025 (the “PEDFA Loan Agreement”), between PEDFA and the Company; (ii) MEDCO Bonds were issued pursuant to an indenture (the “MEDCO Indenture”), dated March 1, 2025, by and between MEDCO and the Trustee, and MEDCO made a loan of the proceeds of the MEDCO Bonds to the Company pursuant to a Loan Agreement, dated March 1, 2025 (the “MEDCO Loan Agreement”), between MEDCO and the Company; and (iii) WVEDA Bonds were issued pursuant to an indenture (the “WVEDA Indenture” and together with the PEDFA Indenture and the MEDCO Indenture, the “Indentures”), dated March 1, 2025, by and between WVEDA and the Trustee, and WVEDA made a loan of the proceeds of the WVEDA Bonds to the Company pursuant to a Loan Agreement, dated as of March 1, 2025 (the “WVEDA Loan Agreement” and together with the PEDFA Loan Agreement and MEDCO Loan Agreement, the “Loan Agreements”), between WVEDA and the Company. Under the terms of the Loan Agreements, the Company agreed to make all payments of principal, interest and other amounts at any time due on the respective Bonds or under the respective Indenture.

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Material Cash Requirements

The Company expects to make the following payments in the next 12 months:

•$106 million on its long-term debt and operating and finance lease obligations, including interest;

•$72 million on its employee-related long-term liabilities, including obligations that the Company has under multi-employer plans; and

•$84 million on its environmental obligations and $163 million on its other current liabilities.

The Company believes it will be able to satisfy these material requirements with cash generated from operations, cash on hand, borrowings under the Revolving Credit Facility and Receivables Financing Agreement and, if necessary, cash generated from its ability to issue equity or debt securities.

Debt

At September 30, 2025, the Company had total long-term debt and finance lease obligations of $425 million outstanding, including the current portion of $84 million. This long-term debt consisted of:

•An aggregate principal amount of $106 million of WVEDA Bonds, which were issued to finance a coal refuse disposal area at the Leer South mine, bear interest at 5.45% per annum for an initial term of ten years and mature in January 2055. Interest on the WVEDA Bonds is payable on April 1 and October 1 of each year.

•An aggregate principal amount of $103 million of MEDCO Bonds, which were issued to finance the Baltimore Marine Terminal, bear interest at 5.00% per annum for an initial term of ten years and mature in July 2048. Interest on the MEDCO Bonds is payable on February 1 and August 1 of each year.

•An aggregate principal amount of $98 million of PEDFA Bonds, which were issued to finance the ongoing expansion of the coal refuse disposal area at the Central Preparation Plant, bear interest at 5.45% per annum for an initial term of ten years and mature in January 2051. Interest on the PEDFA Bonds is payable on June 1 and December 1 of each year.

•An aggregate principal amount of $73 million of various equipment financing arrangements with a weighted-average interest rate of 7.56%.

•An aggregate principal amount of $34 million of finance leases with a weighted-average interest rate of 6.77%.

•Advanced royalty commitments of $6 million with a weighted-average interest rate of 8.10% per annum.

•An aggregate principal amount of $5 million of other debt arrangements.

At September 30, 2025, the Company had no borrowings outstanding and approximately $79 million of letters of credit outstanding under the $600 million Revolving Credit Facility. At September 30, 2025, the Company had no borrowings outstanding and approximately $191 million of letters of credit outstanding under the $250 million Receivables Financing Agreement.

Stock Repurchases

On February 18, 2025, the Company's Board of Directors approved a capital return framework that involves a mix of dividends and share repurchases. The repurchase program permits the repurchase, from time to time, of the Company's outstanding shares of common stock in an aggregate amount of up to $1 billion, subject to certain covenants in the Revolving Credit Facility and the agreements relating to the Series 2025 Bonds that limit the Company's ability to repurchase shares of its common stock.

During the nine months ended September 30, 2025, the Company repurchased and retired 2,824,033 shares of the Company's common stock at an average price of $71.74 per share.

Total Equity and Dividends

Total equity attributable to the Company was $3,779 million at September 30, 2025 and $1,568 million at December 31, 2024. See the Consolidated Statements of Stockholders' Equity in Item 1 of this Quarterly Report on Form 10-Q for additional details.

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The declaration and payment of dividends by the Company is at the discretion of the Company's Board of Directors. The Revolving Credit Facility and the agreements relating to the Series 2025 Bonds include certain covenants limiting the Company's ability to declare and pay dividends.

On November 6, 2025, the Company announced a $0.10 per share dividend in an aggregate amount of approximately $5.1 million, payable on December 15, 2025 to all stockholders of record as of November 28, 2025.

Critical Accounting Estimates

The Company prepares its financial statements in accordance with accounting principles generally accepted in the U.S. The preparation of these financial statements requires management to make judgments, estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses, as well as the disclosure of contingent assets and liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. There have been no material changes to the Company's critical accounting estimates from the Annual Report on Form 10-K for the year ended December 31, 2024, except as set forth below.

Business Combinations

The Company accounts for business combinations using the acquisition method of accounting, which requires that once control is obtained, all the assets acquired and liabilities assumed are recorded at their respective fair values at the date of acquisition. The determination of fair values of identifiable assets and liabilities requires estimates and the use of valuation techniques when fair value is not readily available and requires a significant amount of management judgment. Although the Company believes its estimates of fair values are reasonable, actual financial results could differ from those estimates due to the inherent uncertainty involved in making such estimates. Changes in assumptions concerning future financial results or other underlying assumptions could have a significant impact on the determination of fair value of the assets acquired in the Merger. During the measurement period (a period not to exceed 12 months from the closing date of the Merger), the Company may record adjustments to the assets acquired and liabilities assumed due to the use of preliminary information in its initial estimates. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings.

Forward-Looking Statements

Certain statements in this Quarterly Report on Form 10-Q are “forward-looking statements” within the meaning of the federal securities laws. With the exception of historical matters, the matters discussed in this Quarterly Report on Form 10-Q are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) that involve risks and uncertainties that could cause actual results and outcomes to differ materially from results expressed in or implied by our forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income and capital spending. When we use the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” “would,” or their negatives, or other similar expressions, the statements that include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this Quarterly Report on Form 10-Q speak only as of the date of this Quarterly Report on Form 10-Q; we disclaim any obligation to update these statements unless required by securities law, and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks, contingencies and uncertainties relate to, among other matters, the following:

•risks related to the prior occurrence of combustion-related activity at Core's Leer South mine and the risk of future occurrences; the increase in combustion-related gases at Core's Leer South mine; and Core's ability to resume development work at Leer South with continuous miners and longwall development in accordance with its expected timing;

•the U.S. Government shutdown and our ability to resume operations at the Leer South mine;

•deterioration in economic conditions (including continued inflation) or changes in consumption patterns of our customers may decrease demand for our products, impair our ability to collect customer receivables and impair our ability to access capital;

•volatility and wide fluctuation in coal prices based upon a number of factors beyond our control;

•an extended decline in the prices we receive for our coal affecting our operating results and cash flows;

•significant downtime of our equipment or inability to obtain equipment, parts or raw materials;

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•decreases in the availability of, or increases in the price of, commodities or capital equipment used in our coal mining operations;

•our reliance on major customers, our ability to collect payment from our customers and uncertainty in connection with our customer contracts;

•our inability to acquire additional coal reserves or resources that are economically recoverable;

•alternative steel production technologies that may reduce demand for our coal;

•the availability and reliability of transportation facilities and other systems that deliver our coal to market and fluctuations in transportation costs;

•a loss of our competitive position;

•foreign currency fluctuations that could adversely affect the competitiveness of our coal abroad;

•the risks related to the fact that a significant portion of our production is sold in international markets (and may grow) and our compliance with export control and anti-corruption laws;

•coal users switching to other fuels in order to comply with various environmental standards related to coal combustion emissions;

•the impact of current and future regulations to address climate change, the discharge, disposal and clean-up of hazardous substances and wastes and employee health and safety on our operating costs as well as on the market for coal;

•the risks inherent in coal operations, including being subject to unexpected disruptions caused by adverse geological conditions, equipment failure, delays in moving out longwall equipment, railroad derailments, security breaches or terroristic acts and other hazards, delays in the completion of significant construction or repair of equipment, fires, explosions, seismic activities, accidents and weather conditions;

•our inability to manage our operational footprint in response to changes in demand;

•failure to obtain or renew surety bonds or insurance coverages on acceptable terms;

•the effects of coordinating our operations with oil and natural gas drillers and distributors operating on our land;

•our inability to obtain financing for capital expenditures on satisfactory terms;

•the effects of our securities being excluded from certain investment funds as a result of ESG practices;

•the effects of global conflicts on commodity prices and supply chains;

•the effect of new or existing laws, regulations, tariffs, executive orders or other trade measures;

•our inability to find suitable joint venture partners or acquisition targets or integrating the operations of future acquisitions into our operations;

•obtaining, maintaining and renewing governmental permits and approvals for our coal operations;

•the effects of asset retirement obligations, employee-related long-term liabilities and certain other liabilities;

•uncertainties in estimating our economically recoverable coal reserves;

•defects in our chain of title for our undeveloped reserves or failure to acquire additional property to perfect our title to coal rights;

•the outcomes of various legal proceedings, including those that are more fully described herein;

•the risk of our debt agreements, our debt and changes in interest rates affecting our operating results and cash flows;

•information theft, data corruption, operational disruption and/or financial loss resulting from a terrorist attack or cyber incident;

•the potential failure to retain and attract qualified personnel of the Company;

•failure to maintain effective internal control over financial reporting;

•uncertainty with respect to the Company’s common stock, potential stock price volatility and future dilution;

•uncertainty regarding the timing and value of any dividends we may declare;

•uncertainty as to whether we will repurchase shares of our common stock;

•inability of stockholders to bring legal action against us in any forum other than the state courts of Delaware;

•the risk that the businesses of the Company and Arch will not be integrated successfully;

•the risk that the anticipated benefits of the Merger may not be realized or may take longer to realize than expected;

•the risks related to new or existing tariffs and other trade measures; and

•other unforeseen factors.

The above list of factors is not exhaustive nor necessarily in order of importance. Additional information concerning factors that could cause actual results to differ materially from those in forward-looking statements include those discussed under “Risk Factors” elsewhere in this report and the other filings we make with the Securities and Exchange Commission (“SEC”). The Company disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Company's exposures to market risk have not materially changed since December 31, 2024. Please see these quantitative and qualitative disclosures about market risk in Item 7A, “Quantitative and Qualitative Disclosures About Market Risk,” of our Annual Report on Form 10-K for the year ended December 31, 2024.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

Core Natural Resources, under the supervision and with the participation of its management, including Core's principal executive officer and principal financial officer, evaluated the effectiveness of the Company's “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) under the Exchange Act, as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on that evaluation, Core Natural Resources' principal executive officer and principal financial officer have concluded that the Company's disclosure controls and procedures were effective as of September 30, 2025 to ensure that information required to be disclosed by Core Natural Resources in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and includes controls and procedures designed to ensure that information required to be disclosed by Core Natural Resources in such reports is accumulated and communicated to Core's management, including Core's principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting

Under SEC guidelines, companies are permitted to exclude acquisitions from their assessment of internal control over financial reporting during the first year following an acquisition while integrating the acquired company. During the first quarter of 2025, we completed the Merger and began integrating the acquired assets into our internal control over financial reporting. We have excluded the acquired operations of Arch from our assessment of the Company's internal control over financial reporting but will continue to evaluate and monitor our internal control over financial reporting and will continue to evaluate the operating effectiveness of related key controls. Arch constituted approximately 51% and 49% of total revenues for the three and nine months ended September 30, 2025, respectively, and approximately 55% of total assets as of September 30, 2025.

Except as noted above, there were no changes in the Company's internal control over financial reporting, as such term is defined in Rule 13a-15(f) of the Exchange Act, that occurred during the third quarter of 2025 that materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

It should be noted that any system of controls, however well designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the system will be met. In addition, the design of any control system is based in part upon certain assumptions about the likelihood of future events.

PART II: OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Our operations are subject to a variety of risks and disputes normally incidental to our business. As a result, we may, at any given time, be a defendant in various legal proceedings and litigation arising in the ordinary course of business. However, we are not currently subject to any material litigation, except as disclosed in Note 14 - Commitments and Contingent Liabilities in the Notes to the Consolidated Financial Statements in Part 1, Item 1 of this Quarterly Report on Form 10-Q, incorporated herein by this reference.

ITEM 1A. RISK FACTORS

In addition to the other information set forth in this quarterly report, including the risk factors set forth below, you should carefully consider the factors described in “Part 1 - Item 1A. Risk Factors” of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as updated by any subsequent Quarterly Reports on Form 10-Q. These described risks are not the only risks the Company faces. Additional risks and uncertainties not currently known to Core or that the Company currently deems to be immaterial also may materially adversely affect Core's business, results of operations, financial condition and cash flows.

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The U.S. Government shutdown could delay our ability to resume operations at the Leer South mine, which could have a material adverse impact on our results of operations, financial condition and cash flows.

The Company has continued to work closely with federal and state officials on a plan to recover and reposition the longwall equipment at the Leer South mine and is currently waiting on approval of the plan by the federal Mine Safety and Health Administration. Due to the U.S. Government shutdown, approval by the Mine Safety and Health Administration has been delayed, and the timing of such approval is unclear. Our inability to resume operations at the Leer South mine as we anticipated could have a material adverse impact on our results of operations, financial condition and cash flows.

New or existing tariffs and other trade measures could adversely affect our business, results of operations, financial condition and cash flows.

New or existing tariffs and other trade measures could adversely affect our business, results of operations, financial condition and cash flows, either directly or indirectly through various adverse impacts on our significant customers. During the last several years, the U.S. Government imposed tariffs on steel and aluminum and a broad range of other products imported into the U.S. In response to the tariffs imposed by the U.S., the European Union, Canada, Mexico and China have announced tariffs on U.S. goods and services. These actions are unprecedented and have caused substantial uncertainty and volatility in financial markets. These tariffs, along with any additional tariffs or trade restrictions that may be implemented by the U.S. or retaliatory trade measures or tariffs implemented by other countries, could result in reduced economic activity, increased costs in operating our business, reduced demand and changes in purchasing behaviors for thermal and metallurgical coal, limits on trade with the U.S. or other potentially adverse economic outcomes. Changes in tariffs and trade restrictions can be announced with little or no advance notice. The adoption and expansion of tariffs or other trade restrictions, increasing trade tensions, or other changes in governmental policies related to taxes, tariffs, trade agreements or policies, are difficult to predict, which makes attendant risks difficult to anticipate and mitigate. If we are unable to navigate further changes in U.S. or international trade policy, it could have a material adverse impact on our business and results of operations. Additionally, we sell coal into the export thermal market and the export metallurgical market. Accordingly, our international sales may also be impacted by the tariffs and other restrictions on trade between the U.S. and other countries. We cannot predict further developments, and such existing or future tariffs could have a material adverse effect on our business, results of operations, financial condition and cash flows.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table sets forth repurchases of the Company's common stock during the three months ended September 30, 2025:

	(a)	(b)		(c)	(d)
Period	Total Number of Shares Purchased (1)	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs (000s omitted) (2)
July 1, 2025 - July 31, 2025	12,652	$	66.48	12,652	$	816,007	(3)
August 1, 2025 - August 31, 2025	196,138	$	71.87	196,138	$	801,911	(3)
September 1, 2025 - September 30, 2025	62,044	$	72.55	62,044	$	797,409	(3)
Total	270,834	$	71.77	270,834

(1) On February 18, 2025, the Company's Board of Directors approved a capital return framework that involves a mix of dividends and share repurchases. The repurchase program permits the repurchase, from time to time, of the Company's outstanding shares of common stock in an aggregate amount of up to $1 billion, subject to certain covenants in the Revolving Credit Facility and the agreements relating to the Series 2025 Bonds that limit the Company's ability to repurchase shares of its common stock. As of November 6, 2025, approximately $797 million remained available under the stock repurchase program. The repurchases will be effected from time to time on the open market, in privately negotiated transactions or under a Rule 10b5-1 plan. The program does not obligate the Company to acquire any particular amount of its common stock, and the program can be modified or suspended at any time at the Company's discretion.

(2) Management cannot estimate the number of shares that will be repurchased because purchases are made based upon the Company's stock price, the Company's financial outlook and alternative investment options.

(3) In the three months ended September 30, 2025, the Company utilized approximately $19 million to repurchase shares of its common stock.

Dividends

The declaration and payment of dividends by the Company is at the discretion of the Company's Board of Directors, and no assurance can be given that the Company will pay dividends in the future. The determination to pay dividends in the

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future will depend upon, among other things, general business conditions, the Company's financial results, contractual and legal restrictions regarding the payment of dividends by the Company, planned investments by the Company and such other factors as the Board of Directors deems relevant. The Revolving Credit Facility and the Series 2025 Bonds include certain covenants limiting the Company's ability to declare and pay dividends.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

The information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K (17 CFR 229.104) is included in Exhibit 95 to this Quarterly Report on Form 10-Q.

ITEM 5. OTHER INFORMATION

Rule 10b5-1 Trading Plans

Our executive officers and directors may from time to time enter into plans or arrangements for the purchase or sale of our Common Stock that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. During the three months ended September 30, 2025, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” (as defined in Item 408(a) of Regulation S-K) or “non-Rule 10b5-1 trading arrangement” (as defined in Item 408(c) of Regulation S-K).

ITEM 6. EXHIBITS

Exhibits	Description	Method of Filing
2.1	Separation and Distribution Agreement, dated as of November 28, 2017, by and between the Company and CNX	Filed as Exhibit 2.1 to Form 8-K (File No. 001-38147) filed on December 4, 2017
2.2	Tax Matters Agreement, dated as of November 28, 2017, by and between the Company and CNX	Filed as Exhibit 2.2 to Form 8-K (File No. 001-38147) filed on December 4, 2017
2.3	Employee Matters Agreement, dated as of November 28, 2017, by and between the Company and CNX	Filed as Exhibit 2.3 to Form 8-K (File No. 001-38147) filed on December 4, 2017
2.4	Intellectual Property Matters Agreement, dated as of November 28, 2017, by and between the Company and CNX	Filed as Exhibit 2.4 to Form 8-K (File No. 001-38147) filed on December 4, 2017
2.5**	Agreement and Plan of Merger, dated as of October 22, 2020, by and among CONSOL Energy Inc., Transformer LP Holdings Inc., Transformer Merger Sub LLC, CONSOL Coal Resources LP and CONSOL Coal Resources GP LLC	Filed as Exhibit 2.1 to Form 8-K (File No. 001-38147) filed on October 23, 2020
2.6	Agreement and Plan of Merger, dated August 20, 2024, among CONSOL Energy Inc., Mountain Range Merger Sub Inc. and Arch#	Filed as Exhibit 2.1 to Form 8-K (File No. 001-38147) filed on August 21, 2024
2.7	Debtors' Fourth Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code	Filed as Exhibit 2.1 to Arch's Form 8-K (File No. 001-13105) filed on September 15, 2016
2.8	Order Confirming Debtors' Fourth Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code on September 13, 2016	Filed as Exhibit 2.2 to Arch's Form 8-K (File No. 001-13105) filed on September 15, 2016
3.1	Amended and Restated Certificate of Incorporation of the Company	Filed as Exhibit 3.1 to Form 8-K (File No. 001-38147) filed on December 4, 2017
3.2	Certificate of Amendment to Amended and Restated Certificate of Incorporation of the Company	Filed as Exhibit 3.1 to Form 8-K (File No. 001-38147) filed on May 8, 2020

55

Exhibits	Description	Method of Filing
3.3	Second Certificate of Amendment to Amended and Restated Certificate of Incorporation of the Company	Filed as Exhibit 3.1 to Form 8-K (File No. 001-38147) filed on May 6, 2024
3.4	Certificate of Amendment to Amended and Restated Certificate of Incorporation of the Company	Filed as Exhibit 3.1 to Form 8-K (File No. 001-38147) filed on January 15, 2025
3.5	Fourth Amended and Restated Bylaws of the Company	Filed as Exhibit 3.2 to Form 8-K (File No. 001-38147) filed on January 15, 2025
4.1	Indenture dated as of November 13, 2017 by and between CONSOL Energy Inc. (formerly known as CONSOL Mining Corporation) and UMB Bank, N.A., as Trustee and Collateral Trustee (including form of supplemental indenture on subsidiary guarantors).	Filed as Exhibit 4.1 to Form 8-K (File No. 001-38147) filed on November 15, 2017
4.2	Description of Capital Stock	Filed as Exhibit 4.2 to Form 10-K (File No. 001-38147) filed on February 20, 2025
10.1	Transition Services Agreement, dated as of November 28, 2017, by and between the Company and CNX	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on December 4, 2017
10.2	CNX Resources Corporation to CONSOL Energy Inc. Trademark License Agreement dated as of November 28, 2017, by and between the Company and CNX	Filed as Exhibit 10.2 to Form 8-K (File No. 001-38147) filed on December 4, 2017
10.3	CONSOL Energy Inc. to CNX Resources Corporation Trademark License Agreement, dated as of November 28, 2017, by and between the Company and CNX	Filed as Exhibit 10.3 to Form 8-K (File No. 001-38147) filed on December 4, 2017
10.4	First Amendment to Contract Agency Agreement, dated as of November 28, 2017, by and among CONSOL Energy Sales Company, CONSOL Thermal Holdings LLC (formerly known as CNX Thermal Holdings LLC) and the other parties thereto	Filed as Exhibit 10.5 to Form 8-K (File No. 001-38147) filed on December 4, 2017
10.5	First Amendment to Water Supply and Services Agreement, dated as of November 28, 2017 by and between CNX Water Assets LLC and CONSOL Thermal Holdings LLC (formerly known as CNX Thermal Holdings LLC)	Filed as Exhibit 10.6 to Form 8-K (File No. 001-38147) filed on December 4, 2017
10.6	Second Amendment to the Pennsylvania Mine Complex Operating Agreement, dated as of November 28, 2017, by and among CONSOL Pennsylvania Coal Company LLC, Conrhein Coal Company, CONSOL Thermal Holdings LLC and CONSOL Coal Resources LP	Filed as Exhibit 10.7 to Form 8-K (File No. 001-38147) filed on December 4, 2017
10.7	Credit Agreement, dated as of November 28, 2017, by and among the Company, the various financial institutions from time to time party thereto, PNC, as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC, as collateral agent for the Lenders and the other Secured Parties referred to therein#	Filed as Exhibit 10.8 to Form 8-K (File No. 001-38147) filed on December 4, 2017
10.8	Amendment No. 1, dated as of March 28, 2019, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC, as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC, as collateral agent for the Lenders and the Other Secured Parties referred to therein#	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on April 3, 2019

56

Exhibits	Description	Method of Filing
10.9	Amendment No. 2, dated as of June 5, 2020, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC, as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC, as collateral agent for the Lenders and the Other Secured Parties referred to therein#	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on June 11, 2020
10.10	Amendment No. 3, dated as of March 29, 2021, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC, as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC, as collateral agent for the Lenders and the Other Secured Parties referred to therein#	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on March 31, 2021
10.11	Amendment No. 4, dated as of July 18, 2022, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC, as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC, as collateral agent for the Lenders and the Other Secured Parties referred to therein#	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on July 25, 2022
10.12	Amendment No. 5, dated as of June 12, 2023, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC, as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC, as collateral agent for the Lenders and the Other Secured Parties referred to therein#	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on June 13, 2023
10.13	Amendment No. 6, dated as of January 14, 2025, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC, as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC, as collateral agent for the Lenders and the Other Secured Parties referred to therein#	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on January 15, 2025
10.14	CONSOL Energy Inc. Omnibus Performance Incentive Plan*	Filed as Exhibit 4.3 to Form S-8 (File No. 333-221727) filed on November 22, 2017
10.15	Second Amendment and Restatement of Master Cooperation and Safety Agreement by and among CONSOL Energy Inc., CNX Gas Company LLC, CNX Resources Holdings LLC and certain other parties thereto	Filed as Exhibit 10.5 to Form 10-12B/A (File No. 001-38147) filed on October 27, 2017
10.16	Coal Lease Agreement dated as of March 31, 1992, among Allegheny Land Company, as lessee, and UAC and Phoenix Coal Corporation, as lessors, and related guarantee	Filed by Ashland Coal, Inc. on Form 8-K on April 6, 1992
10.17	Federal Coal Lease dated as of January 24, 1996 between the U.S. Department of the Interior and the Thunder Basin Coal Company	Filed as Exhibit 10.20 to Arch's Form 10-K (File No. 001-13105) for the year ended December 31, 1998 filed on March 2, 1999
10.18	Federal Coal Lease dated as of November 1, 1967 between the U.S. Department of the Interior and the Thunder Basin Coal Company	Filed as Exhibit 10.21 to Arch's Form 10-K (File No. 001-13105) for the year ended December 31, 1998 filed on March 2, 1999

57

Exhibits	Description	Method of Filing
10.19	Federal Coal Lease effective as of June 9, 1995 between the U.S. Department of the Interior and Mountain Coal Company	Filed as Exhibit 10.22 to Arch's' Form 10-K (File No. 001-13105) for the year ended December 31, 1998 filed on March 2, 1999
10.20	Federal Coal Lease dated as of January 1, 1999 between the U.S. Department of the Interior and Ark Land Company	Filed as Exhibit 10.23 to Arch's Form 10-K (File No. 001-13105) for the year ended December 31, 1998 filed on March 2, 1999
10.21	Federal Coal Lease effective as of March 1, 2005 by and between the United States of America and Ark Land LT, Inc. covering the tract of land known as “Little Thunder” in Campbell County, Wyoming	Filed as Exhibit 99.1 to Arch's Form 8-K (File No. 001-13105) filed on February 10, 2005
10.22	Modified Coal Lease (WYW71692) executed January 1, 2003 by and between the United States of America, through the Bureau of Land Management, as lessor, and Triton Coal Company, LLC, as lessee, covering a tract of land known as “North Rochelle” in Campbell County, Wyoming	Filed as Exhibit 10.24 to Arch's Form 10-K (File No. 001-13105) for the year ended December 31, 2004 filed on March 11, 2005
10.23	Coal Lease (WYW127221) executed January 1, 1998 by and between the United States of America, through the Bureau of Land Management, as lessor, and Triton Coal Company, LLC, as lessee, covering a tract of land known as “North Roundup” in Campbell County, Wyoming	Filed as Exhibit 10.25 to Arch's Form 10-K (File No. 001-13105) for the year ended December 31, 2004 filed on March 11, 2005
10.24	CONSOL Energy Inc. Deferred Compensation Plan for Non-Employee Directors*	Filed as Exhibit 10.2 to Form 10-Q (File No. 001-38147) filed on November 1, 2018
10.25	Employment Agreement of James A. Brock*	Filed as Exhibit 10.1 to Form 10-Q (File No. 001-38147) filed on May 3, 2018
10.26	Change in Control Severance Agreement for Martha A. Wiegand*	Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on May 3, 2018
10.27	Change in Control Severance Agreement for Kurt Salvatori*	Filed as Exhibit 10.5 to Form 10-Q (File No. 001-38147) filed on May 3, 2018
10.28	Change in Control Severance Agreement for John Rothka*	Filed as Exhibit 10.6 to Form 10-Q (File No. 001-38147) filed on May 3, 2018
10.29	Form of Employment Agreement for Executive Officers of Arch and assumed by Core*	Filed as Exhibit 10.4 of Arch's Form 10-K (File No. 001-13105) for the year ended December 31, 2011 filed on February 29, 2012
10.30	Form Notice of Restricted Stock Unit Award and Terms and Conditions*	Filed as Exhibit 10.7 to Form 10-Q (File No. 001-38147) filed on May 3, 2018
10.31	Form Notice of Performance-based Restricted Stock Unit Award and Terms and Conditions*	Filed as Exhibit 10.8 to Form 10-Q (File No. 001-38147) filed on May 3, 2018
10.32	Form Notice of Restricted Stock Unit Award and Terms and Conditions for Spin Recognition (Non-Employee Director)*	Filed as Exhibit 10.9 to Form 10-Q (File No. 001-38147) filed on May 3, 2018
10.33	Form Notice of Restricted Stock Unit Award and Terms and Conditions for Spin Recognition*	Filed as Exhibit 10.10 to Form 10-Q (File No. 001-38147) filed on May 3, 2018

58

Exhibits	Description	Method of Filing
10.34	Form Notice of Restricted Stock Unit Award and Terms and Conditions*	Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on May 8, 2019
10.35	Form Notice of Performance-based Restricted Stock Unit Award and Terms and Conditions*	Filed as Exhibit 10.5 to Form 10-Q (File No. 001-38147) filed on May 8, 2019
10.36	Change in Control Severance Agreement for Miteshkumar Thakkar*	Filed as Exhibit 10.30 to Form 10-K (File No. 001-38147) filed on February 11, 2022
10.37	Form of Notice of Restricted Stock Unit Award Terms and Conditions*	Filed as Exhibit 10.3 to Form 10-Q (File No. 001-38147) filed on May 11, 2020
10.38	Form of Notice of Performance-Based Restricted Stock Unit Award Terms and Conditions for James A. Brock*#	Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on May 11, 2020
10.39	Form of Notice of Performance-Based Cash Award*#	Filed as Exhibit 10.5 to Form 10-Q (File No. 001-38147) filed on May 11, 2020
10.40	CONSOL Energy Inc. 2020 Amended and Restated Omnibus Performance Incentive Plan*	Filed as Exhibit 4.4 to Registration Statement on Form S-8 (file No. 333-238173) filed on May 11, 2020
10.41	Form of Notice of Restricted Stock Unit Award Terms and Conditions for Non-Employee Directors*	Filed as Exhibit 10.5 to Form 10-Q (File No. 001-38147) filed on August 10, 2020
10.42	Form Notice of Performance-based Cash Award and Terms and Conditions*	Filed as Exhibit 10.2 to Form 10-Q (File No. 001-38147) filed on May 4, 2021
10.43	Form Notice of Performance-based Market Share Units Award and Terms and Conditions*	Filed as Exhibit 10.3 to Form 10-Q (File No. 001-38147) filed on May 4, 2021
10.44	Form of Notice of Restricted Stock Unit Award Terms and Conditions for Non-Employee Directors*	Filed as Exhibit 10.1 to Form 10-Q (File No. 001-38147) filed on August 3, 2021
10.45	Support Agreement, dated as of October 22, 2020, by and among CONSOL Energy Inc. and CONSOL Coal Resources LP	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on October 23, 2020
10.46	Amendment to CONSOL Energy Inc. 2020 Amended and Restated Omnibus Performance Incentive Plan, effective as of December 30, 2020 (incorporated by reference to Exhibit 4.5 to the Company's Registration Statement on Form S-8 filed on December 31, 2020)	Filed as Exhibit 4.5 to Form S-8 (File No. 001-38147) filed on December 31, 2020
10.47	First Amendment to Employment Agreement of James A. Brock*	Filed as Exhibit 10.45 to Form 10-K (File No. 001-38147) filed on February 12, 2021
10.48	Second Amendment to Employment Agreement of James A. Brock*	Filed as Exhibit 10.44 to Form 10-K (File No. 001-38147) filed on February 11, 2022
10.49	Form of Notice of Restricted Stock Unit Award Terms and Conditions for Non-Employee Directors*	Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on August 4, 2022
10.50	Form Notice of Performance Based Cash Award and Terms and Conditions*	Filed as Exhibit 10.2 to Form 10-Q (File No. 001-38147) filed on May 3, 2022

59

Exhibits	Description	Method of Filing
10.51	Form Notice of Restricted Stock Unit Award and Terms and Conditions*	Filed as Exhibit 10.3 to Form 10-Q (File No. 001-38147) filed on May 3, 2022
10.52	2022 Executive Short-Term Incentive Program Terms and Conditions*	Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on May 3, 2022
10.53	Third Amendment to Employment Agreement of James A. Brock*	Filed as Exhibit 10.52 to Form 10-K (File No. 001-38147) filed on February 10, 2023
10.54	Change in Control Severance Agreement for Miteshkumar Thakkar*	Filed as Exhibit 10.53 to Form 10-K (File No. 001-38147) filed on February 10, 2023
10.55	Form Notice of Restricted Stock Unit Award and Terms and Conditions for Non-Employee Directors*	Filed as Exhibit 10.2 to Form 10-Q (File No. 001-38147) filed on August 8, 2023
10.56	Form Notice of Performance-based Restricted Stock Unit Award and Terms and Conditions*	Filed as Exhibit 10.3 to Form 10-Q (File No. 001-38147) filed on August 8, 2023
10.57	Form Notice of Service-based Restricted Stock Unit Award and Terms and Conditions*	Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on August 8, 2023
10.58	2023 Executive Short-Term Incentive Program Terms and Conditions*	Filed as Exhibit 10.5 to Form 10-Q (File No. 001-38147) filed on August 8, 2023
10.59	Form Notice of Performance-based Restricted Stock Unit Award Terms and Conditions*	Filed as Exhibit 10.1 to Form 10-Q (File No. 001-38147) filed on May 7, 2024
10.60	Form Notice of Service-based Restricted Stock Unit Award and Terms and Conditions*	Filed as Exhibit 10.2 to Form 10-Q (File No. 001-38147) filed on May 7, 2024
10.61	2024 Executive Short-Term Incentive Program Terms and Conditions*	Filed as Exhibit 10.3 to Form 10-Q (File No. 001-38147) filed on May 7, 2024
10.62	Form Notice of Restricted Stock Unit Award and Terms and Conditions for Non-Employee Directors*	Filed as Exhibit 10.1 to Form 10-Q (File No. 001-38147) filed on August 8, 2024
10.63	Waiver, Acknowledgement and Amendment, dated August 20, 2024, by and between CONSOL Energy Inc. and James A. Brock	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on August 21, 2024
10.64	Separation of Employment and General Release Agreement, by and between the Company and Martha A. Wiegand	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on November 12, 2024
10.65	Form of Indemnification and Advancement Agreement	Filed as Exhibit 10.3 to Form 8-K (File No. 001-38147) filed on January 15, 2025
10.66	Form of Performance Restricted Stock Unit Award Agreement (Executive 2025 Annual Award)*	Filed as Exhibit 10.96 to Form 10-Q (File No. 001-38147) filed on May 8, 2025
10.67	Form of Restricted Stock Unit Award Agreement (Executive 2025 Annual Award)*	Filed as Exhibit 10.97 to Form 10-Q (File No. 001-38147) filed on May 8, 2025

60

Exhibits	Description	Method of Filing
10.68	Form of Performance Restricted Stock Unit Award Agreement (Executive Start-Up Grant)*	Filed as Exhibit 10.98 to Form 10-Q (File No. 001-38147) filed on May 8, 2025
10.69	Form of Restricted Stock Unit Award Agreement (Executive Start-Up Grant)*	Filed as Exhibit 10.99 to Form 10-Q (File No. 001-38147) filed on May 8, 2025
10.70	Form of Restricted Stock Unit Award Agreement (Non-Employee Directors 2025 Annual Award and Start-Up Grant)*	Filed as Exhibit 10.100 to Form 10-Q (File No. 001-38147) filed on May 8, 2025
10.71	Receivables Financing Agreement, dated as of July 28, 2025, by and among Core Receivable Company, LLC, as borrower, Core Sales, LLC, as the initial servicer, PNC, as administrative agent and LC bank, PNC CM, as structuring agent, and the lenders from time to time party thereto#^	Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on July 31, 2025
10.72	Third Amended and Restated Sale and Contribution Agreement, dated as of July 28, 2025, by and among Core Receivable Company, LLC, Core Sales, LLC, as the initial servicer, and Arch as transferor#	Filed as Exhibit 10.2 to Form 8-K (File No. 001-38147) filed on July 31, 2025
10.73	Third Amended and Restated Purchase and Sale Agreement, dated as of July 28, 2025, by and among Arch, as buyer, Core Sales, LLC, as the initial servicer, and the originators party thereto#	Filed as Exhibit 10.3 to Form 8-K (File No. 001-38147) filed on July 31, 2025
10.74	Fifth Amended and Restated Performance Guaranty, dated as of July 28, 2025, by Core in favor of PNC for the benefit of the secured parties under the Receivables Financing Agreement#	Filed as Exhibit 10.4 to Form 8-K (File No. 001-38147) filed on July 31, 2025
10.75	Separation and Release Agreement, by and between the Company and Paul Lang	Filed herewith
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	Filed herewith
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	Filed herewith
32.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	Furnished herewith
32.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	Furnished herewith
95	Mine Safety and Health Administration Safety Data	Filed herewith
101	Interactive Data File (Form 10-Q for the quarterly period ended September 30, 2025, furnished in Inline XBRL)	Filed herewith
104	Cover Page Interactive Data File (formatted as Inline XBRL)	Contained in Exhibit 101

* Indicates management contract or compensatory plan or arrangement.

** The schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K and will be provided to the Securities and Exchange Commission upon request.

# Schedules and attachments to this Exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby undertakes to furnish supplementally copies of any of the omitted schedules upon request by the Securities and Exchange Commission.

^ Portions of this exhibit have been omitted pursuant to Item 601(b)(10) of Regulation S-K because they are both (i) not material and (ii) contain the type of information that the Company customarily and actually treats as private or confidential. Such omitted information is indicated by brackets “[***]” in this exhibit.

61

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	CORE NATURAL RESOURCES, INC.
November 6, 2025	By:	/s/ JAMES A. BROCK
		James A. Brock
		Chairman, Chief Executive Officer (Principal Executive Officer)
November 6, 2025	By:	/s/ MITESHKUMAR B. THAKKAR
		Miteshkumar B. Thakkar
		Chief Financial Officer and President (Principal Financial Officer)
November 6, 2025	By:	/s/ JOHN M. ROTHKA
		John M. Rothka
		Chief Accounting Officer  (Principal Accounting Officer)

62

EX-10.75

Exhibit 10.75

SEPARATION AND RELEASE AGREEMENT

1.PARTIES:

The parties to this Separation and Release Agreement (“Agreement”) are Core Natural Resources, Inc. (“Core”) and Paul Lang (“Employee”).

2.EFFECTIVE DATE:

The “Effective Date” of this Agreement shall be the eighth day after Employee executes this Agreement, provided Employee does not rescind such execution pursuant to Section 8(e)(vi) below.

3.RECITALS:

a.Arch Resources, Inc. (“Arch”), a predecessor to Core, and Employee have previously entered into that certain letter agreement, acknowledged and accepted as of April 30, 2020 (the “Letter Agreement”).

b.Employee was employed by Core as Chief Executive Officer following the consummation of the transactions contemplated by that certain Agreement and Plan of Merger, dated August 20, 2024, by and among CONSOL Energy Inc. (“CONSOL”), Mountain Range Merger Sub Inc. and Arch (the “Merger Agreement”), pursuant to which Core was the surviving company. The Closing (as defined in the Merger Agreement) constituted a “Change in Control” under the Letter Agreement.

c.Core and Employee (the “Parties”) mutually agree that in return for execution of this Agreement and the covenants contained herein, Employee shall be provided certain separation payments and benefits in accordance with the Letter Agreement.

d.It is the intent of the Parties to fully and finally resolve any and all issues between them with respect to Employee’s employment with Core, the termination of such employment, or otherwise. Neither of the Parties, by entering into this Agreement, admits any wrongdoing or liability whatsoever.

e.In consideration of the mutual covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

4.SEPARATION:

a.Employee’s employment with Core has been terminated as of [October 6], 2025 (“Separation Date”).

b.Employee has received all wages and benefits (including without limitation, all accrued but unused vacation or paid time off, as well as reimbursement for all reimbursable expenses incurred by Employee in connection with Employee’s employment), accruing through the Separation Date, less applicable withholding and deductions. By signing below, Employee acknowledges that, with the payments and benefits set forth in this Section 4(b), Employee has received all payments and benefits due in connection with Employee’s employment, and Core does not owe

Employee any additional payments or benefits, except as provided below, subject to the terms hereof.

5.CONSIDERATION:

a.Employee shall receive a payment of $8,074,361.45, which includes a payment for COBRA and life insurance (the “Cash Severance Payment”), which shall be in full satisfaction of Section D(3)(a) and Sections D(3)(b)(i), (ii), (iv), (v), (vi), (vii), and (ix) of the Letter Agreement. The Cash Severance Payment will be paid in a lump sum, less applicable deductions and withholdings, payable through Core’s normal payroll practices no later than ten (10) days following the Effective Date.

b.In full satisfaction of Sections D(3)(b)(iii) and (viii) of the Letter Agreement, all time-based restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”) in Core held by Employee are eligible for vesting in accordance with the applicable award agreements (the “Award Agreements”) and shall be settled, along with any related dividend equivalents, in accordance with the terms thereof for a termination of employment due to “Normal Retirement” (as defined in the applicable Award Agreement); provided, that, the tax withholding obligation for Employee’s RSUs shall be satisfied by withholding shares of Core’s common stock otherwise issuable in respect of the RSUs up to the maximum applicable withholding tax rate for federal (including FICA), state, and local tax liabilities based on the Fair Market Value (as defined in Core’s equity plan and determined on the day when the tax withholding is required to be made) of the shares, and such settlement of Employee’s PSUs shall be made in the form of cash paid in a lump sum, less applicable deductions and withholdings, payable through Core’s normal payroll practices no later than sixty (60) days following the Separation Date, equal to (i) the number of underlying shares that would have otherwise been settled pursuant to such PSUs as a result of this Section 5(b), assuming target performance for the PSUs, multiplied by (ii) $88.45 (the closing price of Core’s common stock on October 6, 2025).

c.In addition, Employee is entitled to relocation benefits that are no less favorable than the amounts of the Tier 1 relocation benefits described in Arch’s Employee Relocation Guide as of the Closing in connection with Employee’s relocation from his residence in Pennsylvania to the location of his choice within the continental United States upon the termination of his employment as described herein. Core will reimburse Employee for the full costs of such relocation benefits as soon as reasonably practicable following Employee’s relevant relocation but in no event later than December 31, 2026.

d.Except as provided in this Agreement, the Letter Agreement or as required by the terms of a Core-sponsored employee benefit plan in which Employee is participating on the Separation Date, no payment, compensation, leave time, or other benefits will be furnished or paid to Employee. Except as specifically provided for in this Agreement or the terms of the applicable benefit plan, as of the Separation Date, Employee will cease to be eligible to participate under, or be covered by, any compensation or employee benefit plan and has no rights under any of those plans.

2

6.CONSULTING SERVICES:

Employee agrees to provide reasonable transitional consulting services (the “Consulting Services”) to Core as may be reasonably requested by Core from time to time during the period commencing immediately after the Separation Date and ending on December 31, 2025 (the “Consulting Period”). During the Consulting Period, Employee shall be paid $83,333 per month, prorated for October, payable in arrears in accordance with Core’s regular payment practices for Core consultants. Either Core or Employee may terminate the Consulting Services at any time. For the avoidance of doubt, the Parties intend for Employee to incur a “separation from service” within the meaning of Section 409A (as defined below) as of the Separation Date. It is hereby expressly understood and agreed by Core and Employee that Employee shall be an independent contractor (and not an employee) during the Consulting Period and Employee shall receive no Core-sponsored benefits from Core or its affiliates either as an independent contractor or employee during the Consulting Period with respect to the Consulting Services.

7.RELEASE OF CLAIMS:

a.Employee, for Employee and Employee’s executors, administrators, heirs and assigns, hereby releases and forever discharges Core, Arch, and CONSOL and their parents, subsidiaries, affiliates, successors, predecessors, assigns, members, officers, directors, managers, shareholders, partners, members, employees, agents, attorneys, insurers, and representatives, each in their respective capacities as such (collectively, the “Released Parties”), from any and all manner of action or actions, claims, demands, causes or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liability, damages, loss, cost or expense, and rights, of any nature whatsoever, known or unknown, fixed or contingent (including any and all claims or demands for attorneys’ fees and costs), which have arisen or may have arisen from Employee’s employment with Core, or by reason of any matter, cause, or thing whatsoever from the beginning of time through and including the date Employeeexecutes this Agreement. Employee specifically releases and discharges Core and the Released Parties from any and all claims undertheAge Discrimination in Employment Act, the Older Workers Benefit Protection Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Equal Pay Act, the Civil Rights Act of 1866, Section 1981, 42 U.S.C. § 1981, the Family and Medical Leave Act of 1993, the Americans with Disabilities Act of 1990, the False Claims Act, the Employee Retirement Income Security Act, the Worker Adjustment and Retraining Notification Act, the Fair Labor Standards Act, the Sarbanes-Oxley Act of 2002, the National Labor Relations Act of 1935, the Uniformed Services Employment and Reemployment Rights Act of 1994, Fair Credit Reporting Act, the Mine Safety and Health Act, the Missouri Human Rights Act, the Pennsylvania Human Relations Act, the Pennsylvania Whistleblower Law, or any similar state law (and any amendments to any of the foregoing), as well as any other foreign, federal, state, or local statutes, regulations, ordinance, constitution, order or common law (whether sounding in contract or tort) regarding or related to employment, termination of employment, wrongful discharge, employment discrimination or harassment, retaliation, leaves of absence, equal opportunity, wage and hour, payment of wages or other compensation of any kind, any employment or other agreement with Core, any policies or procedures of Core, or any other term or condition of employment. Employee

3

specifically understands Employee is releasing claims based on age, race, color, sex, sexual orientation, gender identity or expression, marital status, religion, national origin, citizenship, military or veteran’s status, disability, genetic characteristic, and all other legally protected categories. Notwithstanding the foregoing, Employee does not waive or release any rights or claims as to benefits under any Core employee benefit plan nor any claim to which Employee may have under the Letter Agreement.

b.Notwithstanding the generality of the foregoing, Employee does not release any claims that cannot be released as a matter of law including, without limitation, (i) Employee’s right to file for unemployment insurance benefits or any state disability insurance benefits pursuant to the terms of applicable state law; (ii) Employee’s right to file claims for workers’ compensation insurance benefits under the terms of any worker’s compensation insurance policy or fund of Core; (iii) Employee’s right to file a charge with the Equal Employment Opportunity Commission, National Labor Relations Board, Mine Safety and Health Administration, Securities and Exchange Commission, or other federal, state or local administrative agency charged with enforcement of any law, or any other federal, state or local government agency, or to cooperate with or participate in any investigation conducted by such agency; provided, however, that Employee hereby releases Employee’s right to receive damages in any such proceeding brought by Employee or on Employee’s behalf; (iv) Employee’s right to communicate directly with the Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, the U.S. Department of Justice or similar agency, or to cooperate with or participate in any investigation by such agency; or (v) Employee’s right to make any disclosure that are protected under the whistleblower provisions of applicable law. For the avoidance of doubt, Employee does not need to notify or obtain the prior authorization of Core to exercise any of the foregoing rights. Further, for the avoidance of doubt, nothing herein shall restrict Employee from challenging the knowing and voluntary nature of this Agreement under the ADEA, as amended by the OWBPA, before a court of competent jurisdiction or the EEOC; provided, nothing herein shall limit such court’s or the EEOC’s ability to offset any money awarded to Employee upon such a challenge by the amount of consideration received under this Agreement under Section 5 above. Further, nothing in this Agreement prohibits Employee from seeking or obtaining a whistleblower award from the Securities and Exchange Commission pursuant to Section 21F of the Securities Exchange Act of 1934, as amended.

c.To the fullest extent permitted by law, Employee represents and affirms (i) Employee has not filed or caused to be filed on Employee’s behalf any claim for relief against Core or any Released Party; and (ii) Employee did not sustain any injuries for which Employee might be entitled to compensation pursuant to worker’s compensation law or Employee has disclosed any injuries of which Employee is currently, reasonably aware for which Employee might be entitled to compensation pursuant to worker’s compensation law.

d.Employee shall not, after the Effective Date of this Agreement, commence any adversarial action, lawsuit, or other legal proceeding against Core or the Released Parties, whether relating to Employee’s employment with Core, the termination of

4

such employment, or otherwise, arising out of events which have occurred or may have occurred prior to the date of Employee’s execution of this Agreement except for any claims expressly excluded from this release in Sections 7(a-b) herein or otherwise to enforce claims or recoveries under the Letter Agreement.

8.EMPLOYEE OBLIGATIONS AND COVENANTS:

a.Employee acknowledges and agrees that Employee remains bound by, and Employee agrees to comply with, the post-termination covenants set forth in the Letter Agreement, which includes without limitation non-competition covenants, non-solicitation covenants, and covenants restricting the disclosure and use of Confidential Information (as defined therein), all of which are incorporated herein by reference and made a part of this Agreement. The foregoing covenants incorporated and/or set forth in this Section 8(a), are collectively referred to as the “Restrictive Covenants.”

b.Employee acknowledges that in the course of employment with Core, Employee has or may have received confidential information concerning Core and its business. Employee shall keep such information confidential and shall not disclose such information to any third party without the prior written consent of Core. Notwithstanding the foregoing, nothing in this Agreement shall prohibit or restrict Employee from (with or without prior notice to Core): (i) making any disclosure of information required by law; (ii) providing information to, or testifying or otherwise assisting in any investigation or proceeding brought by, any federal or state regulatory or law enforcement agency or legislative body, any self-regulatory organization, or Core’s designated legal, compliance or human resources personnel; (iii) reporting, filing, testifying, participating in or otherwise assisting in a proceeding relating to an alleged violation of any federal, state or municipal law relating to fraud, or any rule or regulation of the Securities and Exchange Commission or any self-regulatory organization; or (iv) making other disclosures that are protected under the whistleblower provisions of federal or state law or regulation.

c.Employee warrants that Employee has returned to Core all company property in Employee’s possession (other than any property that Core has specifically permitted Employee to keep following the Separation Date), including without limitation, any cell phone, laptop computer or tablet.

d.Employee understands and agrees the payments, benefits and agreements provided in this Agreement are being provided to Employee in consideration for Employee’s acceptance and execution of, and in reliance upon, Employee’s representations in this Agreement, and they are greater than the payments, benefits and agreements, if any, to which Employee would have received if Employee had not executed this Agreement.

e.Employee acknowledges each and every of the following statements:

i.Employee enters into this Agreement knowingly and voluntarily, and not under duress or coercion of any kind;

5

ii.Employee has read this Agreement and understands each of its terms;

iii.By entering into this Agreement, Employee is receiving a benefit to which Employee is not already entitled;

iv.Employee is hereby advised by Core to consult with an attorney prior to signing this Agreement, and if Employee fails to consult with an attorney, such failure is Employee’s own choice;

v.Employee has been given at least 21 days to consider this Agreement before signing it; and in the event Employee elects to sign this Agreement before the expiration of the 21-day period, Employee does so knowingly and voluntarily, and having had a full and fair opportunity to review and consider its terms; and

vi.This Agreement may be revoked by Employee within seven (7) days after Employee’s execution and this Agreement shall not become effective until the expiration of such seven (7) day revocation period. Any revocation must be submitted, in writing, to Core, and state, “I hereby revoke my acceptance of our Agreement.” The revocation must be personally delivered, emailed or mailed to Core Natural Resources, Inc. Attn: Rosemary L. Klein, Senior Vice President, Chief Legal Officer & Corporate Secretary (RosemaryKlein@coreresources.com), 275 Technology Drive, Suite 101, Canonsburg, PA 15317 and hand-delivered, emailed or postmarked within seven (7) calendar days of Employee’s execution of this Agreement. In the event of a timely revocation by Employee, this Agreement will be deemed null and void and Core will have no obligations hereunder.

9.MISCELLANEOUS:

a.Notwithstanding anything in this Agreement to the contrary, any compensation payable under this Agreement that is designated as payable upon Employee’s termination of employment will be payable only upon Employee’s “separation from service” with Core within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder (“Section 409A”). Employee’s right to receive any installment payments under this Agreement will be treated as a right to receive a series of separate payments and each such installment payment will at all times be considered a separate and distinct payment as permitted under Section 409A. In addition, unless otherwise required by applicable law, no clawback policy of Core shall apply to you other than any clawback policies of Core in effect as of the date of this Agreement.

b.This Agreement shall bind and benefit the heirs, personal representatives, administrators, successors, and assigns of the Parties hereto.

c.This Agreement and the obligations of the Parties hereunder shall be construed, interpreted and enforced in accordance with the laws of the State of Missouri, without

6

giving effect to any conflict of law principles that would result in the application of any law other than the law of the State of Missouri.

d.Any controversy or claim arising out of or relating to this Agreement or the Letter Agreement or the breach of either, shall be settled exclusively by arbitration in accordance with the Center for Public Resources’ Model ADR Procedures and Practices. Notwithstanding anything to the contrary, Section F(4)(“Arbitration”) of the Letter Agreement and any other relevant provision of such agreement shall continue to remain in full force and effect.

e.This Agreement and the Letter Agreement, together with any confidentiality agreements previously signed by Employee, constitute the entire agreement between the Parties and supersedes all prior representations, understandings, and agreements of the Parties with respect thereto. Any waiver or amendment of any provisions of this Agreement shall be effective only if in writing signed by the Parties hereto. If any part or provision of this Agreement is held to be invalid or unenforceable, such invalid or unenforceable part of this Agreement shall be judicially modified to provide for the greatest protection to Core that is permitted by applicable law, and the remaining parts and provisions of this Agreement shall not be affected in any way.

INTENDING TO BE LEGALLY BOUND BY THIS AGREEMENT, THE PARTIES HAVE PROVIDED THEIR SIGNATURES ON THE DATES INDICATED BELOW.

Employee                    Core Natural Resources, Inc.

    By:

Printed Name                    Printed Name

                        Title

Date                        Date

7

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, James A. Brock, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Core Natural Resources, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 6, 2025

/s/ James A. Brock

James A. Brock

Chairman, Chief Executive Officer

(Principal Executive Officer)

EX-31.2

Exhibit 31.2

CERTIFICATIONS

I, Miteshkumar B. Thakkar, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Core Natural Resources, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 6, 2025

/s/ Miteshkumar B. Thakkar

Miteshkumar B. Thakkar

Chief Financial Officer and President

(Principal Financial Officer)

EX-32.1

Exhibit 32.1

CERTIFICATION

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002,

18 U.S.C. Section 1350

I, James A. Brock, Chairman and Chief Executive Officer (principal executive officer) of Core Natural Resources, Inc. (the “Registrant”), certify that to my knowledge, based upon a review of the Quarterly Report on Form 10-Q for the period ended September 30, 2025, of the Registrant (the “Report”):

1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: November 6, 2025

/s/ James A. Brock

James A. Brock

Chairman, Chief Executive Officer

(Principal Executive Officer)

EX-32.2

Exhibit 32.2

CERTIFICATION

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002,

18 U.S.C. Section 1350

I, Miteshkumar B. Thakkar, Chief Financial Officer (principal financial officer) of Core Natural Resources, Inc. (the “Registrant”), certify that to my knowledge, based upon a review of the Quarterly Report on Form 10-Q for the period ended September 30, 2025, of the Registrant (the “Report”):

1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: November 6, 2025

/s/ Miteshkumar B. Thakkar

Miteshkumar B. Thakkar

Chief Financial Officer and President

(Principal Financial Officer)

EX-95

Exhibit 95

Mine Safety and Health Administration Safety Data

We believe that Core Natural Resources is one of the safest mining companies in the world. The Company has in place health and safety programs that include extensive employee training, accident prevention, workplace inspection, emergency response, accident investigation, regulatory compliance and program auditing. The objectives of our health and safety programs are to eliminate workplace incidents, comply with all mining-related regulations and provide support for both regulators and the industry to improve mine safety.

The operation of our mines is subject to regulation by the federal Mine Safety and Health Administration (MSHA) under the Federal Mine Safety and Health Act of 1977 (Mine Act). MSHA inspects our mines on a regular basis and issues various citations, orders and violations when it believes a violation has occurred under the Mine Act. We present information below regarding certain mining safety and health violations, orders and citations issued by MSHA and related assessments and legal actions and mine-related fatalities with respect to our coal mining operations. In evaluating this information, consideration should be given to factors such as: (i) the number of violations, orders and citations will vary depending on the size of the coal mine, (ii) the number of violations, orders and citations issued will vary from inspector to inspector and mine to mine, and (iii) violations, orders and citations can be contested and appealed, and in that process, are often reduced in severity and amount, and are sometimes dismissed.

The table below sets forth for the three months ended September 30, 2025 for each coal mine of Core Natural Resources and its subsidiaries, the total number of: (i) violations of mandatory health or safety standards that could significantly and substantially contribute to the cause and effect of a coal or other mine safety or health hazard under section 104 of the Mine Act for which the operator received a citation from MSHA; (ii) orders issued under section 104(b) of the Mine Act; (iii) citations and orders for unwarrantable failure of the mine operator to comply with mandatory health or safety standards under section 104(d) of the Mine Act; (iv) flagrant violations under section 110(b)(2) of the Mine Act; (v) imminent danger orders issued under section 107(a) of the Mine Act; (vi) the total dollar value of proposed assessments from MSHA (regardless of whether Core Natural Resources has challenged or appealed the assessment); (vii) the total number of mining-related fatalities; (viii) notices from MSHA of a pattern of violations of mandatory health or safety standards that are of such nature as could have significantly and substantially contributed to the cause and effect of coal or other mine health or safety hazards under section 104(e) of the Mine Act; (ix) notices from MSHA regarding the potential to have a pattern of violations as referenced in (viii) above; and (x) pending legal actions before the Federal Mine Safety and Health Review Commission (as of September 30, 2025) involving such coal or other mine, as well as the aggregate number of legal actions instituted and the aggregate number of legal actions resolved during the reporting period.

Mine or Operating Name/MSHA Identification Number		Section 104 S&S Citations	Section 104(b) Orders	Section 104(d) Citations and Orders	Section 110(b)(2) Violations	Section 107(a) Orders	Total Dollar Value of MSHA Assessments Proposed (In Dollars)	Total Number of Mining-Related Fatalities	Received Notice of Pattern of Violations Under Section 104(e)	Received Notice of Potential to have Pattern Under Section 104(e)	Legal Actions Pending as of Last Day of Period (1)	Legal Actions Initiated During Period	Legal Actions Resolved During Period
Active Operations
West Elk Mine	0503672	4	—	—	—	—	236,458	—	No	No	3	3	—
Meigs #31 Mine	3301172	1	—	—	—	—	1,034	—	No	No	—	—	—
Robena Preparation Plant	3604175	—	—	—	—	—	—	—	No	No	—	—	—
Bailey Mine	3607230	12	—	—	—	—	86,167	—	No	No	7	3	—
Enlow Fork Mine	3607416	7	—	—	—	—	11,684	—	No	No	5	2	2
Harvey Mine	3610045	2	—	—	—	—	8,797	—	No	No	3	—	—
Leer South Mine	4604168	3	—	—	—	—	29,493	—	No	No	3	3	1
Beckley Pocahontas Mine	4605252	16	—	—	—	—	26,829	—	No	No	2	3	5
Upshur Complex	4605823	—	—	—	—	—	—	—	No	No	—	—	—
Leer South Preparation Plant	4608777	—	—	—	—	—	302	—	No	No	—	—	—
Eccles Refuse Area	4609023	—	—	—	—	—	—	—	No	No	—	—	—
Mountaineer II Mine	4609029	18	—	—	—	—	165,176	—	No	No	3	4	3
Cardinal Preparation Plant	4609046	—	—	—	—	—	—	—	No	No	—	—	—
Leer Prep Plant	4609191	—	—	—	—	—	398	—	No	No	—	—	—
Leer Mine	4609192	12	—	—	—	—	45,353	—	No	No	2	3	2
Beckley Pocahontas Plant	4609216	—	—	—	—	—	151	—	No	No	—	—	1
Itmann No 5	4609569	17	—	—	—	—	46,283	—	No	No	5	3	3
Itmann No. 5 Plant	4609598	—	—	—	—	—	—	—	No	No	—	1	1
Black Thunder	4800977	2	—	—	—	—	14,579	—	No	No	1	1	—
Coal Creek Mine	4801215	—	—	—	—	—	1,134	—	No	No	—	—	—
		94	—	—	—	—	673,838	—			34	26	18

(1) See table below for additional details regarding Legal Actions Pending as of September 30, 2025. With respect to Contests of Proposed Penalties, we have included the number of dockets (as opposed to citations) when counting the number of Legal Actions Pending as of September 30, 2025.

Mine or Operating Name/ MSHA Identification Number		Contests of Citations, Orders (as of 9.30.2025)	Contests of Proposed Penalties (as of 9.30.2025) (b)		Complaints for Compensation (as of 9.30.2025)	Complaints of Discharge, Discrimination or Interference (as of 9.30.2025)	Applications for Temporary Relief (as of 9.30.2025)	Appeals of Judges' Decisions or Order (as of 9.30.2025)
		(a)	Dockets	Citations	(c)	(d)	(e)	(f)
Active Operations
West Elk Mine	0503672	—	3	12	—	—	—	—
Meigs #31 Mine	3301172	—	—	—	—	—	—	—
Robena Preparation Plant	3604175	—	—	—	—	—	—	—
Bailey Mine	3607230	—	7	26	—	—	—	2
Enlow Fork Mine	3607416	—	5	6	—	—	—	1
Harvey Mine	3610045	—	3	10	—	—	—	—
Leer South Mine	4604168	—	3	33	—	—	—	—
Beckley Pocahontas Mine	4605252	—	2	31	—	—	—	—
Upshur Complex	4605823	—	—	—	—	—	—	—
Leer South Preparation Plant	4608777	—	—	—	—	—	—	—
Eccles Refuse Area	4609023	—	—	—	—	—	—	—
Mountaineer II Mine	4609029	—	3	32	—	—	—	—
Cardinal Preparation Plant	4609046	—	—	—	—	—	—	—
Leer Prep Plant	4609191	—	—	—	—	—	—	—
Leer Mine	4609192	—	2	7	—	—	—	—
Beckley Pocahontas Plant	4609216	—	—	—	—	—	—	—
Itmann No 5	4609569	—	5	81	—	—	—	—
Itmann No 5 Plant	4609598	—	—	—	—	—	—	—
Black Thunder	4800977	—	1	3	—	—	—	—
Coal Creek Mine	4801215	—	—	—	—	—	—	—
		—	34	241	—	—	—	3

(a) Represents (if any) contests of citations and orders, which typically are filed prior to an operator's receipt of a proposed penalty assessment from MSHA or relate to orders for which penalties are not assessed (such as imminent danger orders under Section 107 of the Mine Act). This category includes: (i) contests of citations or orders issued under section 104 of the Mine Act, (ii) contests of imminent danger withdrawal orders under section 107 of the Mine Act, and (iii) Emergency response plan dispute proceedings (as required under the Mine Improvement and New Emergency Response Act of 2006, Pub. L. No. 109-236, 120 Stat. 493).

(b) Represents (if any) contests of proposed penalties, which are administrative proceedings before the Federal Mine Safety and Health Review Commission (“FMSHRC”) challenging a civil penalty that MSHA has proposed for the violation contained in a citation or order.

(c) Represents (if any) complaints for compensation, which are cases under section 111 of the Mine Act that may be filed with the FMSHRC by miners idled by a closure order issued by MSHA who are entitled to compensation.

(d) Represents (if any) complaints of discharge, discrimination or interference under section 105 of the Mine Act, which cover: (i) discrimination proceedings involving a miner's allegation that he or she has suffered adverse employment action because he or she engaged in activity protected under the Mine Act, such as making a safety complaint, and (ii)

temporary reinstatement proceedings involving cases in which a miner has filed a complaint with MSHA stating that he or she has suffered such discrimination and has lost his or her position. Complaints of Discharge, Discrimination, or Interference are also included in Contests of Proposed Penalties, Column B.

(e) Represents (if any) applications for temporary relief, which are applications under section 105(b)(2) of the Mine Act for temporary relief from any modification or termination of any order or from any order issued under section 104 of the Mine Act (other than citations issued under section 104(a) or (f) of the Mine Act).

(f) Represents (if any) appeals of judges' decisions or orders to the FMSHRC, including petitions for discretionary review and review by the FMSHRC on its own motion.

XML

Cover Page - shares	9 Months Ended
	Sep. 30, 2025	Oct. 31, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2025
Document Transition Report	false
Entity File Number	001-38147
Entity Registrant Name	Core Natural Resources, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-1954058
Entity Address, Address Line One	275 Technology Drive
Entity Address, Address Line Two	Suite 101
Entity Address, City or Town	Canonsburg
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15317-9565
City Area Code	724
Local Phone Number	416-8300
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	CNR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,239,470
Entity Central Index Key	0001710366
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2025

XML

Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Statement [Abstract]
Revenues	$ 1,002,543	$ 553,432	$ 3,122,310	$ 1,590,841
Costs and Expenses:
Cost of Sales (exclusive of items shown separately below)	827,472	354,418	2,610,342	1,052,495
Depreciation, Depletion and Amortization	151,006	53,329	441,825	165,173
General and Administrative Costs	34,133	36,151	158,285	77,669
Other Operating Expense (Income), net	1,742	(7,685)	(3,169)	(17,608)
Costs and Expenses, Total	1,014,353	436,213	3,207,283	1,277,729
(Loss) Income from Operations	(11,810)	117,219	(84,973)	313,112
Interest Expense	(10,606)	(4,664)	(28,676)	(15,063)
Interest Income	7,578	5,016	20,297	14,145
Loss on Debt Extinguishment	0	0	(11,680)	0
Non-Service Related Pension and Postretirement Benefit Costs	(6,562)	(4,400)	(19,301)	(13,201)
(Loss) Earnings Before Income Tax	(21,400)	113,171	(124,333)	298,993
Income Tax (Benefit) Expense	(52,998)	17,539	(50,098)	43,409
Net Income (Loss)	$ 31,598	$ 95,632	$ (74,235)	$ 255,584
Earnings (Loss) per Share:
Total Basic Earnings (Loss) per Share (in dollars per share)	$ 0.61	$ 3.23	$ (1.44)	$ 8.60
Total Diluted Earnings (Loss) per Share (in dollars per share)	0.61	3.22	(1.44)	8.57
Dividends Declared per Common Share (in dollars per share)	$ 0.10	$ 0.25	$ 0.30	$ 0.25

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Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net Income (Loss)	$ 31,598	$ 95,632	$ (74,235)	$ 255,584
Other Comprehensive Income:
Actuarially Determined Long-Term Liability Adjustments (Net of tax: ($109), ($111), ($327), ($332))	378	385	1,134	1,155
Unrealized Gain on Investments in Available-for-Sale Securities (Net of tax: ($117), ($69), ($164), ($28))	406	238	569	95
Other Comprehensive Income	784	623	1,703	1,250
Comprehensive Income (Loss)	$ 32,382	$ 96,255	$ (72,532)	$ 256,834

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Consolidated Statements of Comprehensive Income (Loss) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2025	Sep. 30, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Actuarially determined long-term liability adjustment, net of tax	$ (109)	$ (109)	$ (109)	$ (111)	$ (110)	$ (111)	$ (327)	$ (332)
Unrealized gain on investments in available-for-sale securities, net of tax	$ (117)	$ (119)	$ 72	$ (69)	$ 5	$ 36	$ (164)	$ (28)

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Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current Assets:
Cash and Cash Equivalents	$ 444,672	$ 408,240
Short-Term Investments	0	51,993
Accounts and Notes Receivable:
Trade Receivables, net	328,601	136,750
Other Receivables, net	46,279	25,900
Inventories	407,500	96,201
Other Current Assets	173,366	66,874
Total Current Assets	1,400,418	785,958
Total Property, Plant and Equipment—Net	4,390,382	1,921,699
Other Assets:
Funds for Asset Retirement Obligations	139,931	12,054
Salary Retirement	45,654	41,938
Other Noncurrent Assets, net	219,503	117,894
Total Other Assets	405,088	171,886
TOTAL ASSETS	6,195,888	2,879,543
Current Liabilities:
Accounts Payable	286,323	143,635
Current Portion of Long-Term Debt	83,796	112,865
Other Accrued Liabilities	399,644	262,184
Total Current Liabilities	769,763	518,684
Long-Term Debt:
Long-Term Debt	313,221	79,524
Finance Lease Obligations	21,291	15,270
Total Long-Term Debt	334,512	94,794
Deferred Credits and Other Liabilities:
Postretirement Benefits Other Than Pensions	208,947	176,251
Pneumoconiosis Benefits	250,293	145,489
Asset Retirement Obligations	492,044	212,178
Workers’ Compensation	74,273	36,051
Salary Retirement	20,619	20,073
Deferred Income Taxes	158,035	49,214
Other Noncurrent Liabilities	108,608	58,562
Total Deferred Credits and Other Liabilities	1,312,819	697,818
TOTAL LIABILITIES	2,417,094	1,311,296
Stockholders' Equity:
Common Stock, $0.01 Par Value; 125,000,000 Shares Authorized, 51,216,697 Shares Issued and Outstanding at September 30, 2025; 62,500,000 Shares Authorized, 29,407,830 Shares Issued and Outstanding at December 31, 2024	512	294
Capital in Excess of Par Value	2,991,513	540,412
Retained Earnings	919,639	1,162,114
Accumulated Other Comprehensive Loss	(132,870)	(134,573)
TOTAL STOCKHOLDERS' EQUITY	3,778,794	1,568,247
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 6,195,888	$ 2,879,543

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Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	125,000,000	62,500,000
Common stock, shares issued (in shares)	51,216,697	29,407,830
Common stock, shares outstanding (in shares)	51,216,697	29,407,830

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Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Beginning balance at Dec. 31, 2023	$ 1,343,442	$ 299	$ 547,861	$ 944,342	$ (149,060)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	101,891			101,891
Actuarially Determined Long-Term Liability Adjustments	385				385
Investments in Available-for-Sale Securities	(126)				(126)
Comprehensive Income (Loss)	102,150			101,891	259
Issuance of Common Stock	0	1	(1)
Repurchases of Common Stock	(55,881)	(6)	(11,264)	(44,611)
Excise Tax on Repurchases of Common Stock	(471)			(471)
Employee Stock-Based Compensation	5,129		5,118	11
Shares Withheld for Taxes	(5,551)		(5,551)
Ending balance at Mar. 31, 2024	1,388,818	294	536,163	1,001,162	(148,801)
Beginning balance at Dec. 31, 2023	1,343,442	299	547,861	944,342	(149,060)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	255,584
Actuarially Determined Long-Term Liability Adjustments	1,155
Investments in Available-for-Sale Securities	95
Comprehensive Income (Loss)	256,834
Ending balance at Sep. 30, 2024	1,529,495	294	538,054	1,138,957	(147,810)
Beginning balance at Mar. 31, 2024	1,388,818	294	536,163	1,001,162	(148,801)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	58,061			58,061
Actuarially Determined Long-Term Liability Adjustments	385				385
Investments in Available-for-Sale Securities	(17)				(17)
Comprehensive Income (Loss)	58,429			58,061	368
Issuance of Common Stock	0	1	(1)
Repurchases of Common Stock	(10,997)	(1)	(2,407)	(8,589)
Excise Tax on Repurchases of Common Stock	(82)			(82)
Employee Stock-Based Compensation	2,262		2,237	25
Shares Withheld for Taxes	(27)		(27)
Ending balance at Jun. 30, 2024	1,438,403	294	535,965	1,050,577	(148,433)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	95,632			95,632
Actuarially Determined Long-Term Liability Adjustments	385				385
Investments in Available-for-Sale Securities	238				238
Comprehensive Income (Loss)	96,255			95,632	623
Excise Tax on Repurchases of Common Stock	2			2
Employee Stock-Based Compensation	2,252		2,051	201
Shares Withheld for Taxes	38		38
Dividends on Common Shares	(7,348)			(7,348)
Dividend Equivalents Earned on Stock-Based Compensation Awards	(107)			(107)
Ending balance at Sep. 30, 2024	1,529,495	294	538,054	1,138,957	(147,810)
Beginning balance at Dec. 31, 2024	1,568,247	294	540,412	1,162,114	(134,573)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	(69,277)			(69,277)
Actuarially Determined Long-Term Liability Adjustments	378				378
Investments in Available-for-Sale Securities	(301)				(301)
Comprehensive Income (Loss)	(69,200)			(69,277)	77
Issuance of Common Stock	0	3	(3)
Merger with Arch	2,481,368	243	2,481,125
Repurchases of Common Stock	(101,259)	(14)	(25,296)	(75,949)
Employee Stock-Based Compensation	36,094		36,094
Shares Withheld for Taxes	(14,068)		(14,068)
Dividends on Common Shares	(5,364)			(5,364)
Dividend Equivalents Earned on Stock-Based Compensation Awards	(44)			(44)
Ending balance at Mar. 31, 2025	3,895,774	526	3,018,264	1,011,480	(134,496)
Beginning balance at Dec. 31, 2024	1,568,247	294	540,412	1,162,114	(134,573)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	(74,235)
Actuarially Determined Long-Term Liability Adjustments	1,134
Investments in Available-for-Sale Securities	569
Comprehensive Income (Loss)	(72,532)
Ending balance at Sep. 30, 2025	3,778,794	512	2,991,513	919,639	(132,870)
Beginning balance at Mar. 31, 2025	3,895,774	526	3,018,264	1,011,480	(134,496)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	(36,556)			(36,556)
Actuarially Determined Long-Term Liability Adjustments	378				378
Investments in Available-for-Sale Securities	464				464
Comprehensive Income (Loss)	(35,714)			(36,556)	842
Repurchases of Common Stock	(81,893)	(11)	(21,597)	(60,285)
Excise Tax on Repurchases of Common Stock	(1,245)			(1,245)
Employee Stock-Based Compensation	(4,067)		(4,067)	0
Dividends on Common Shares	(5,223)			(5,223)
Dividend Equivalents Earned on Stock-Based Compensation Awards	(46)			(46)
Ending balance at Jun. 30, 2025	3,767,586	515	2,992,600	908,125	(133,654)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	31,598			31,598
Actuarially Determined Long-Term Liability Adjustments	378				378
Investments in Available-for-Sale Securities	406				406
Comprehensive Income (Loss)	32,382			31,598	784
Repurchases of Common Stock	(19,439)	(3)	(5,003)	(14,433)
Excise Tax on Repurchases of Common Stock	(523)			(523)
Employee Stock-Based Compensation	3,916		3,916	0
Dividends on Common Shares	(5,128)			(5,128)
Ending balance at Sep. 30, 2025	$ 3,778,794	$ 512	$ 2,991,513	$ 919,639	$ (132,870)

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Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2025	Sep. 30, 2024
Statement of Stockholders' Equity [Abstract]
Actuarially determined long-term liability adjustment, net of tax	$ (109)	$ (109)	$ (109)	$ (111)	$ (110)	$ (111)	$ (327)	$ (332)
Investments in available-for-sale securities, tax	$ (117)	$ (119)	$ 72	$ (69)	$ 5	$ 36	$ (164)	$ (28)
Repurchases of common stock (in shares)	270,834	1,175,905	1,377,294		132,063	615,288	2,824,033	747,351
Dividends declared per common share (in dollars per share)	$ 0.10	$ 0.10	$ 0.10	$ 0.25			$ 0.30	$ 0.25

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Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash Flows from Operating Activities:
Net Income (Loss)	$ (74,235)	$ 255,584
Adjustments to Reconcile Net (Loss) Income to Net Cash Provided by Operating Activities:
Depreciation, Depletion and Amortization	441,825	165,173
Gain on Sale of Assets	(6,159)	(6,960)
Stock-Based Compensation	35,943	9,406
Loss on Debt Extinguishment	11,680	0
Deferred Income Taxes	(49,650)	360
Loss from Equity Method Investments	12,841	905
Other Adjustments to Net (Loss) Income	3,294	(276)
Changes in Operating Assets:
Accounts and Notes Receivable	(35,767)	15,420
Inventories	(4,091)	(28,461)
Other Current Assets	(24,360)	1,844
Changes in Other Assets	26,768	(1,479)
Changes in Operating Liabilities:
Accounts Payable	(63,460)	4,298
Other Operating Liabilities	(14,058)	(8,887)
Payments on Asset Retirement Obligations	(25,094)	(21,379)
Changes in Other Liabilities	(37,035)	(30,468)
Net Cash Provided by Operating Activities	198,442	355,080
Cash Flows from Investing Activities:
Capital Expenditures	(203,304)	(137,148)
Proceeds from Sales of Assets	6,514	7,320
Proceeds from Sales of Short-Term Investments	80,165	44,075
Purchases of Short-Term Investments	(4,802)	(43,265)
Net Cash and Restricted Cash Acquired from Merger	368,726	0
Purchase of Arch Tax-Exempt Bonds	(98,225)	0
Investments in DTA	(10,640)	0
Other Investing Activity	(6,834)	(5,682)
Net Cash Provided by (Used in) Investing Activities	131,600	(134,700)
Cash Flows from Financing Activities:
Payments on Finance Lease Obligations	(8,910)	(8,258)
Proceeds from Long-Term Debt	114,439	0
Payments on Other Debt	(12,412)	(905)
Shares Withheld for Taxes	(14,068)	(5,540)
Repurchases of Common Stock	(202,591)	(70,879)
Debt-Related Financing Fees	(20,477)	0
Payments of Excise Tax on Share Repurchases	(934)	0
Dividends and Dividend Equivalents Paid	(21,050)	(8,451)
Net Cash Used in Financing Activities	(166,003)	(94,033)
Net Increase in Cash and Cash Equivalents and Restricted Cash	164,039	126,347
Cash and Cash Equivalents and Restricted Cash at Beginning of Period	447,542	243,268
Cash and Cash Equivalents and Restricted Cash at End of Period	611,581	369,615
Non-Cash Investing and Financing Activities:
Equipment Financing	91,638	3,248
Equity Issued as Consideration for Merger	$ 2,481,368	$ 0

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Basis of Presentation

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

BASIS OF PRESENTATION:

Basis of Presentation

The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the U.S. (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2025 are not necessarily indicative of the results that may be expected for future periods.

The Consolidated Balance Sheet at December 31, 2024 has been derived from the Audited Consolidated Financial Statements at that date but does not include all disclosures required by GAAP. This Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

All dollar amounts discussed in these Notes to Consolidated Financial Statements are in thousands of U.S. dollars, except for share and per share amounts, and unless otherwise indicated.

Basis of Consolidation

The Consolidated Financial Statements include the accounts of Core Natural Resources, Inc. and its wholly-owned and majority-owned and/or controlled subsidiaries (including Arch) as of September 30, 2025. All intercompany transactions and accounts have been eliminated in consolidation. Upon closing of the Merger with Arch (see Note 2 - Merger with Arch), the Company acquired a 35% interest in the Dominion Terminal, a ground storage-to-vessel coal transloading facility in Newport News, Virginia operated by DTA. The Company has the ability to exercise significant influence, but not control, over DTA and accordingly, the investment in DTA is accounted for under the equity method.

Recent Accounting Pronouncements

In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-05, Financial Instruments—Credit Losses (Topic 326)—Measurement of Credit Losses for Accounts Receivable and Contract Assets. This update aims to address challenges encountered when applying the guidance in Topic 326, Financial Instruments—Credit Losses. This update introduces a practical expedient for all entities. In developing reasonable and supportable forecasts as part of estimating expected credit losses, all entities may elect a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. An entity that elects the practical expedient should apply the amendments in this update prospectively. The amendments will be effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance. Management is currently evaluating the impact of this guidance but does not expect this update to have a material impact on the Company's financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). The amendments in this update aim to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The amendments in this update require that public business entities, at each interim period and on an annual basis: (1) disclose the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) depreciation, depletion and amortization recognized as part of oil- and gas-producing activities (or other amounts of depletion expense) included in each relevant expense caption; (2) include certain amounts that are already required to be disclosed under current GAAP; (3) disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively; and (4) disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The amendments in this update are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. These amendments may be applied either prospectively or retrospectively. Management is currently evaluating the impact of this guidance but, with the exception of the increased disclosures summarized above, does not expect this update to have a material impact on the Company's financial statements.

Earnings (Loss) per Share

Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted-average number of shares outstanding during the reporting period. Diluted earnings (loss) per share are computed similarly to basic earnings (loss) per share, except that the weighted-average number of shares outstanding is increased to include additional shares from restricted stock units and performance share units, if dilutive. The number of additional shares is calculated by assuming that outstanding restricted stock units and performance share units were released, and that the proceeds from such activities, as applicable, were used to acquire shares of common stock at the average market price during the reporting period.

The table below sets forth the share-based awards that have been excluded from the computation of diluted earnings (loss) per share because their effect would be anti-dilutive:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Anti-Dilutive Restricted Stock Units	51,586	377	81,218	458
Anti-Dilutive Performance Share Units	—	—	41,250	—
	51,586	377	122,468	458

The computations for basic and diluted earnings (loss) per share are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Numerator:
Net Income (Loss)	$	31,598	$	95,632	$	(74,235)	$	255,584
Denominator:
Weighted-average shares of common stock outstanding	51,577,732		29,580,649		51,460,427		29,705,627
Effect of dilutive shares	26,749		121,406		—		118,962
Weighted-average diluted shares of common stock outstanding	51,604,481		29,702,055		51,460,427		29,824,589
Earnings (Loss) per Share:
Basic	$	0.61	$	3.23	$	(1.44)	$	8.60
Diluted	$	0.61	$	3.22	$	(1.44)	$	8.57

As of September 30, 2025, the Company had 500,000 shares of preferred stock authorized, none of which were issued or outstanding.

Reclassifications

Certain amounts in prior periods have been reclassified to conform with the report classifications of the current period. These reclassifications had no effect on previously reported total net income (loss), assets, stockholders' equity or cash flows from operating activities, nor do they affect key metrics used by the Company's chief operating decision maker (“CODM”) to evaluate performance.

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Merger with Arch

9 Months Ended

Sep. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Merger with Arch

MERGER WITH ARCH:

On January 14, 2025, Core completed its previously announced merger of equals transaction with Arch, pursuant to the Merger Agreement. Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into Arch, with Arch continuing as the surviving corporation and as a wholly-owned subsidiary of the Company. In connection with the Merger, the Company issued 24.3 million shares of its common stock, which represents approximately 45% of the issued and outstanding shares of Company common stock after giving effect to such issuance. Based upon the closing price of the Company's common stock on January 13, 2025, the equity portion of the purchase consideration was $2,481,368.

Prior to the closing of the Merger, on January 13, 2025, the Company purchased an aggregate principal amount of $98,075 of the outstanding (i) Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2020, and (ii) Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2021 (together, the “Arch Bonds”), which were issued by the West Virginia Economic Development Authority for the benefit of Arch (the “Arch Bond Purchase”). The Company also consented to the release of all liens, mortgages and security interests granted or purported to be granted pursuant to the security documents relating to the Arch Bonds and to the termination of all such security documents. The $98,075 of Arch Bonds purchased by the Company constituted all of the outstanding Arch Bonds. Upon the closing of the Merger, the pre-existing contractual relationship between the Company and Arch resulting from the Arch Bond Purchase became an intercompany relationship on a consolidated basis and, as such, was effectively settled on January 14, 2025. As such, total consideration transferred includes the effect of the Arch Bond Purchase and assumed liabilities excludes the obligations that were effectively settled. The settlement of this pre-existing relationship between the Company and Arch did not result in any material gain or loss. The Arch Bonds were successfully remarketed and reissued on March 27, 2025 to third-party investors (as remarketed and reissued, the “Series 2025 Bonds”). See Note 13 - Long-Term Debt for additional information.

The Merger joined two proven leadership teams and operating platforms to establish Core, a premier North American coal producer and exporter of high-quality, low-cost coals with offerings ranging from metallurgical to high calorific value and other thermal coals. With mining operations and terminal facilities across six states, Core owns 11 mines, including one of the largest, lowest cost and highest calorific value thermal coal mining complexes in North America and one of the largest, lowest cost and highest quality metallurgical coal mine portfolios in the U.S. Core also has access to global markets via ownership interests in two export terminals on the U.S. Eastern seaboard, along with strategic connectivity to ports on the West Coast and Gulf of America.

The Company applied the acquisition method of accounting in accordance with Accounting Standards Codification 805, Business Combinations, and recognized assets acquired and liabilities assumed at their estimated fair value as of the closing date of the Merger. As the Company finalizes the estimation of the fair values of the assets acquired and liabilities assumed, the preliminary purchase price allocation is subject to further refinement and may require significant adjustments to arrive at the final purchase price allocation. The below fair values of assets acquired and liabilities assumed are based on the information that was available as of the reporting date. The Company will continue to obtain information to assist in finalizing the fair values of assets acquired and liabilities assumed, which may differ materially from these preliminary estimates. The final purchase price allocation may include changes in allocations to mineral reserves, real and personal property, asset retirement obligations and other changes to assets and liabilities. The Company expects to complete the purchase price allocation once it has received all necessary information, at which time the value of the assets acquired and liabilities assumed will be revised if necessary. Adjustments to the purchase price allocation made during the nine months ended September 30, 2025 did not have a material impact on the Company's financial results.

The following table presents the preliminary allocation of the aggregate purchase price based on estimated fair values:

	Preliminary Purchase Price Allocation
Total Equity Portion of Purchase Price Consideration	$	2,481,368
Effective Settlement of Pre-Existing Relationships	95,636
Total Consideration Transferred	$	2,577,004
Assets Acquired:
Cash and Cash Equivalents	$	217,593
Short-Term Investments	22,969
Trade Receivables, net	161,670
Other Receivables, net	6,629
Inventories	307,175
Other Current Assets	13,366
Property, Plant and Equipment, net	2,604,625
Funds for Asset Retirement Obligations	150,033
Other Noncurrent Assets, net	155,763
Total Assets Acquired	3,639,823
Liabilities Assumed:
Accounts Payable	211,227
Current Portion of Long-Term Debt	4,104
Other Accrued Liabilities	154,651
Long-Term Debt	6,667
Postretirement Benefits Other Than Pensions	37,118
Pneumoconiosis Benefits	111,313
Asset Retirement Obligations	248,773
Workers’ Compensation	36,254
Salary Retirement	786
Deferred Income Taxes	158,471
Other Noncurrent Liabilities	93,455
Total Liabilities Assumed	1,062,819
Net Assets Acquired	$	2,577,004

The fair value and gross contractual amount of receivables acquired was $168,299. The Company expects to collect the entire contractual amount.

The fair value of acquired property, plant and equipment, which primarily includes mineral reserves and real and personal property, was measured using a combination of cost and income approaches based on inputs that are not observable in the market and, as such, are Level 3 fair value measurements. Significant inputs used in the income approach included estimates of forecasted cash flows, which are impacted by the forecasted market price of coal as well as the expected timing of significant capital expenditures, among others. Significant inputs used in the cost approach included, but were not limited to, the replacement costs for similar assets, relative age of the assets, and any potential economic or functional obsolescence associated with the assets. The preliminary application of purchase accounting resulted in fair value adjustments of approximately $1.4 billion.

As part of the preliminary purchase price allocation, the Company identified certain intangible assets and liabilities related to contracts for which the contractual terms were preliminarily identified as being favorable or unfavorable in relation to current market terms. The estimated fair values of the identified intangible assets and liabilities were approximately $84 million and $37 million, which were included in Other Noncurrent Assets, net and Other Noncurrent

Liabilities, respectively, on the Consolidated Balance Sheet at September 30, 2025. The estimated fair values of the identified intangible assets and liabilities were determined using the income approach based on inputs that are not observable in the market and, as such, is a Level 3 fair value measurement. Significant inputs to the valuation of the identified intangible assets and liabilities included future revenue estimates, future cost assumptions, estimated contract renewals, a discount rate assumption and an estimated required rate of return on the assets, among others. The identified intangible assets and liabilities are amortized over each contractual term, which ranges from one to five years, or a weighted-average period of 1.6 years, which reflects the pattern in which the Company expects to consume the economic benefits of the net assets. Amortization expense was approximately $8 million and $23 million for the three and nine months ended September 30, 2025. The Company expects to recognize amortization expense of approximately 66% of the total contract value in 2025, 16% in 2026, 16% in 2027 and the remaining 2% in 2028 and 2029.

The Consolidated Statement of Income (Loss) for the nine months ended September 30, 2025 includes Revenues of $1,531,951 and a Loss Before Income Tax of $274,610 attributable to Arch since the closing of the Merger on January 14, 2025.

The table below summarizes the Company's results as though the Merger had been consummated on January 1, 2024:

	Three Months Ended September 30, 2024		Nine Months Ended September 30,
			2025		2024
Revenues (a)	$	1,172,016	$	3,173,017	$	3,499,093
Net Income (Loss) (a)	$	69,680	$	(52,109)	$	125,877

(a) Pro forma information has not been provided for the three months ended September 30, 2025 since Arch was fully consolidated for the entire period. Pro forma information for the nine months ended September 30, 2025 includes Arch's historical results for the January 1, 2025 through January 13, 2025 period prior to the Merger excluding Merger-related costs.

The unaudited pro forma information is based on historical information and is adjusted for depreciation, depletion and amortization related to the fair value adjustments of property, plant and equipment and intangible assets (as discussed above), assuming the fair value adjustments had been applied from January 1, 2024.

The unaudited pro forma financial information for the nine months ended September 30, 2024 also includes $135,022 of non-recurring pro forma adjustments (before tax) directly attributable to the Merger, which are comprised primarily of $92,698 of transaction and employee-related costs incurred by Arch and the Company prior to the closing of the Merger and $39,765 of Merger-related costs incurred subsequent to the closing of the Merger and $2,559 of non-recurring expense related to the fair value adjustment to inventory. The Merger-related costs and non-recurring expense related to the fair value adjustment to inventory incurred subsequent to the closing of the Merger are included in General and Administrative Costs and Cost of Sales, respectively, in the accompanying Consolidated Statement of Income (Loss) for the nine months ended September 30, 2025, but, for the purpose of presenting the unaudited pro forma financial information above, have been removed from the 2025 period and included in the nine months ended September 30, 2024 to give effect to the Merger as if it closed on January 1, 2024. Pro forma adjustments were tax-effected at the statutory tax rate of 21% for purposes of calculating net income (loss) in the table above.

The pro forma information does not include any anticipated cost savings or other effects of the Merger. Accordingly, the unaudited pro forma information does not necessarily reflect the actual results that would have occurred, nor is it necessarily indicative of future results of operations.

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Revenue From Contracts With Customers

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

REVENUE FROM CONTRACTS WITH CUSTOMERS:

The following tables disaggregate the Company's revenue from contracts with customers by product type and market:

	Three Months Ended September 30, 2025
	Domestic		Export		Total
Power Generation	$	398,529	$	84,774	$	483,303
Industrial	32,324		178,409		210,733
Metallurgical	47,577		252,168		299,745
Total Coal Revenue	478,430		515,351		993,781
Third-Party Terminal Revenue					5,591
Other Revenue					3,171
Total Revenue from Contracts with Customers					$	1,002,543

	Three Months Ended September 30, 2024
	Domestic		Export		Total
Power Generation	$	163,769	$	74,337	$	238,106
Industrial	2,485		195,656		198,141
Metallurgical	8,200		97,698		105,898
Total Coal Revenue	174,454		367,691		542,145
Third-Party Terminal Revenue					7,490
Other Revenue					3,797
Total Revenue from Contracts with Customers					$	553,432

	Nine Months Ended September 30, 2025
	Domestic		Export		Total
Power Generation	$	1,154,972	$	238,671	$	1,393,643
Industrial	98,494		587,849		686,343
Metallurgical	115,135		901,281		1,016,416
Total Coal Revenue	1,368,601		1,727,801		3,096,402
Third-Party Terminal Revenue					15,087
Other Revenue					10,821
Total Revenue from Contracts with Customers					$	3,122,310

	Nine Months Ended September 30, 2024
	Domestic		Export		Total
Power Generation	$	515,159	$	186,118	$	701,277
Industrial	13,636		571,454		585,090
Metallurgical	31,222		238,636		269,858
Total Coal Revenue	560,017		996,208		1,556,225
Third-Party Terminal Revenue					22,689
Other Revenue					11,927
Total Revenue from Contracts with Customers					$	1,590,841

Coal Revenue

The Company has disaggregated its coal revenue between domestic and export revenues, as well as between the industrial, power generation and metallurgical markets. Domestic coal revenue tends to be derived from contracts that typically have a term of one year or longer, and the pricing is typically fixed. Historically, export coal revenue tended to be

derived from spot or shorter-term contracts with pricing determined closer to the time of shipment or based on a market index; however, the Company has secured several long-term export contracts with varying pricing arrangements.

The Company's coal revenue is recognized when the performance obligation has been satisfied and the corresponding transaction price has been determined. Generally, title passes when coal is loaded at the coal preparation facilities, at terminal locations or other customer destinations. The Company's coal contract revenue per ton is fixed or determinable based upon either fixed forward pricing or pricing derived from established indices and adjusted for nominal quality characteristics. Some coal contracts also contain positive electric power price-related adjustments, which represent market-driven price adjustments, in addition to a fixed base price per ton. The Company’s coal contracts generally do not allow for retroactive adjustments to pricing after title to the coal has passed and do not have significant financing components.

The estimated transaction price from each of the Company's contracts is based on the total amount of consideration to which the Company expects to be entitled under the contract. Included in the transaction price for certain coal supply contracts is the impact of variable consideration, including quality price adjustments, handling services and per ton price fluctuations based on certain coal sales price indices. The estimated transaction price for each contract is allocated to the Company's performance obligations based on relative stand-alone selling prices determined at contract inception. The Company has determined that each ton of coal represents a separate and distinct performance obligation.

While the Company does, from time to time, experience costs of obtaining coal customer contracts with amortization periods greater than one year, those costs are generally immaterial. At September 30, 2025 and December 31, 2024, the Company did not have any capitalized costs to obtain customer contracts on its Consolidated Balance Sheets. As of and for the three and nine months ended September 30, 2025 and 2024, the Company has not recognized any amortization of previously existing capitalized costs of obtaining customer contracts. Further, the Company has not recognized any coal revenue in the current period that is not a result of current period performance.

Terminal Revenue

Terminal revenues are attributable to the Company's Baltimore Marine Terminal and include revenues earned from providing receipt and unloading of coal from rail cars, transporting coal from the receipt point to temporary storage or stockpile facilities located at the terminal, stockpiling, blending, weighing, sampling, redelivery and loading of coal onto vessels. Revenues for these services are earned and performance obligations are considered fulfilled as the services are performed.

The Baltimore Marine Terminal does not normally experience material costs of obtaining customer contracts with amortization periods greater than one year. At September 30, 2025 and December 31, 2024, the Company did not have any capitalized costs to obtain customer contracts on its Consolidated Balance Sheets. As of and for the three and nine months ended September 30, 2025 and 2024, the Company has not recognized any amortization of previously existing capitalized costs of obtaining terminal customer contracts. Further, the Company has not recognized any terminal revenue in the current period that is not a result of current period performance.

Other Revenue

Other revenue consists of revenue generated from carbon products and materials businesses led by CONSOL Innovations LLC, our wholly-owned subsidiary. This revenue is primarily comprised of sales of carbon-based tools, parts and materials that are used in the aerospace and other industries. Revenues for these products are earned and recognized as the tools are built and progress toward product completion. Additionally, other revenue consists of revenue generated from the processing of third-party coal at various mining complexes. Revenues for these services are earned and performance obligations are considered fulfilled as the services are performed.

Contract Balances

Contract assets, when present, are recorded separately from trade receivables in the Company's Consolidated Balance Sheets and are reclassified to trade receivables as title passes to the customer and the Company's right to consideration becomes unconditional. Credit is extended based on an evaluation of a customer's financial condition, a customer's ability to perform its obligations and other relevant factors. The Company typically does not have material contract assets that are stated separately from trade receivables since the Company's performance obligations are satisfied as control of the goods or services passes to the customer, thereby granting the Company an unconditional right to receive consideration. Contract liabilities relate to consideration received in advance of the satisfaction of the Company's performance obligations. Contract liabilities are recognized as revenue at the point in time when control of the goods passes to the customer, or over time when services are provided.

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Components of Pension and Other Post-Employment Benefit (OPEB) Plans Net Periodic Benefit Costs

9 Months Ended

Sep. 30, 2025

Retirement Benefits [Abstract]

Components of Pension and Other Post-Employment Benefit (OPEB) Plans Net Periodic Benefit Costs

COMPONENTS OF PENSION AND OTHER POST-EMPLOYMENT BENEFIT (OPEB) PLANS NET PERIODIC BENEFIT COSTS:

The components of Net Periodic Benefit Cost were as follows:

	Pension Benefits								OPEB
	Three Months Ended September 30,				Nine Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024		2025		2024		2025		2024
Service Cost	$	275	$	302	$	825	$	906	$	38	$	—	$	108	$	—
Interest Cost	6,343		6,431		19,028		19,293		2,992		2,758		8,884		8,274
Expected Return on Plan Assets	(7,565)		(7,991)		(22,695)		(23,973)		—		—		—		—
Amortization of Prior Service Credits	—		—		—		—		(601)		(601)		(1,803)		(1,804)
Amortization of Actuarial Loss (Gain)	2,159		1,567		6,475		4,699		(683)		(70)		(2,052)		(209)
Net Periodic Benefit Cost	$	1,212	$	309	$	3,633	$	925	$	1,746	$	2,087	$	5,137	$	6,261

Service costs related to pension and other post-employment benefits are reflected in Cost of Sales in the Consolidated Statements of Income (Loss). All other expenses related to pension and other post-employment benefits are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Consolidated Statements of Income (Loss). Amounts reclassified out of accumulated other comprehensive (loss) income are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Consolidated Statements of Income (Loss).

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Components of Coal Workers' Pneumoconiosis (CWP) and Workers' Compensation Net Periodic Benefit Costs

9 Months Ended

Sep. 30, 2025

Retirement Benefits [Abstract]

Components of Coal Workers' Pneumoconiosis (CWP) and Workers' Compensation Net Periodic Benefit Costs

COMPONENTS OF COAL WORKERS’ PNEUMOCONIOSIS (CWP) AND WORKERS’ COMPENSATION NET PERIODIC BENEFIT COSTS:

The components of Net Periodic Benefit Cost were as follows:

	CWP								Workers' Compensation
	Three Months Ended September 30,				Nine Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024		2025		2024		2025		2024
Service Cost	$	2,003	$	746	$	5,809	$	2,239	$	1,728	$	1,465	$	5,184	$	4,393
Interest Cost	3,687		2,066		10,776		6,198		555		572		1,665		1,717
Amortization of Actuarial Loss (Gain)	42		109		127		326		(460)		(540)		(1,380)		(1,620)
Fees, Premiums and Assessments	—		—		—		—		2,273		464		6,383		1,393
Net Periodic Benefit Cost	$	5,732	$	2,921	$	16,712	$	8,763	$	4,096	$	1,961	$	11,852	$	5,883

Service costs and fees, premiums and assessments related to CWP and workers’ compensation are reflected in Cost of Sales in the Consolidated Statements of Income (Loss). All other expenses related to CWP and workers’ compensation are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Consolidated Statements of Income (Loss). Amounts reclassified out of accumulated other comprehensive (loss) income are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Consolidated Statements of Income (Loss).

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Income Taxes

9 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES:

The Company recorded its provision for income taxes for the three and nine months ended September 30, 2025 of ($52,998) and ($50,098), respectively, or 247.7% and 40.3%, respectively, of loss before income tax based on its annual estimated income tax rate adjusted for discrete items. The effective tax rate for the three months ended September 30, 2025 differed from the U.S. federal statutory rate of 21% primarily due to a change in the Company’s annual estimated income tax rate and a tax benefit for excess percentage depletion. The effective tax rate for the nine months ended September 30, 2025 differed from the U.S. federal statutory rate of 21% primarily due to a tax benefit for excess percentage depletion.

The tax provision for the nine months ended September 30, 2025 also included discrete tax adjustments primarily related to transaction costs and equity compensation.

The provision for income taxes for the three and nine months ended September 30, 2024 of $17,539 and $43,409, respectively, or 15.5% and 14.5%, respectively, of earnings before income tax was based on the Company's annual estimated income tax rate adjusted for discrete items. The effective tax rate for the three and nine months ended September 30, 2024 differed from the U.S. federal statutory rate of 21% primarily due to the tax benefit for excess percentage depletion and foreign derived intangible income. The tax provision also included discrete tax adjustments related to equity compensation and changes to uncertain tax positions.

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Cash and Cash Equivalents, Restricted Cash and Short-Term Investments

9 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Cash and Cash Equivalents, Restricted Cash and Short-Term Investments

CASH AND CASH EQUIVALENTS, RESTRICTED CASH AND SHORT-TERM INVESTMENTS:

The following table disaggregates the Company's cash, cash equivalents and restricted cash, which reconciles to the total shown on the Consolidated Statements of Cash Flows:

	September 30,
	2025		2024
Cash and Cash Equivalents	$	444,672	$	331,674
Restricted Cash - Current (a)	42,036		37,941
Restricted Cash - Noncurrent (a)	124,873		—
Cash and Cash Equivalents and Restricted Cash	$	611,581	$	369,615

(a) Restricted Cash - Current and Restricted Cash - Noncurrent are included in Other Current Assets and Funds for Asset Retirement Obligations, respectively, in the accompanying Consolidated Balance Sheets.

The components of cash and cash equivalents and restricted cash as of December 31, 2024 and 2023 are disclosed in Note 6 in the Notes to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 20, 2025.

The Company had invested in marketable debt securities, primarily comprised of highly liquid U.S. Treasury securities. These investments were held in the custody of financial institutions. The securities outstanding were classified as available-for-sale securities, matured within twelve months of the acquisition date and were classified as current assets accordingly. During the first quarter of 2025, the Company liquidated its remaining investments in U.S. Treasury securities.

The Company's investments in available-for-sale securities were as follows:

	December 31, 2024
					Gross Unrealized
	Amortized Cost		Allowance for Credit Losses		Gains		Losses		Fair Value
U.S. Treasury Securities	$	51,885	$	—	$	120	$	(12)	$	51,993

Available-for-sale investments are reported at fair value in the accompanying Consolidated Balance Sheet and any unrealized gains or losses are recognized in Accumulated Other Comprehensive Loss. Any unrealized gains or losses in the Company's portfolio are a result of normal market fluctuations. Interest and dividends are included in net income (loss) when earned.

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Credit Losses

9 Months Ended

Sep. 30, 2025

Credit Loss [Abstract]

Credit Losses

CREDIT LOSSES:

Trade receivables are recorded at the invoiced amount. Credit is extended based on an evaluation of a customer's financial condition, a customer's ability to perform its obligations and other relevant factors. Trade receivable balances are monitored against approved credit terms. Credit terms are reviewed and adjusted as considered necessary based on changes to a customer's credit profile. If a customer's credit deteriorates, the Company may reduce credit risk exposure by reducing credit terms, obtaining letters of credit, obtaining credit insurance or requiring pre-payment for shipments. Other non-trade contractual arrangements consist primarily of overriding royalty agreements and other financial arrangements between the Company and various counterparties.

The Company may be at risk of exposure to credit losses primarily through sales of products and services. The Company's expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade and other accounts receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on an aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts may be necessary from time to time and are established to record the appropriate provision for customers that have a higher probability of default. The Company's monitoring activities include timely account reconciliations, dispute resolution, payment confirmation and consideration of macroeconomic conditions and customers' financial conditions. Balances are written off when deemed uncollectible.

Management estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for changes to the assessment of anticipated payment, changes in economic conditions, current industry trends in the markets the Company serves and changes in the financial health of the Company's counterparties.

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable and other non-trade contractual arrangements to present the net amount expected to be collected:

	Trade Receivables		Other Non-Trade Contractual Arrangements
Beginning Balance, December 31, 2024	$	1,265	$	7,625
Provision for Expected Credit Losses	(729)		(77)
Ending Balance, September 30, 2025	$	536	$	7,548

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Inventories

9 Months Ended

Sep. 30, 2025

Inventory Disclosure [Abstract]

Inventories

INVENTORIES:

Inventory components consisted of the following:

	September 30, 2025		December 31, 2024
Coal	$	162,468	$	17,480
Supplies	245,032		78,721
Total Inventories	$	407,500	$	96,201

Inventories are stated at the lower of cost or net realizable value. The cost of coal inventories is determined by the first-in, first-out method. Coal inventory costs include labor, supplies, equipment costs, operating overhead, depreciation, depletion, amortization and other related costs. The cost of supplies inventory is determined by the average cost method and includes operating and maintenance supplies to be used in the Company's coal operations.

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Accounts Receivable Securitization

9 Months Ended

Sep. 30, 2025

Receivables [Abstract]

Accounts Receivable Securitization

ACCOUNTS RECEIVABLE SECURITIZATION:

At September 30, 2025, certain U.S. subsidiaries of Core Natural Resources, Inc. were parties to a trade accounts receivable securitization facility with financial institutions for the sale on a continuous basis of eligible trade accounts receivable. On July 28, 2025, the Company and certain of its subsidiaries entered into (i) that certain Receivables Financing Agreement (the “Receivables Financing Agreement”), by and among Core Receivable Company, LLC, as borrower (the “Borrower”), Core Sales, LLC, as the initial servicer (the “Servicer”), PNC Bank, National Association (“PNC”), as administrative agent and LC bank, PNC Capital Markets LLC (“PNC CM”), as structuring agent, and the lenders from time to time party thereto; (ii) that certain Third Amended and Restated Sale and Contribution Agreement (the “Sale and Contribution Agreement”), by and among the Borrower, the Servicer and Arch, as transferor; (iii) that certain Third Amended and Restated Purchase and Sale Agreement (the “Purchase and Sale Agreement”), by and among Arch, the Servicer and the originators party thereto; and (iv) that certain Fifth Amended and Restated Performance Guaranty (the “Performance Guaranty” and, together with the Receivables Financing Agreement, the Sale and Contribution Agreement

and the Purchase and Sale Agreement, the “Receivables Documents”). With entry into the Receivables Documents, legacy Arch’s securitization facility was amended and restated in its entirety to, among other things, consolidate facilities and extend the maturity date to July 27, 2028, and legacy CONSOL’s securitization facility was terminated effective July 28, 2025.

Pursuant to the Receivables Financing Agreement, Core Sales, LLC; Mingo Logan Coal LLC; Mountain Coal Company, L.L.C.; ICG Beckley, LLC; ICG Tygart Valley, LLC; Wolf Run Mining LLC; Thunder Basin Coal Company, L.L.C.; CONSOL Pennsylvania Coal Company LLC; CONSOL Marine Terminals LLC; and Itmann Mining Company LP, all wholly-owned subsidiaries of the Company, sell and/or contribute trade receivables to Core Receivable Company, LLC, a special purpose vehicle and wholly-owned subsidiary of the Company (“Core Receivable,” and together with the special purpose vehicle associated with legacy CONSOL’s securitization facility, the “SPVs”). Core Receivable, in turn, pledges its interests in the receivables to PNC and/or Regions Bank, which either make loans or issue letters of credit on behalf of Core Receivable. The maximum amount of advances and letters of credit outstanding under the Receivables Financing Agreement may not exceed $250 million.

Loans under the Receivables Financing Agreement accrue interest at a reserve-adjusted market index rate equal to the applicable term Secured Overnight Financing Rate (“SOFR”) rate plus ten basis points. Loans and letters of credit under the Receivables Financing Agreement also accrue a drawn fee and a letter of credit participation fee, respectively, of 2.00% per annum. In connection with the Receivables Financing Agreement, the Borrower paid certain structuring fees to PNC CM and pays other customary fees to the lenders, including a fee on unused commitments equal to 0.60% per annum.

At September 30, 2025, the Company's eligible accounts receivable yielded $220,559 of borrowing capacity. At September 30, 2025, the facility had no outstanding borrowings and $191,125 of letters of credit outstanding, leaving an available borrowing capacity of $29,434. At December 31, 2024, the Company's eligible accounts receivable yielded $71,964 of borrowing capacity. At December 31, 2024, legacy CONSOL’s securitization facility had no outstanding borrowings and $71,922 of letters of credit outstanding, leaving an available borrowing capacity of $42. The Company has not derecognized any receivables due to its continued involvement in the collections efforts.

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Property, Plant and Equipment

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

PROPERTY, PLANT AND EQUIPMENT:

Property, plant and equipment consisted of the following:

	September 30, 2025		December 31, 2024
Plant and Equipment	$	4,774,817	$	3,633,741
Coal Properties and Surface Lands	2,225,310		913,819
Airshafts	592,493		521,334
Mine Development	673,946		366,260
Advance Mining Royalties	337,248		328,927
Total Property, Plant and Equipment	8,603,814		5,764,081
Less: Accumulated Depreciation, Depletion and Amortization	4,213,432		3,842,382
Total Property, Plant and Equipment - Net	$	4,390,382	$	1,921,699

As of September 30, 2025 and December 31, 2024, property, plant and equipment included gross assets under finance leases of $50,169 and $40,804, respectively. Accumulated amortization for finance leases was $16,981 and $16,929 at September 30, 2025 and December 31, 2024, respectively. Amortization expense for assets under finance leases approximated $3,358 and $2,110 for the three months ended September 30, 2025 and 2024, respectively, and $9,315 and $7,652 for the nine months ended September 30, 2025 and 2024, respectively, and is included in Depreciation, Depletion and Amortization in the accompanying Consolidated Statements of Income (Loss).

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Other Accrued Liabilities

9 Months Ended

Sep. 30, 2025

Other Liabilities Disclosure [Abstract]

Other Accrued Liabilities

OTHER ACCRUED LIABILITIES:

Other accrued liabilities consisted of the following:

	September 30, 2025		December 31, 2024
Subsidence Liability	$	118,191	$	88,259
Accrued Compensation and Benefits	57,563		54,138
Accrued Other Taxes	50,759		6,973
Other	67,594		31,928
Current Portion of Long-Term Liabilities:
Asset Retirement Obligations	41,496		35,554
Pneumoconiosis Benefits	25,259		16,389
Postretirement Benefits Other than Pensions	21,422		17,887
Workers' Compensation	17,360		11,056
Total Other Accrued Liabilities	$	399,644	$	262,184

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Long-Term Debt

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Long-Term Debt

LONG-TERM DEBT:

Long-term debt consisted of the following:

	September 30, 2025		December 31, 2024
WVEDA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45%	$	106,355	$	—
MEDCO Port Facilities Refunding Revenue Bonds due March 2035 at 5.00% and 5.75% at September 30, 2025 and December 31, 2024, respectively	102,865		102,865
PEDFA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45% and 9.00% at September 30, 2025 and December 31, 2024, respectively	97,560		75,000
Equipment Financing (7.56% Weighted-Average Interest Rate)	73,010		—
Advance Royalty Commitments (8.10% Weighted-Average Interest Rate)	6,148		6,148
Other Debt Arrangements	5,071		664
Less: Unamortized Debt Issuance Costs	(6,716)		(1,213)
	384,293		183,464
Less: Amounts Due in One Year (a)	(71,072)		(103,940)
Long-Term Debt	$	313,221	$	79,524

(a) Excludes current portion of Finance Lease Obligations of $12,724 and $8,925 at September 30, 2025 and December 31, 2024, respectively.

Revolving Credit Facility

In November 2017, the Company entered into a revolving credit facility with PNC (the “Revolving Credit Facility”). The Revolving Credit Facility has been amended several times, the most recent of which occurred in January 2025 in connection with the Merger. This amendment increased the available revolving commitments from $355 million to $600 million while extending the scheduled maturity date to April 30, 2029. Additionally, the Company reduced the applicable interest margin on its borrowings and letters of credit under the Revolving Credit Facility by 75 basis points.

Borrowings under the Revolving Credit Facility bear interest at a floating rate that is, at the Company's option, either (i) SOFR plus a SOFR adjustment of 0.10% plus an applicable margin or (ii) an alternate base rate plus an applicable margin. The applicable margin for the Revolving Credit Facility depends on the Company's total net leverage ratio and this rate resets quarterly. Obligations under the Revolving Credit Facility are guaranteed by (i) all owners of the PAMC held by the Company and (ii) subject to certain customary exceptions and agreed materiality thresholds, all other existing or future direct or indirect wholly-owned restricted subsidiaries of the Company, including significant subsidiaries acquired pursuant to the Merger. The obligations are secured by, subject to certain exceptions (including a limitation of pledges of equity

interests in certain subsidiaries and certain thresholds with respect to real property), a first-priority lien on the Company's and certain subsidiaries' significant assets.

The Revolving Credit Facility contains a number of customary affirmative covenants and a number of negative covenants, including (subject to certain exceptions) limitations on (among other things): indebtedness, liens, investments, acquisitions, dispositions, restricted payments and prepayments of junior indebtedness. The Revolving Credit Facility also includes covenants relating to (i) a maximum first lien gross leverage ratio, (ii) a maximum total net leverage ratio, and (iii) a minimum interest coverage ratio. The maximum first lien gross leverage ratio is calculated as the ratio of Consolidated First Lien Debt to Consolidated EBITDA. Consolidated EBITDA, as used in the covenant calculation, excludes non-cash compensation expenses, non-recurring transaction expenses, extraordinary gains and losses, gains and losses on discontinued operations and gains and losses on debt extinguishment. The maximum total net leverage ratio is calculated as the ratio of Consolidated Indebtedness, minus Cash on Hand, to Consolidated EBITDA. The minimum interest coverage ratio is calculated as the ratio of Consolidated EBITDA to Consolidated Cash Interest Expense. Consolidated Cash Interest Expense, as used in the covenant calculation, includes cash interest payments, net of any cash interest income. Under the Revolving Credit Facility, the maximum first lien gross leverage ratio shall be 1.50 to 1.00, the maximum total net leverage ratio shall be 2.50 to 1.00 and the minimum interest coverage ratio shall be 3.00 to 1.00.

The Company's first lien gross leverage ratio was 0.18 to 1.00 at September 30, 2025. The Company's total net leverage ratio was (0.04) to 1.00 at September 30, 2025. The Company's interest coverage ratio was 50.13 to 1.00 at September 30, 2025. The Company was in compliance with all covenants under the Revolving Credit Facility as of September 30, 2025.

At September 30, 2025, the Revolving Credit Facility had no borrowings outstanding and $78,663 of letters of credit outstanding, leaving $521,337 of unused capacity. At December 31, 2024, the Revolving Credit Facility had no borrowings outstanding and $107,087 of letters of credit outstanding, leaving $247,913 of unused capacity. From time to time, the Company is required to post financial assurances to satisfy contractual and other requirements generated in the normal course of business. Some of these assurances are posted to comply with federal, state or other government agencies' statutes and regulations. The Company sometimes uses letters of credit to satisfy these requirements, and these letters of credit reduce the Company's borrowing facility capacity.

The SPVs are not guarantors of the Revolving Credit Facility, and the SPVs either hold the assets pledged to the lenders or sell the assets to the lenders in the securitization facility. The SPVs had total assets of $326,734 and $133,853, comprised mainly of $325,591 and $133,694 trade receivables, net, at September 30, 2025 and December 31, 2024, respectively. Net income attributable to the SPVs was $3,776 and $528 for the three months ended September 30, 2025 and 2024, respectively, and $8,408 and $775 for the nine months ended September 30, 2025 and 2024, respectively, which was primarily attributable to intercompany fees paid to purchase the receivables, which have been eliminated in the Consolidated Financial Statements contained within this Quarterly Report on Form 10-Q. During the nine months ended September 30, 2025, there were no borrowings or payments under the accounts receivable securitization facilities. During the nine months ended September 30, 2024, there were no borrowings or payments under legacy CONSOL’s securitization facility. See Note 10 - Accounts Receivable Securitization for additional information.

Series 2025 Bonds

In connection with the Merger, on January 13, 2025, the Company purchased the Arch Bonds. The Company also consented to the release of all liens, mortgages and security interests granted or purported to be granted pursuant to the security documents relating to the Arch Bonds and to the termination of all such security documents. The $98,075 of Arch Bonds purchased by the Company constituted all of the outstanding Arch Bonds.

On March 27, 2025, the Company borrowed the proceeds of tax-exempt bonds issued by (i) the Pennsylvania Economic Development Financing Authority (“PEDFA”) in the aggregate principal amount of $97,560 (the “PEDFA Bonds”), at a fixed rate of 5.45% for an initial term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among Jefferies LLC, as the representative acting on behalf of itself, KeyBanc Capital Markets Inc., PNC CM, Goldman Sachs & Co. LLC, B. Riley Securities, Inc. and TCBI Securities, Inc. (collectively, the “Underwriters”), PEDFA and the Company; (ii) the Maryland Economic Development Corporation (“MEDCO”) in the aggregate principal amount of $102,865 (the “MEDCO Bonds”), at a fixed rate of 5.00% for an initial term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among the Underwriters, MEDCO and the Company; and (iii) the West Virginia Economic Development Authority (“WVEDA”) in the aggregate principal amount of $106,355 (the “WVEDA Bonds” and together with the PEDFA Bonds and the MEDCO Bonds, the “Bonds”), at a fixed rate of 5.45% for an initial term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among the Underwriters, WVEDA and the Company.

The Company used (i) a portion of the proceeds of the PEDFA Bonds to finance and refinance the costs of acquisition, construction, improvement, installation and equipping of certain solid waste disposal facilities located at the Central Preparation Plant in West Finley, Pennsylvania in part by refunding in full PEDFA’s outstanding $75,000 Solid Waste Disposal Revenue Bonds, Series 2021A (CONSOL Energy Inc. Project), (ii) the proceeds from the MEDCO Bonds to refinance the costs of acquisition, construction, improvement, installation and equipping of certain improvements, modifications and additions to a coal transshipment terminal located in the Canton area of the Port of Baltimore by refunding in full MEDCO’s outstanding $102,865 Port Facilities Refunding Revenue Bonds (CNX Marine Terminals Inc. Port of Baltimore Facility) Series 2010 and (iii) a portion of the proceeds of the WVEDA Bonds to finance and refinance the costs of acquisition, construction, improvement, installation and equipping of certain solid waste disposal facilities relating to a longwall coal mining complex known as the Leer South Mine located in Barbour County, West Virginia in part by refunding in full WVEDA’s outstanding $53,090 Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2020 and $44,985 Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2021.

The (i) PEDFA Bonds were issued pursuant to an indenture (the “PEDFA Indenture”), dated March 1, 2025, by and between PEDFA and Wilmington Trust, National Association, as trustee (the “Trustee”), and PEDFA made a loan of the proceeds of the PEDFA Bonds to the Company pursuant to a Loan Agreement, dated March 1, 2025 (the “PEDFA Loan Agreement”), between PEDFA and the Company; (ii) MEDCO Bonds were issued pursuant to an indenture (the “MEDCO Indenture”), dated March 1, 2025, by and between MEDCO and the Trustee, and MEDCO made a loan of the proceeds of the MEDCO Bonds to the Company pursuant to a Loan Agreement, dated March 1, 2025 (the “MEDCO Loan Agreement”), between MEDCO and the Company; and (iii) WVEDA Bonds were issued pursuant to an indenture (the “WVEDA Indenture” and together with the PEDFA Indenture and the MEDCO Indenture, the “Indentures”), dated March 1, 2025, by and between WVEDA and the Trustee, and WVEDA made a loan of the proceeds of the WVEDA Bonds to the Company pursuant to a Loan Agreement, dated as of March 1, 2025 (the “WVEDA Loan Agreement” and together with the PEDFA Loan Agreement and MEDCO Loan Agreement, the “Loan Agreements”), between WVEDA and the Company. Under the terms of the Loan Agreements, the Company agreed to make all payments of principal, interest and other amounts at any time due on the respective Bonds or under the respective Indenture.

As a result of these transactions, a loss of $11,680 was incurred and is included in Loss on Debt Extinguishment on the Consolidated Statement of Income (Loss) for the nine months ended September 30, 2025.

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Commitments and Contingent Liabilities

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

COMMITMENTS AND CONTINGENT LIABILITIES:

The Company is subject to various lawsuits and claims with respect to such matters as personal injury, wrongful death, damage to property, exposure to hazardous substances, governmental regulations including environmental remediation, employment and contract disputes and other claims and actions arising out of the normal course of business. The Company accrues the estimated loss for these lawsuits and claims when the loss is probable and reasonably estimable. The Company’s estimated accruals related to pending claims not discussed below, individually and in the aggregate, were immaterial to the financial position, results of operations or cash flows of the Company as of September 30, 2025. It is possible that the aggregate loss in the future with respect to these lawsuits and claims could ultimately be material to the Company’s financial position, results of operations or cash flows; however, such amounts cannot be reasonably estimated. The amount claimed against the Company as of September 30, 2025 is disclosed below when an amount is expressly stated in the lawsuit or claim, which is not often the case.

United Mine Workers of America 1992 Benefit Plan Litigation: In 2013, Murray Energy and its subsidiaries (“Murray”) entered into a stock purchase agreement (the “Murray sale agreement”) with the Company's former parent, pursuant to which Murray acquired the stock of Consolidation Coal Company and certain subsidiaries and certain other assets and liabilities. At the time of sale, the liabilities included certain retiree medical liabilities under the Coal Industry Retiree Health Benefit Act of 1992 (“Coal Act”) and certain federal black lung liabilities under the Black Lung Benefits Act (“BLBA”). Murray filed for Chapter 11 bankruptcy in October 2019. As part of the bankruptcy proceedings, Murray unilaterally entered into a settlement with the United Mine Workers of America 1992 Benefit Plan (the “1992 Benefit Plan”) to transfer retirees in the Murray Energy Section 9711 Plan to the 1992 Benefit Plan. This was approved by the bankruptcy court on April 30, 2020. On May 2, 2020, the 1992 Benefit Plan filed an action in the U.S. District Court for the District of Columbia asking the court to make a determination whether the Company's former parent or the Company has any continuing retiree medical liabilities under the Coal Act (the “1992 Plan Lawsuit”). The Murray sale agreement includes indemnification by Murray with respect to the Coal Act and BLBA liabilities. In addition, the Company had agreed to indemnify its former parent relative to certain pre-separation liabilities. As of September 16, 2020, the Company entered into a settlement agreement with Murray and withdrew its claims in bankruptcy. On September 11, 2020, the Defendants in the 1992 Plan Lawsuit filed a Motion to Dismiss Plaintiffs' Second Amended Complaint which was denied by the Court on March 29, 2022. In October 2025, both parties filed a motion for summary judgment. In the 1992 Benefit Plan’s summary judgment motion, it alleged it is entitled to recover reimbursement for unpaid monthly benefits premiums from the beginning of the lawsuit to present in the amount of $64.8 million, plus interest and damages totaling

$25.6 million, as well as an unspecified amount of attorneys’ fees. Based upon limited information available at the time of the Murray bankruptcy, the Company estimated that the future annual servicing costs of these liabilities in 2026 are approximately $10 million, and the annual servicing cost would decline each year since the beneficiaries of the Coal Act consist principally of miners who retired prior to 1994. The Company will continue to vigorously defend any claims that attempt to transfer any of such liabilities directly or indirectly to the Company, including raising all applicable defenses against the 1992 Benefit Plan’s suit. With respect to this lawsuit, while a loss is reasonably possible, it is not probable and, as a result, no accrual has been recorded.

The Company and various subsidiaries are defendants in certain other legal proceedings. In the opinion of management, based upon an investigation of these matters and discussion with legal counsel, the ultimate outcome of such other legal proceedings, individually and in the aggregate, is not expected to have a material adverse effect on the Company’s financial position, results of operations or liquidity.

The following is a summary, as of September 30, 2025, of the financial guarantees, unconditional purchase obligations and letters of credit to certain third parties. Employee-related financial guarantees have primarily been provided to support the 1992 Benefit Plan and federal black lung and various state workers' compensation self-insurance programs. Environmental financial guarantees have primarily been provided to support various performance bonds related to reclamation and other environmental issues. Other financial guarantees have been extended to support sales contracts, insurance policies, surety indemnity agreements, legal matters, full and timely payments of mining equipment leases, and various other items necessary in the normal course of business. These amounts represent the maximum potential of total future payments that the Company could be required to make under these instruments. Certain letters of credit included in the table below were issued against other commitments included in this table. These amounts have not been reduced for potential recoveries under recourse or collateralization provisions. Generally, recoveries under reclamation bonds would be limited to the extent of the work performed at the time of the default. No amounts related to these commitments are recorded as liabilities in the financial statements. The Company's management believes that these commitments will not have a material adverse effect on the Company's financial condition.

	Amount of Commitment Expiration per Period
	Total Amounts Committed		Less Than 1 Year		1-3 Years		3-5 Years		Beyond 5 Years
Letters of Credit:
Employee-Related	$	119,744	$	100,091	$	19,653	$	—	$	—
Environmental	398		398		—		—		—
Other	149,646		137,754		11,892		—		—
Total Letters of Credit	$	269,788	$	238,243	$	31,545	$	—	$	—
Surety Bonds:
Employee-Related	$	120,341	$	110,891	$	9,450	$	—	$	—
Environmental	819,060		563,502		255,558		—		—
Other	29,000		24,282		4,718		—		—
Total Surety Bonds	$	968,401	$	698,675	$	269,726	$	—	$	—

The Company regularly evaluates the likelihood of default for all guarantees based on an expected loss analysis and records the fair value, if any, of its guarantees as an obligation in the Consolidated Financial Statements.

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Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

FAIR VALUE OF FINANCIAL INSTRUMENTS:

The Company determines the fair value of assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair values are based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. The fair value hierarchy is based on whether the inputs to valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources (including SOFR-based discount rates and U.S. Treasury-based rates), while unobservable inputs reflect the Company’s own assumptions of what market participants would use.

The fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below.

Level 1 - Quoted prices for identical instruments in active markets. The Company's Level 1 assets include marketable securities.

Level 2 - The fair value of the assets and liabilities included in Level 2 is based on standard industry income approach models that use significant observable inputs, including SOFR-based discount rates and U.S. Treasury-based rates.

Level 3 - Unobservable inputs significant to the fair value measurement supported by little or no market activity.

In those cases when the inputs used to measure fair value meet the definition of more than one level of the fair value hierarchy, the lowest level input that is significant to the fair value measurement in its totality determines the applicable level in the fair value hierarchy.

The financial instruments measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements at						Fair Value Measurements at
	September 30, 2025						December 31, 2024
Description	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
U.S. Treasury Securities	$	—	$	—	$	—	$	51,993	$	—	$	—
Global Water Treatment Trust Fund (a)	$	15,058	$	—	$	—	$	12,054	$	—	$	—

(a) The Global Water Treatment Trust Fund is included in Funds for Asset Retirement Obligations in the accompanying Consolidated Balance Sheets.

The following methods and assumptions were used to estimate the fair value for which the fair value option was not elected:

Long-term debt: The fair value of long-term debt is measured using unadjusted quoted market prices or estimated using discounted cash flow analyses. The discounted cash flow analyses are based on current market rates for instruments with similar cash flows.

The carrying amounts and fair values of financial instruments for which the fair value option was not elected were as follows:

	September 30, 2025				December 31, 2024
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-Term Debt (Excluding Debt Issuance Costs)	$	391,009	$	408,732	$	184,677	$	199,052

Certain of the Company’s debt is actively traded on a public market and, as a result, constitutes Level 1 fair value measurements. The portion of the Company’s debt obligations that is not actively traded is valued through reference to the applicable underlying benchmark rate and, as a result, constitutes Level 2 fair value measurements.

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Segment Information

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION:

Prior to the completion of the Merger, the Company consisted of two reportable segments, the PAMC segment and the CONSOL Marine Terminal segment. Following completion of the Merger, the Company adjusted its internal reporting structure and the Company's CODM changed the manner in which he measures financial performance and allocates resources. Thus, the Company reassessed its reporting segments and the Company now consists of four reportable segments: (1) the High CV Thermal segment; (2) the Metallurgical segment; (3) the Powder River Basin (“PRB”) segment; and (4) the Baltimore Marine Terminal segment. Accordingly, the manner in which the Company reports its operations has been changed retrospectively, and all relevant prior period amounts have been recast to reflect this change.

The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management to make decisions on and assess performance of the Company’s reportable segments. The Company manages its segments by market and coal quality, not by individual mining complex or geographic region. The High CV Thermal segment contains the Company’s High CV Thermal operations in Pennsylvania, West Virginia, and Colorado; the Metallurgical segment contains the Company’s metallurgical operations in West

Virginia; the PRB segment contains the Company’s surface mining complexes in Wyoming; and the Baltimore Marine Terminal segment contains the Company's coal export terminal operations in the Port of Baltimore.

The Company’s CODM is the chief executive officer, who utilizes Adjusted EBITDA to monitor each segment. Adjusted EBITDA removes financial activity not related to ongoing operations, which allows for a review of more streamlined operating results. It is used by the CODM to review the budget versus actual results and to evaluate the operating performance of each segment. This review and evaluation is utilized by the CODM to determine the best allocation of resources across the segments and for other business purposes.

Reportable segment results for the three months ended September 30, 2025 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	514,721	$	292,694	$	186,366	$	5,591
Intersegment Revenues	—		—		—		14,187
	514,721		292,694		186,366		19,778		$	1,013,559
Other Revenues (a)									3,171
Elimination of Intersegment Revenues									(14,187)
Total Consolidated Revenues									1,002,543
Less: (b)
Cash Costs of Revenue	293,002		209,285		169,945		7,626
Transportation Costs	82,550		66,912		2,830		—
Other Segment Items (c)	—		(975)		—		—
Adjusted EBITDA	$	139,169	$	17,472	$	13,591	$	12,152	$	182,384
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									679
Depreciation, Depletion and Amortization									(151,006)
General and Administrative Costs									(34,133)
Interest Expense									(10,606)
Interest Income									7,578
Non-Service Related Pension and Postretirement Benefit Costs									(6,562)
Idle Mine Costs									(5,080)
Other Operating Expense, net									(1,742)
Other Cost of Sales									(2,912)
Loss Before Income Tax									$	(21,400)

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	2,179,909	$	2,140,661	$	422,024	$	92,521	$	1,360,773	$	6,195,888
Depreciation, Depletion and Amortization	$	52,842	$	65,381	$	8,795	$	1,398	$	22,590	$	151,006
Capital Expenditures	$	40,642	$	2,719	$	1,876	$	3,104	$	956	$	49,297

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2025.

Reportable segment results for the three months ended September 30, 2024 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	517,720	$	24,425	$	—	$	7,490
Intersegment Revenues	—		—		—		16,250
	517,720		24,425		—		23,740		$	565,885
Other Revenues (a)									3,797
Elimination of Intersegment Revenues									(16,250)
Total Consolidated Revenues									553,432
Less: (b)
Cash Costs of Revenue	245,252		31,394		—		6,919
Transportation Costs	77,990		1,666		—		—
Other Segment Items (c)	(1,701)		—		—		—
Adjusted EBITDA	$	196,179	$	(8,635)	$	—	$	16,821	$	204,365
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									1,042
Depreciation, Depletion and Amortization									(53,329)
General and Administrative Costs									(36,151)
Interest Expense									(4,664)
Interest Income									5,016
Non-Service Related Pension and Postretirement Benefit Costs									(4,400)
Idle Mine Costs									(1,291)
Other Operating Income, net									7,685
Other Cost of Sales									(5,102)
Earnings Before Income Tax									$	113,171

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	1,778,921	$	130,021	$	—	$	87,602	$	827,573	$	2,824,117
Depreciation, Depletion and Amortization	$	42,306	$	2,056	$	—	$	1,276	$	7,691	$	53,329
Capital Expenditures	$	30,743	$	4,484	$	—	$	2,805	$	1,356	$	39,388

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2024.

Reportable segment results for the nine months ended September 30, 2025 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	1,663,307	$	897,268	$	535,827	$	15,087
Intersegment Revenues	—		—		—		48,488
	1,663,307		897,268		535,827		63,575		$	3,159,977
Other Revenues (a)									10,821
Elimination of Intersegment Revenues									(48,488)
Total Consolidated Revenues									3,122,310
Less: (b)
Cash Costs of Revenue	927,621		634,425		471,349		23,028
Transportation Costs	275,363		210,982		8,030		—
Other Segment Items (c)	—		56,674		—		—
Adjusted EBITDA	$	460,323	$	(4,813)	$	56,448	$	40,547	$	552,505
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									2,291
Depreciation, Depletion and Amortization									(441,825)
General and Administrative Costs									(158,285)
Interest Expense									(28,676)
Interest Income									20,297
Loss on Debt Extinguishment									(11,680)
Non-Service Related Pension and Postretirement Benefit Costs									(19,301)
Idle Mine Costs									(14,644)
Other Operating Income, net									3,169
Other Cost of Sales									(28,184)
Loss Before Income Tax									$	(124,333)

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	2,179,909	$	2,140,661	$	422,024	$	92,521	$	1,360,773	$	6,195,888
Depreciation, Depletion and Amortization	$	156,153	$	186,587	$	25,241	$	4,171	$	69,673	$	441,825
Capital Expenditures	$	122,812	$	57,192	$	6,785	$	5,884	$	10,631	$	203,304

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2025.

Reportable segment results for the nine months ended September 30, 2024 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	1,469,201	$	87,024	$	—	$	22,689
Intersegment Revenues	—		—		—		37,599
	1,469,201		87,024		—		60,288		$	1,616,513
Other Revenues (a)									11,927
Elimination of Intersegment Revenues									(37,599)
Total Consolidated Revenues									1,590,841
Less: (b)
Cash Costs of Revenue	717,948		99,862		—		20,223
Transportation Costs	228,842		7,645		—		—
Other Segment Items (c)	(3,021)		—		—		—
Adjusted EBITDA	$	525,432	$	(20,483)	$	—	$	40,065	$	545,014
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									3,676
Depreciation, Depletion and Amortization									(165,173)
General and Administrative Costs									(77,669)
Interest Expense									(15,063)
Interest Income									14,145
Non-Service Related Pension and Postretirement Benefit Costs									(13,201)
Idle Mine Costs									(4,003)
Other Operating Income, net									17,608
Other Cost of Sales									(6,341)
Earnings Before Income Tax									$	298,993

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	1,778,921	$	130,021	$	—	$	87,602	$	827,573	$	2,824,117
Depreciation, Depletion and Amortization	$	129,146	$	6,267	$	—	$	3,544	$	26,216	$	165,173
Capital Expenditures	$	114,744	$	9,463	$	—	$	7,605	$	5,336	$	137,148

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2024.

Revenues from customers that exceeded 10% of consolidated revenues were as follows:

	Three Months Ended September 30,			Nine Months Ended September 30,
	2025	2024		2025	2024
Customer A (a)	(b)	$	67,016	(b)	$	176,844
Customer B (a)	(b)	$	63,473	(b)	$	172,394

(a) Revenues from this customer were principally included in our High CV Thermal segment.

(b) Revenues during these periods were less than 10% of the Company's consolidated revenues.

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Stock Repurchases

9 Months Ended

Sep. 30, 2025

Equity [Abstract]

Stock Repurchases

STOCK REPURCHASES:

In December 2017, the Company's Board of Directors approved a program to repurchase, from time to time, the Company's outstanding shares of common stock or its 11.00% Senior Secured Second Lien Notes due 2025. This program terminated on December 31, 2024.

On February 18, 2025, the Company's Board of Directors approved a capital return framework that involves a mix of dividends and share repurchases. The repurchase program permits the repurchase, from time to time, of the Company's outstanding shares of common stock in an aggregate amount of up to $1 billion, subject to certain covenants in the Revolving Credit Facility and the agreements relating to the Series 2025 Bonds that limit the Company's ability to repurchase shares of its common stock.

Under the terms of the program, the Company is permitted to make repurchases in the open market, in privately negotiated transactions, accelerated repurchase programs or in structured share repurchase programs. The Company is also authorized to enter into one or more 10b5-1 plans with respect to any of the repurchases. Any repurchases of common stock are to be funded from available cash on hand or short-term borrowings. The program does not obligate the Company to acquire any particular amount of its common stock, and the program can be modified or suspended at any time at the Company’s discretion. The program is conducted in compliance with applicable legal requirements as well as any covenants or other requirements included in the Company's credit agreements, receivables purchase agreements and indentures.

During the nine months ended September 30, 2025 and 2024, the Company repurchased and retired 2,824,033 and 747,351 shares, respectively, of the Company's common stock at an average price of $71.74 and $89.49 per share, respectively.

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Subsequent Events

9 Months Ended

Sep. 30, 2025

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS:

On November 6, 2025, Core announced a $0.10 per share dividend in an aggregate amount of approximately $5.1 million, payable on December 15, 2025 to all stockholders of record as of November 28, 2025.

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Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

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Basis of Presentation (Policies)

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the U.S. (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2025 are not necessarily indicative of the results that may be expected for future periods.

The Consolidated Balance Sheet at December 31, 2024 has been derived from the Audited Consolidated Financial Statements at that date but does not include all disclosures required by GAAP. This Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

All dollar amounts discussed in these Notes to Consolidated Financial Statements are in thousands of U.S. dollars, except for share and per share amounts, and unless otherwise indicated.

Basis of Consolidation

Basis of Consolidation

The Consolidated Financial Statements include the accounts of Core Natural Resources, Inc. and its wholly-owned and majority-owned and/or controlled subsidiaries (including Arch) as of September 30, 2025. All intercompany transactions and accounts have been eliminated in consolidation. Upon closing of the Merger with Arch (see Note 2 - Merger with Arch), the Company acquired a 35% interest in the Dominion Terminal, a ground storage-to-vessel coal transloading facility in Newport News, Virginia operated by DTA. The Company has the ability to exercise significant influence, but not control, over DTA and accordingly, the investment in DTA is accounted for under the equity method.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-05, Financial Instruments—Credit Losses (Topic 326)—Measurement of Credit Losses for Accounts Receivable and Contract Assets. This update aims to address challenges encountered when applying the guidance in Topic 326, Financial Instruments—Credit Losses. This update introduces a practical expedient for all entities. In developing reasonable and supportable forecasts as part of estimating expected credit losses, all entities may elect a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. An entity that elects the practical expedient should apply the amendments in this update prospectively. The amendments will be effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance. Management is currently evaluating the impact of this guidance but does not expect this update to have a material impact on the Company's financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). The amendments in this update aim to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The amendments in this update require that public business entities, at each interim period and on an annual basis: (1) disclose the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) depreciation, depletion and amortization recognized as part of oil- and gas-producing activities (or other amounts of depletion expense) included in each relevant expense caption; (2) include certain amounts that are already required to be disclosed under current GAAP; (3) disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively; and (4) disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The amendments in this update are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. These amendments may be applied either prospectively or retrospectively. Management is currently evaluating the impact of this guidance but, with the exception of the increased disclosures summarized above, does not expect this update to have a material impact on the Company's financial statements.

Earnings (Loss) per Share

Earnings (Loss) per Share

Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted-average number of shares outstanding during the reporting period. Diluted earnings (loss) per share are computed similarly to basic earnings (loss) per share, except that the weighted-average number of shares outstanding is increased to include additional shares from restricted stock units and performance share units, if dilutive. The number of additional shares is calculated by assuming that outstanding restricted stock units and performance share units were released, and that the proceeds from such activities, as applicable, were used to acquire shares of common stock at the average market price during the reporting period.

Reclassifications

Reclassifications

Certain amounts in prior periods have been reclassified to conform with the report classifications of the current period. These reclassifications had no effect on previously reported total net income (loss), assets, stockholders' equity or cash flows from operating activities, nor do they affect key metrics used by the Company's chief operating decision maker (“CODM”) to evaluate performance.

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Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The table below sets forth the share-based awards that have been excluded from the computation of diluted earnings (loss) per share because their effect would be anti-dilutive:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Anti-Dilutive Restricted Stock Units	51,586	377	81,218	458
Anti-Dilutive Performance Share Units	—	—	41,250	—
	51,586	377	122,468	458

Schedule of Earnings Per Share, Basic and Diluted

The computations for basic and diluted earnings (loss) per share are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Numerator:
Net Income (Loss)	$	31,598	$	95,632	$	(74,235)	$	255,584
Denominator:
Weighted-average shares of common stock outstanding	51,577,732		29,580,649		51,460,427		29,705,627
Effect of dilutive shares	26,749		121,406		—		118,962
Weighted-average diluted shares of common stock outstanding	51,604,481		29,702,055		51,460,427		29,824,589
Earnings (Loss) per Share:
Basic	$	0.61	$	3.23	$	(1.44)	$	8.60
Diluted	$	0.61	$	3.22	$	(1.44)	$	8.57

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Merger with Arch (Tables)

9 Months Ended

Sep. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Preliminary Allocation Aggregate Purchase Price

The following table presents the preliminary allocation of the aggregate purchase price based on estimated fair values:

	Preliminary Purchase Price Allocation
Total Equity Portion of Purchase Price Consideration	$	2,481,368
Effective Settlement of Pre-Existing Relationships	95,636
Total Consideration Transferred	$	2,577,004
Assets Acquired:
Cash and Cash Equivalents	$	217,593
Short-Term Investments	22,969
Trade Receivables, net	161,670
Other Receivables, net	6,629
Inventories	307,175
Other Current Assets	13,366
Property, Plant and Equipment, net	2,604,625
Funds for Asset Retirement Obligations	150,033
Other Noncurrent Assets, net	155,763
Total Assets Acquired	3,639,823
Liabilities Assumed:
Accounts Payable	211,227
Current Portion of Long-Term Debt	4,104
Other Accrued Liabilities	154,651
Long-Term Debt	6,667
Postretirement Benefits Other Than Pensions	37,118
Pneumoconiosis Benefits	111,313
Asset Retirement Obligations	248,773
Workers’ Compensation	36,254
Salary Retirement	786
Deferred Income Taxes	158,471
Other Noncurrent Liabilities	93,455
Total Liabilities Assumed	1,062,819
Net Assets Acquired	$	2,577,004

Schedule of Pro Forma Adjustments

The table below summarizes the Company's results as though the Merger had been consummated on January 1, 2024:

	Three Months Ended September 30, 2024		Nine Months Ended September 30,
			2025		2024
Revenues (a)	$	1,172,016	$	3,173,017	$	3,499,093
Net Income (Loss) (a)	$	69,680	$	(52,109)	$	125,877

(a) Pro forma information has not been provided for the three months ended September 30, 2025 since Arch was fully consolidated for the entire period. Pro forma information for the nine months ended September 30, 2025 includes Arch's historical results for the January 1, 2025 through January 13, 2025 period prior to the Merger excluding Merger-related costs.

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Revenue From Contracts With Customers (Tables)

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following tables disaggregate the Company's revenue from contracts with customers by product type and market:

	Three Months Ended September 30, 2025
	Domestic		Export		Total
Power Generation	$	398,529	$	84,774	$	483,303
Industrial	32,324		178,409		210,733
Metallurgical	47,577		252,168		299,745
Total Coal Revenue	478,430		515,351		993,781
Third-Party Terminal Revenue					5,591
Other Revenue					3,171
Total Revenue from Contracts with Customers					$	1,002,543

	Three Months Ended September 30, 2024
	Domestic		Export		Total
Power Generation	$	163,769	$	74,337	$	238,106
Industrial	2,485		195,656		198,141
Metallurgical	8,200		97,698		105,898
Total Coal Revenue	174,454		367,691		542,145
Third-Party Terminal Revenue					7,490
Other Revenue					3,797
Total Revenue from Contracts with Customers					$	553,432

	Nine Months Ended September 30, 2025
	Domestic		Export		Total
Power Generation	$	1,154,972	$	238,671	$	1,393,643
Industrial	98,494		587,849		686,343
Metallurgical	115,135		901,281		1,016,416
Total Coal Revenue	1,368,601		1,727,801		3,096,402
Third-Party Terminal Revenue					15,087
Other Revenue					10,821
Total Revenue from Contracts with Customers					$	3,122,310

	Nine Months Ended September 30, 2024
	Domestic		Export		Total
Power Generation	$	515,159	$	186,118	$	701,277
Industrial	13,636		571,454		585,090
Metallurgical	31,222		238,636		269,858
Total Coal Revenue	560,017		996,208		1,556,225
Third-Party Terminal Revenue					22,689
Other Revenue					11,927
Total Revenue from Contracts with Customers					$	1,590,841

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Components of Pension and Other Post-Employment Benefit (OPEB) Plans Net Periodic Benefit Costs (Tables)

9 Months Ended

Sep. 30, 2025

Retirement Benefits [Abstract]

Schedule of Defined Benefit Plans Disclosures

The components of Net Periodic Benefit Cost were as follows:

	Pension Benefits								OPEB
	Three Months Ended September 30,				Nine Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024		2025		2024		2025		2024
Service Cost	$	275	$	302	$	825	$	906	$	38	$	—	$	108	$	—
Interest Cost	6,343		6,431		19,028		19,293		2,992		2,758		8,884		8,274
Expected Return on Plan Assets	(7,565)		(7,991)		(22,695)		(23,973)		—		—		—		—
Amortization of Prior Service Credits	—		—		—		—		(601)		(601)		(1,803)		(1,804)
Amortization of Actuarial Loss (Gain)	2,159		1,567		6,475		4,699		(683)		(70)		(2,052)		(209)
Net Periodic Benefit Cost	$	1,212	$	309	$	3,633	$	925	$	1,746	$	2,087	$	5,137	$	6,261

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Components of Coal Workers' Pneumoconiosis (CWP) and Workers' Compensation Net Periodic Benefit Costs (Tables)

9 Months Ended

Sep. 30, 2025

Retirement Benefits [Abstract]

Schedule of Changes in Accumulated Postemployment Benefit Obligations

The components of Net Periodic Benefit Cost were as follows:

	CWP								Workers' Compensation
	Three Months Ended September 30,				Nine Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024		2025		2024		2025		2024
Service Cost	$	2,003	$	746	$	5,809	$	2,239	$	1,728	$	1,465	$	5,184	$	4,393
Interest Cost	3,687		2,066		10,776		6,198		555		572		1,665		1,717
Amortization of Actuarial Loss (Gain)	42		109		127		326		(460)		(540)		(1,380)		(1,620)
Fees, Premiums and Assessments	—		—		—		—		2,273		464		6,383		1,393
Net Periodic Benefit Cost	$	5,732	$	2,921	$	16,712	$	8,763	$	4,096	$	1,961	$	11,852	$	5,883

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Cash and Cash Equivalents, Restricted Cash and Short-Term Investments (Tables)

9 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Cash, Cash Equivalents and Investments

The following table disaggregates the Company's cash, cash equivalents and restricted cash, which reconciles to the total shown on the Consolidated Statements of Cash Flows:

	September 30,
	2025		2024
Cash and Cash Equivalents	$	444,672	$	331,674
Restricted Cash - Current (a)	42,036		37,941
Restricted Cash - Noncurrent (a)	124,873		—
Cash and Cash Equivalents and Restricted Cash	$	611,581	$	369,615

(a) Restricted Cash - Current and Restricted Cash - Noncurrent are included in Other Current Assets and Funds for Asset Retirement Obligations, respectively, in the accompanying Consolidated Balance Sheets.

Schedule of Debt Securities, Available-for-Sale

The Company's investments in available-for-sale securities were as follows:

	December 31, 2024
					Gross Unrealized
	Amortized Cost		Allowance for Credit Losses		Gains		Losses		Fair Value
U.S. Treasury Securities	$	51,885	$	—	$	120	$	(12)	$	51,993

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Credit Losses (Tables)

9 Months Ended

Sep. 30, 2025

Credit Loss [Abstract]

Schedule of Accounts Receivable, Allowance for Credit Loss

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable and other non-trade contractual arrangements to present the net amount expected to be collected:

	Trade Receivables		Other Non-Trade Contractual Arrangements
Beginning Balance, December 31, 2024	$	1,265	$	7,625
Provision for Expected Credit Losses	(729)		(77)
Ending Balance, September 30, 2025	$	536	$	7,548

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Inventories (Tables)

9 Months Ended

Sep. 30, 2025

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventory components consisted of the following:

	September 30, 2025		December 31, 2024
Coal	$	162,468	$	17,480
Supplies	245,032		78,721
Total Inventories	$	407,500	$	96,201

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Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consisted of the following:

	September 30, 2025		December 31, 2024
Plant and Equipment	$	4,774,817	$	3,633,741
Coal Properties and Surface Lands	2,225,310		913,819
Airshafts	592,493		521,334
Mine Development	673,946		366,260
Advance Mining Royalties	337,248		328,927
Total Property, Plant and Equipment	8,603,814		5,764,081
Less: Accumulated Depreciation, Depletion and Amortization	4,213,432		3,842,382
Total Property, Plant and Equipment - Net	$	4,390,382	$	1,921,699

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Other Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2025

Other Liabilities Disclosure [Abstract]

Schedule of Accrued Liabilities

Other accrued liabilities consisted of the following:

	September 30, 2025		December 31, 2024
Subsidence Liability	$	118,191	$	88,259
Accrued Compensation and Benefits	57,563		54,138
Accrued Other Taxes	50,759		6,973
Other	67,594		31,928
Current Portion of Long-Term Liabilities:
Asset Retirement Obligations	41,496		35,554
Pneumoconiosis Benefits	25,259		16,389
Postretirement Benefits Other than Pensions	21,422		17,887
Workers' Compensation	17,360		11,056
Total Other Accrued Liabilities	$	399,644	$	262,184

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Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

Long-term debt consisted of the following:

	September 30, 2025		December 31, 2024
WVEDA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45%	$	106,355	$	—
MEDCO Port Facilities Refunding Revenue Bonds due March 2035 at 5.00% and 5.75% at September 30, 2025 and December 31, 2024, respectively	102,865		102,865
PEDFA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45% and 9.00% at September 30, 2025 and December 31, 2024, respectively	97,560		75,000
Equipment Financing (7.56% Weighted-Average Interest Rate)	73,010		—
Advance Royalty Commitments (8.10% Weighted-Average Interest Rate)	6,148		6,148
Other Debt Arrangements	5,071		664
Less: Unamortized Debt Issuance Costs	(6,716)		(1,213)
	384,293		183,464
Less: Amounts Due in One Year (a)	(71,072)		(103,940)
Long-Term Debt	$	313,221	$	79,524

(a) Excludes current portion of Finance Lease Obligations of $12,724 and $8,925 at September 30, 2025 and December 31, 2024, respectively.

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Commitments and Contingent Liabilities (Tables)

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Guarantor Obligations

	Amount of Commitment Expiration per Period
	Total Amounts Committed		Less Than 1 Year		1-3 Years		3-5 Years		Beyond 5 Years
Letters of Credit:
Employee-Related	$	119,744	$	100,091	$	19,653	$	—	$	—
Environmental	398		398		—		—		—
Other	149,646		137,754		11,892		—		—
Total Letters of Credit	$	269,788	$	238,243	$	31,545	$	—	$	—
Surety Bonds:
Employee-Related	$	120,341	$	110,891	$	9,450	$	—	$	—
Environmental	819,060		563,502		255,558		—		—
Other	29,000		24,282		4,718		—		—
Total Surety Bonds	$	968,401	$	698,675	$	269,726	$	—	$	—

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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Instruments

The financial instruments measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements at						Fair Value Measurements at
	September 30, 2025						December 31, 2024
Description	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
U.S. Treasury Securities	$	—	$	—	$	—	$	51,993	$	—	$	—
Global Water Treatment Trust Fund (a)	$	15,058	$	—	$	—	$	12,054	$	—	$	—

(a) The Global Water Treatment Trust Fund is included in Funds for Asset Retirement Obligations in the accompanying Consolidated Balance Sheets.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying amounts and fair values of financial instruments for which the fair value option was not elected were as follows:

	September 30, 2025				December 31, 2024
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-Term Debt (Excluding Debt Issuance Costs)	$	391,009	$	408,732	$	184,677	$	199,052

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Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Reportable segment results for the three months ended September 30, 2025 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	514,721	$	292,694	$	186,366	$	5,591
Intersegment Revenues	—		—		—		14,187
	514,721		292,694		186,366		19,778		$	1,013,559
Other Revenues (a)									3,171
Elimination of Intersegment Revenues									(14,187)
Total Consolidated Revenues									1,002,543
Less: (b)
Cash Costs of Revenue	293,002		209,285		169,945		7,626
Transportation Costs	82,550		66,912		2,830		—
Other Segment Items (c)	—		(975)		—		—
Adjusted EBITDA	$	139,169	$	17,472	$	13,591	$	12,152	$	182,384
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									679
Depreciation, Depletion and Amortization									(151,006)
General and Administrative Costs									(34,133)
Interest Expense									(10,606)
Interest Income									7,578
Non-Service Related Pension and Postretirement Benefit Costs									(6,562)
Idle Mine Costs									(5,080)
Other Operating Expense, net									(1,742)
Other Cost of Sales									(2,912)
Loss Before Income Tax									$	(21,400)

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	2,179,909	$	2,140,661	$	422,024	$	92,521	$	1,360,773	$	6,195,888
Depreciation, Depletion and Amortization	$	52,842	$	65,381	$	8,795	$	1,398	$	22,590	$	151,006
Capital Expenditures	$	40,642	$	2,719	$	1,876	$	3,104	$	956	$	49,297

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2025.

Reportable segment results for the three months ended September 30, 2024 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	517,720	$	24,425	$	—	$	7,490
Intersegment Revenues	—		—		—		16,250
	517,720		24,425		—		23,740		$	565,885
Other Revenues (a)									3,797
Elimination of Intersegment Revenues									(16,250)
Total Consolidated Revenues									553,432
Less: (b)
Cash Costs of Revenue	245,252		31,394		—		6,919
Transportation Costs	77,990		1,666		—		—
Other Segment Items (c)	(1,701)		—		—		—
Adjusted EBITDA	$	196,179	$	(8,635)	$	—	$	16,821	$	204,365
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									1,042
Depreciation, Depletion and Amortization									(53,329)
General and Administrative Costs									(36,151)
Interest Expense									(4,664)
Interest Income									5,016
Non-Service Related Pension and Postretirement Benefit Costs									(4,400)
Idle Mine Costs									(1,291)
Other Operating Income, net									7,685
Other Cost of Sales									(5,102)
Earnings Before Income Tax									$	113,171

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	1,778,921	$	130,021	$	—	$	87,602	$	827,573	$	2,824,117
Depreciation, Depletion and Amortization	$	42,306	$	2,056	$	—	$	1,276	$	7,691	$	53,329
Capital Expenditures	$	30,743	$	4,484	$	—	$	2,805	$	1,356	$	39,388

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2024.

Reportable segment results for the nine months ended September 30, 2025 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	1,663,307	$	897,268	$	535,827	$	15,087
Intersegment Revenues	—		—		—		48,488
	1,663,307		897,268		535,827		63,575		$	3,159,977
Other Revenues (a)									10,821
Elimination of Intersegment Revenues									(48,488)
Total Consolidated Revenues									3,122,310
Less: (b)
Cash Costs of Revenue	927,621		634,425		471,349		23,028
Transportation Costs	275,363		210,982		8,030		—
Other Segment Items (c)	—		56,674		—		—
Adjusted EBITDA	$	460,323	$	(4,813)	$	56,448	$	40,547	$	552,505
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									2,291
Depreciation, Depletion and Amortization									(441,825)
General and Administrative Costs									(158,285)
Interest Expense									(28,676)
Interest Income									20,297
Loss on Debt Extinguishment									(11,680)
Non-Service Related Pension and Postretirement Benefit Costs									(19,301)
Idle Mine Costs									(14,644)
Other Operating Income, net									3,169
Other Cost of Sales									(28,184)
Loss Before Income Tax									$	(124,333)

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	2,179,909	$	2,140,661	$	422,024	$	92,521	$	1,360,773	$	6,195,888
Depreciation, Depletion and Amortization	$	156,153	$	186,587	$	25,241	$	4,171	$	69,673	$	441,825
Capital Expenditures	$	122,812	$	57,192	$	6,785	$	5,884	$	10,631	$	203,304

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2025.

Reportable segment results for the nine months ended September 30, 2024 were as follows:

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Total
Revenues from External Customers	$	1,469,201	$	87,024	$	—	$	22,689
Intersegment Revenues	—		—		—		37,599
	1,469,201		87,024		—		60,288		$	1,616,513
Other Revenues (a)									11,927
Elimination of Intersegment Revenues									(37,599)
Total Consolidated Revenues									1,590,841
Less: (b)
Cash Costs of Revenue	717,948		99,862		—		20,223
Transportation Costs	228,842		7,645		—		—
Other Segment Items (c)	(3,021)		—		—		—
Adjusted EBITDA	$	525,432	$	(20,483)	$	—	$	40,065	$	545,014
Reconciliation of segment profit or loss measure to consolidated earnings (loss) before income tax:
Other Profit or Loss (a)									3,676
Depreciation, Depletion and Amortization									(165,173)
General and Administrative Costs									(77,669)
Interest Expense									(15,063)
Interest Income									14,145
Non-Service Related Pension and Postretirement Benefit Costs									(13,201)
Idle Mine Costs									(4,003)
Other Operating Income, net									17,608
Other Cost of Sales									(6,341)
Earnings Before Income Tax									$	298,993

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

	High CV Thermal		Metallurgical		PRB		Baltimore Marine Terminal		Corporate and Other (a)		Consolidated
Segment Assets (b)	$	1,778,921	$	130,021	$	—	$	87,602	$	827,573	$	2,824,117
Depreciation, Depletion and Amortization	$	129,146	$	6,267	$	—	$	3,544	$	26,216	$	165,173
Capital Expenditures	$	114,744	$	9,463	$	—	$	7,605	$	5,336	$	137,148

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of September 30, 2024.

Schedule of Revenue by Major Customers by Reporting Segments

Revenues from customers that exceeded 10% of consolidated revenues were as follows:

	Three Months Ended September 30,			Nine Months Ended September 30,
	2025	2024		2025	2024
Customer A (a)	(b)	$	67,016	(b)	$	176,844
Customer B (a)	(b)	$	63,473	(b)	$	172,394

(a) Revenues from this customer were principally included in our High CV Thermal segment.

(b) Revenues during these periods were less than 10% of the Company's consolidated revenues.

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Basis of Presentation - Narrative (Details) - shares	Sep. 30, 2025	Jan. 14, 2025
Basis of Presentation [Line Items]
Preferred stock, shares authorized (in shares)	500,000
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
Arch Resources, Inc
Basis of Presentation [Line Items]
Business acquisition, percentage	35.00%	45.00%

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Basis of Presentation - Schedule of Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	51,586	377	122,468	458
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	51,586	377	81,218	458
Performance Share Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	0	41,250	0

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Basis of Presentation - Schedule of Basic and Dilutive Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2025	Sep. 30, 2024
Numerator:
Net Income (Loss)	$ 31,598	$ (36,556)	$ (69,277)	$ 95,632	$ 58,061	$ 101,891	$ (74,235)	$ 255,584
Denominator:
Weighted-average shares of common stock outstanding (in shares)	51,577,732			29,580,649			51,460,427	29,705,627
Effect of dilutive shares (in shares)	26,749			121,406			0	118,962
Weighted-average diluted shares of common stock outstanding (in shares)	51,604,481			29,702,055			51,460,427	29,824,589
Earnings (Loss) per Share:
Basic (in dollars per share)	$ 0.61			$ 3.23			$ (1.44)	$ 8.60
Diluted (in dollars per share)	$ 0.61			$ 3.22			$ (1.44)	$ 8.57

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Merger with Arch - Narrative (Details) $ in Thousands, shares in Millions				3 Months Ended	9 Months Ended
	Jan. 14, 2025 USD ($) state mine shares	Jan. 13, 2025 USD ($)	Jan. 01, 2024 USD ($)	Sep. 30, 2025 USD ($)	Sep. 30, 2025 USD ($)
Business Combination [Line Items]
Number of states operating with mining and terminal facilities | state	6
Amortized over a weighted average remaining contract term					1 year 7 months 6 days
Amortization expenses				$ 8,000	$ 23,000
Expected amortization rate in 2025				66.00%	66.00%
Expected amortization rate in 2026				16.00%	16.00%
Expected amortization rate in 2027				16.00%	16.00%
Expected amortization rate in 2028				2.00%	2.00%
Expected amortization rate in 2029				2.00%	2.00%
Minimum
Business Combination [Line Items]
Identified intangible assets amortized, contract term					1 year
Maximum
Business Combination [Line Items]
Identified intangible assets amortized, contract term					5 years
Arch Resources, Inc
Business Combination [Line Items]
Issued (in shares) | shares	24.3
Business acquisition, percentage	45.00%			35.00%	35.00%
Equity portion of purchase consideration	$ 2,481,368
Purchase price consideration		$ 98,075
Number of mines | mine	11
Gross contractual amount of receivables	$ 168,299
Property, plant and equipment					$ 1,400,000
Revenue					1,531,951
Loss before income tax			$ 135,022		274,610
Business acquisition, transaction costs			$ 92,698
Acquisition related costs					39,765
Amortization of related to inventory step-up amount					2,559
Arch Resources, Inc | Other Noncurrent Assets
Business Combination [Line Items]
Intangible assets				$ 84,000	84,000
Arch Resources, Inc | Other Noncurrent Liabilities
Business Combination [Line Items]
Intangible assets				$ 37,000	$ 37,000

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Merger with Arch - Preliminary Allocation Aggregate Purchase Price (Details) - Arch Resources, Inc $ in Thousands	Jan. 14, 2025 USD ($)
Business Combination [Line Items]
Total Equity Portion of Purchase Price Consideration	$ 2,481,368
Effective Settlement of Pre-Existing Relationships	95,636
Total Consideration Transferred	2,577,004
Assets Acquired:
Cash and Cash Equivalents	217,593
Short-Term Investments	22,969
Trade Receivables, net	161,670
Other Receivables, net	6,629
Inventories	307,175
Other Current Assets	13,366
Property, Plant and Equipment, net	2,604,625
Funds for Asset Retirement Obligations	150,033
Other Noncurrent Assets, net	155,763
Total Assets Acquired	3,639,823
Liabilities Assumed:
Accounts Payable	211,227
Current Portion of Long-Term Debt	4,104
Other Accrued Liabilities	154,651
Long-Term Debt	6,667
Postretirement Benefits Other Than Pensions	37,118
Pneumoconiosis Benefits	111,313
Asset Retirement Obligations	248,773
Workers’ Compensation	36,254
Salary Retirement	786
Deferred Income Taxes	158,471
Other Noncurrent Liabilities	93,455
Total Liabilities Assumed	1,062,819
Net Assets Acquired	$ 2,577,004

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Merger with Arch - Pro Forma Adjustments (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
Revenues	$ 1,172,016	$ 3,173,017	$ 3,499,093
Net Income (Loss)	$ 69,680	$ (52,109)	$ 125,877

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Revenue From Contracts With Customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	$ 1,002,543	$ 553,432	$ 3,122,310	$ 1,590,841
Total Coal Revenue
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	993,781	542,145	3,096,402	1,556,225
Power Generation
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	483,303	238,106	1,393,643	701,277
Industrial
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	210,733	198,141	686,343	585,090
Metallurgical
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	299,745	105,898	1,016,416	269,858
Third-Party Terminal Revenue
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	5,591	7,490	15,087	22,689
Other Revenue
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	3,171	3,797	10,821	11,927
Domestic | Total Coal Revenue
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	478,430	174,454	1,368,601	560,017
Domestic | Power Generation
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	398,529	163,769	1,154,972	515,159
Domestic | Industrial
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	32,324	2,485	98,494	13,636
Domestic | Metallurgical
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	47,577	8,200	115,135	31,222
Export | Total Coal Revenue
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	515,351	367,691	1,727,801	996,208
Export | Power Generation
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	84,774	74,337	238,671	186,118
Export | Industrial
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	178,409	195,656	587,849	571,454
Export | Metallurgical
Disaggregation of Revenue [Line Items]
Total Revenue from Contracts with Customers	$ 252,168	$ 97,698	$ 901,281	$ 238,636

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Revenue From Contracts With Customers - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Coal Revenue
Disaggregation of Revenue [Line Items]
Capitalized contract cost, net	$ 0		$ 0		$ 0
Capitalized contract cost, amortization	0	$ 0	0	$ 0
Contract with customer, liability, revenue recognized			0
Third-Party Terminal Revenue
Disaggregation of Revenue [Line Items]
Capitalized contract cost, net	0		0		$ 0
Capitalized contract cost, amortization	$ 0	$ 0	0	$ 0
Contract with customer, liability, revenue recognized			$ 0

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Components of Pension and Other Post-Employment Benefit (OPEB) Plans Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Pension Benefits
Defined Contribution Plan Disclosure [Line Items]
Service Cost	$ 275	$ 302	$ 825	$ 906
Interest Cost	6,343	6,431	19,028	19,293
Expected Return on Plan Assets	(7,565)	(7,991)	(22,695)	(23,973)
Amortization of Prior Service Credits	0	0	0	0
Amortization of Actuarial Loss (Gain)	2,159	1,567	6,475	4,699
Net Periodic Benefit Cost	1,212	309	3,633	925
OPEB
Defined Contribution Plan Disclosure [Line Items]
Service Cost	38	0	108	0
Interest Cost	2,992	2,758	8,884	8,274
Expected Return on Plan Assets	0	0	0	0
Amortization of Prior Service Credits	(601)	(601)	(1,803)	(1,804)
Amortization of Actuarial Loss (Gain)	(683)	(70)	(2,052)	(209)
Net Periodic Benefit Cost	$ 1,746	$ 2,087	$ 5,137	$ 6,261

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Components of Coal Workers' Pneumoconiosis (CWP) and Workers' Compensation Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
CWP
Defined Contribution Plan Disclosure [Line Items]
Service Cost	$ 2,003	$ 746	$ 5,809	$ 2,239
Interest Cost	3,687	2,066	10,776	6,198
Amortization of Actuarial Loss (Gain)	42	109	127	326
Fees, Premiums and Assessments	0	0	0	0
Net Periodic Benefit Cost	5,732	2,921	16,712	8,763
Workers' Compensation
Defined Contribution Plan Disclosure [Line Items]
Service Cost	1,728	1,465	5,184	4,393
Interest Cost	555	572	1,665	1,717
Amortization of Actuarial Loss (Gain)	(460)	(540)	(1,380)	(1,620)
Fees, Premiums and Assessments	2,273	464	6,383	1,393
Net Periodic Benefit Cost	$ 4,096	$ 1,961	$ 11,852	$ 5,883

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Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income tax provisions	$ (52,998)	$ 17,539	$ (50,098)	$ 43,409
Effective income tax rate reconciliation, percent	247.70%	15.50%	40.30%	14.50%
Effective income tax rate reconciliation, at federal statutory income tax rate, percent	21.00%	21.00%	21.00%	21.00%

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Cash and Cash Equivalents, Restricted Cash and Short-Term Investments - Schedule of Cash, Cash Equivalents and Short-Term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Cash and Cash Equivalents	$ 444,672	$ 408,240	$ 331,674
Restricted Cash - Current	42,036		37,941
Restricted Cash - Noncurrent	124,873		0
Cash and Cash Equivalents and Restricted Cash	$ 611,581	$ 447,542	$ 369,615	$ 243,268

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Cash and Cash Equivalents, Restricted Cash and Short-Term Investments - Schedule of Investments in Available-for-Sale Securities (Details) - U.S. Treasury Securities $ in Thousands	Dec. 31, 2024 USD ($)
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	$ 51,885
Allowance for Credit Losses	0
Gains	120
Losses	(12)
Fair Value	$ 51,993

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Credit Losses (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2025 USD ($)
Trade Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 1,265
Provision for Expected Credit Losses	(729)
Ending Balance	536
Other Non-Trade Contractual Arrangements
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	7,625
Provision for Expected Credit Losses	(77)
Ending Balance	$ 7,548

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Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Inventory Disclosure [Abstract]
Coal	$ 162,468	$ 17,480
Supplies	245,032	78,721
Total Inventories	$ 407,500	$ 96,201

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Accounts Receivable Securitization (Details) - Accounts Receivable Securitization Facility - Line of Credit - USD ($)	9 Months Ended
	Sep. 30, 2025	Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Line of credit facility, maximum borrowing capacity	$ 250,000,000
Basis points	0.10%
Line of credit facility, unused capacity, commitment fee percentage	0.60%
Accounts receivable eligible for securitization	$ 220,559,000	$ 71,964,000
Line of credit facility, fair value of amount outstanding	0	0
Letters of credit outstanding, amount	191,125,000	71,922,000
Line of credit facility, remaining borrowing capacity	$ 29,434,000	$ 42,000
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Line of credit facility, commitment fee percentage	2.00%

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Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment	$ 8,603,814	$ 5,764,081
Less: Accumulated Depreciation, Depletion and Amortization	4,213,432	3,842,382
Total Property, Plant and Equipment - Net	4,390,382	1,921,699
Plant and Equipment
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment	4,774,817	3,633,741
Coal Properties and Surface Lands
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment	2,225,310	913,819
Airshafts
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment	592,493	521,334
Mine Development
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment	673,946	366,260
Advance Mining Royalties
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment	$ 337,248	$ 328,927

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Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Finance lease, right-of-use asset, before accumulated amortization	$ 50,169		$ 50,169		$ 40,804
Finance lease, right-of-use asset, accumulated amortization	16,981		16,981		$ 16,929
Finance lease, right-of-use asset, amortization	$ 3,358	$ 2,110	$ 9,315	$ 7,652

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Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Other Liabilities Disclosure [Abstract]
Subsidence Liability	$ 118,191	$ 88,259
Accrued Compensation and Benefits	57,563	54,138
Accrued Other Taxes	50,759	6,973
Other	67,594	31,928
Current Portion of Long-Term Liabilities:
Asset Retirement Obligations	41,496	35,554
Pneumoconiosis Benefits	25,259	16,389
Postretirement Benefits Other than Pensions	21,422	17,887
Workers' Compensation	17,360	11,056
Total Other Accrued Liabilities	$ 399,644	$ 262,184

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Long-Term Debt - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Mar. 27, 2025	Dec. 31, 2024
Debt Instrument [Line Items]
Less: Unamortized Debt Issuance Costs	$ (6,716)		$ (1,213)
Principal amount	384,293		183,464
Less: amounts due in one year	(71,072)		(103,940)
Long-Term Debt	$ 313,221		$ 79,524
WVEDA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45%
Debt Instrument [Line Items]
Stated interest rate percentage	5.45%	5.45%	5.45%
Long-term debt, gross	$ 106,355		$ 0
MEDCO Port Facilities Refunding Revenue Bonds due March 2035 at 5.00% and 5.75% at September 30, 2025 and December 31, 2024, respectively
Debt Instrument [Line Items]
Stated interest rate percentage	5.00%	5.00%	5.75%
Long-term debt, gross	$ 102,865		$ 102,865
PEDFA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45% and 9.00% at September 30, 2025 and December 31, 2024, respectively
Debt Instrument [Line Items]
Stated interest rate percentage	5.45%	5.45%	9.00%
Long-term debt, gross	$ 97,560		$ 75,000
Equipment Financing (7.56% Weighted-Average Interest Rate)
Debt Instrument [Line Items]
Weighted average interest rate	7.56%		7.56%
Long-term debt, gross	$ 73,010		$ 0
Advance Royalty Commitments (8.10% Weighted-Average Interest Rate)
Debt Instrument [Line Items]
Weighted average interest rate	8.10%		8.10%
Long-term debt, gross	$ 6,148		$ 6,148
Other Debt Arrangements
Debt Instrument [Line Items]
Long-term debt, gross	5,071		664
Loans Payable | Revolving Credit Facility
Debt Instrument [Line Items]
Finance lease, liability, current	$ 12,724		$ 8,925

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Long-Term Debt - Narrative (Details) - USD ($)			1 Months Ended	3 Months Ended						9 Months Ended
	Mar. 27, 2025	Jan. 13, 2025	Jan. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2025	Sep. 30, 2024	Jan. 30, 2025	Dec. 31, 2024
Debt Instrument [Line Items]
Segment Assets				$ 6,195,888,000			$ 2,824,117,000			$ 6,195,888,000	$ 2,824,117,000		$ 2,879,543,000
Net income				31,598,000	$ (36,556,000)	$ (69,277,000)	95,632,000	$ 58,061,000	$ 101,891,000	(74,235,000)	255,584,000
Loss on extinguishment of debt				$ 0			0			$ 11,680,000	0
Arch Resources, Inc
Debt Instrument [Line Items]
Purchase price consideration		$ 98,075,000
WVEDA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45%
Debt Instrument [Line Items]
Debt instrument, face amount	$ 106,355,000
Debt instrument, interest rate, stated percentage	5.45%			5.45%						5.45%			5.45%
Debt instrument, term	10 years
MEDCO Port Facilities Refunding Revenue Bonds due March 2035 at 5.00% and 5.75% at September 30, 2025 and December 31, 2024, respectively
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 102,865,000
Debt instrument, face amount	$ 102,865,000
Debt instrument, interest rate, stated percentage	5.00%			5.00%						5.00%			5.75%
Debt instrument, term	10 years
PEDFA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45% and 9.00% at September 30, 2025 and December 31, 2024, respectively
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 75,000,000
Debt instrument, face amount	$ 97,560,000
Debt instrument, interest rate, stated percentage	5.45%			5.45%						5.45%			9.00%
Debt instrument, term	10 years
Non-Guarantor Subsidiaries
Debt Instrument [Line Items]
Segment Assets				$ 326,734,000						$ 326,734,000			$ 133,853,000
Accounts receivable, after allowance for credit loss				325,591,000						325,591,000			133,694,000
Net income				3,776,000			$ 528,000			8,408,000	$ 775,000
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term line of credit				0						$ 0			0
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 600,000,000									$ 355,000,000
Reduced annual rate			0.75%							0.10%
Letters of credit outstanding, amount				78,663,000						$ 78,663,000			107,087,000
Line of credit facility, remaining borrowing capacity				$ 521,337,000						$ 521,337,000			$ 247,913,000
Revolving Credit Facility and TLA Facility | Line of Credit
Debt Instrument [Line Items]
Debt instrument, covenant, net leverage ratio, maximum				2.50						2.50
Debt instrument, covenant, fixed charge coverage ratio, minimum				3.00						3.00
Debt instrument, covenant, first lien gross leverage ratio, actual				0.18						0.18
Debt instrument, covenant, net leverage ratio, actual				(0.04)						(0.04)
Debt instrument, covenant, fixed charge coverage ratio, actual				50.13						50.13
Revolving Credit Facility and TLA Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Debt instrument, covenant, first lien gross leverage ratio				1.50						1.50
Series 2020 | WVEDA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45%
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 53,090,000
Series 2021 | WVEDA Solid Waste Disposal Facility Revenue Bonds due March 2035 at 5.45%
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 44,985,000

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Commitments and Contingent Liabilities - Narrative (Details) - United Mine Workers of America 1992 Benefit Plan Litigation - Pending Litigation $ in Millions	9 Months Ended
	Sep. 30, 2025 USD ($)
Loss Contingencies [Line Items]
Lawsuit beginning amount	$ 64.8
Damages value	25.6
Annual servicing costs	$ 10.0

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Commitments and Contingent Liabilities - Schedule of Guarantor Obligations (Details) $ in Thousands	Sep. 30, 2025 USD ($)
Letters of Credit:
Loss Contingencies [Line Items]
Total Amounts Committed	$ 269,788
Less Than 1 Year	238,243
1-3 Years	31,545
3-5 Years	0
Beyond 5 Years	0
Letters of Credit: | Employee-Related
Loss Contingencies [Line Items]
Total Amounts Committed	119,744
Less Than 1 Year	100,091
1-3 Years	19,653
3-5 Years	0
Beyond 5 Years	0
Letters of Credit: | Environmental
Loss Contingencies [Line Items]
Total Amounts Committed	398
Less Than 1 Year	398
1-3 Years	0
3-5 Years	0
Beyond 5 Years	0
Letters of Credit: | Other
Loss Contingencies [Line Items]
Total Amounts Committed	149,646
Less Than 1 Year	137,754
1-3 Years	11,892
3-5 Years	0
Beyond 5 Years	0
Surety Bonds:
Loss Contingencies [Line Items]
Total Amounts Committed	968,401
Less Than 1 Year	698,675
1-3 Years	269,726
3-5 Years	0
Beyond 5 Years	0
Surety Bonds: | Employee-Related
Loss Contingencies [Line Items]
Total Amounts Committed	120,341
Less Than 1 Year	110,891
1-3 Years	9,450
3-5 Years	0
Beyond 5 Years	0
Surety Bonds: | Environmental
Loss Contingencies [Line Items]
Total Amounts Committed	819,060
Less Than 1 Year	563,502
1-3 Years	255,558
3-5 Years	0
Beyond 5 Years	0
Surety Bonds: | Other
Loss Contingencies [Line Items]
Total Amounts Committed	29,000
Less Than 1 Year	24,282
1-3 Years	4,718
3-5 Years	0
Beyond 5 Years	$ 0

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Fair Value of Financial instruments - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
U.S. Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		$ 51,993
Fair Value, Recurring | Level 1 | U.S. Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	51,993
Fair Value, Recurring | Level 1 | Global Water Treatment Trust Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	15,058	12,054
Fair Value, Recurring | Level 2 | U.S. Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Recurring | Level 2 | Global Water Treatment Trust Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Recurring | Level 3 | U.S. Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Recurring | Level 3 | Global Water Treatment Trust Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0

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Fair Value of Financial instruments - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-Term Debt (Excluding Debt Issuance Costs)	$ 391,009	$ 184,677
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-Term Debt (Excluding Debt Issuance Costs)	$ 408,732	$ 199,052

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Segment Information - Narrative (Details) - segment	9 Months Ended	12 Months Ended
	Sep. 30, 2025	Dec. 31, 2024
Segment Reporting [Abstract]
Number of reportable segments	4	2

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Segment Information - Schedule of Segment Reporting Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	$ 1,002,543	$ 553,432	$ 3,122,310	$ 1,590,841
Revenues	1,002,543	553,432	3,122,310	1,590,841
Adjusted EBITDA	182,384	204,365	552,505	545,014
Other Profit or Loss	679	1,042	2,291	3,676
Depreciation, Depletion and Amortization	(151,006)	(53,329)	(441,825)	(165,173)
General and Administrative Costs	(34,133)	(36,151)	(158,285)	(77,669)
Interest Expense	(10,606)	(4,664)	(28,676)	(15,063)
Interest Income	7,578	5,016	20,297	14,145
Loss on Debt Extinguishment	0	0	(11,680)	0
Non-Service Related Pension and Postretirement Benefit Costs	(6,562)	(4,400)	(19,301)	(13,201)
Idle Mine Costs	(5,080)	(1,291)	(14,644)	(4,003)
Other Operating Expense (Income), net	(1,742)	7,685	3,169	17,608
Other Cost of Sales	(2,912)	(5,102)	(28,184)	(6,341)
(Loss) Earnings Before Income Tax	(21,400)	113,171	(124,333)	298,993
Segment Assets	6,195,888	2,824,117	6,195,888	2,824,117	$ 2,879,543
Depreciation, Depletion and Amortization	151,006	53,329	441,825	165,173
Capital Expenditures	49,297	39,388	203,304	137,148
Operating Segments
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	1,013,559	565,885	3,159,977	1,616,513
Intersegment Revenues
Segment Reporting Information [Line Items]
Revenue Not from Contract with Customer	(14,187)	(16,250)	(48,488)	(37,599)
Corporate and Other
Segment Reporting Information [Line Items]
Revenue Not from Contract with Customer	3,171	3,797	10,821	11,927
Depreciation, Depletion and Amortization	(22,590)	(7,691)	(69,673)	(26,216)
Segment Assets	1,360,773	827,573	1,360,773	827,573
Depreciation, Depletion and Amortization	22,590	7,691	69,673	26,216
Capital Expenditures	956	1,356	10,631	5,336
High CV Thermal
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	514,721	517,720	1,663,307	1,469,201
High CV Thermal | Operating Segments
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	514,721	517,720	1,663,307	1,469,201
Cash Costs of Revenue	293,002	245,252	927,621	717,948
Transportation Costs	82,550	77,990	275,363	228,842
Other Segment Items	0	(1,701)	0	(3,021)
Adjusted EBITDA	139,169	196,179	460,323	525,432
Depreciation, Depletion and Amortization	(52,842)	(42,306)	(156,153)	(129,146)
Segment Assets	2,179,909	1,778,921	2,179,909	1,778,921
Depreciation, Depletion and Amortization	52,842	42,306	156,153	129,146
Capital Expenditures	40,642	30,743	122,812	114,744
High CV Thermal | Intersegment Revenues
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	0	0	0	0
Metallurgical
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	292,694	24,425	897,268	87,024
Metallurgical | Operating Segments
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	292,694	24,425	897,268	87,024
Cash Costs of Revenue	209,285	31,394	634,425	99,862
Transportation Costs	66,912	1,666	210,982	7,645
Other Segment Items	(975)	0	56,674	0
Adjusted EBITDA	17,472	(8,635)	(4,813)	(20,483)
Depreciation, Depletion and Amortization	(65,381)	(2,056)	(186,587)	(6,267)
Segment Assets	2,140,661	130,021	2,140,661	130,021
Depreciation, Depletion and Amortization	65,381	2,056	186,587	6,267
Capital Expenditures	2,719	4,484	57,192	9,463
Metallurgical | Intersegment Revenues
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	0	0	0	0
PRB
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	186,366	0	535,827	0
PRB | Operating Segments
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	186,366	0	535,827	0
Cash Costs of Revenue	169,945	0	471,349	0
Transportation Costs	2,830	0	8,030	0
Other Segment Items	0	0	0	0
Adjusted EBITDA	13,591	0	56,448	0
Depreciation, Depletion and Amortization	(8,795)	0	(25,241)	0
Segment Assets	422,024	0	422,024	0
Depreciation, Depletion and Amortization	8,795	0	25,241	0
Capital Expenditures	1,876	0	6,785	0
PRB | Intersegment Revenues
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	0	0	0	0
Baltimore Marine Terminal
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	5,591	7,490	15,087	22,689
Baltimore Marine Terminal | Operating Segments
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	19,778	23,740	63,575	60,288
Cash Costs of Revenue	7,626	6,919	23,028	20,223
Transportation Costs	0	0	0	0
Other Segment Items	0	0	0	0
Adjusted EBITDA	12,152	16,821	40,547	40,065
Depreciation, Depletion and Amortization	(1,398)	(1,276)	(4,171)	(3,544)
Segment Assets	92,521	87,602	92,521	87,602
Depreciation, Depletion and Amortization	1,398	1,276	4,171	3,544
Capital Expenditures	3,104	2,805	5,884	7,605
Baltimore Marine Terminal | Intersegment Revenues
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	$ (14,187)	$ (16,250)	$ (48,488)	$ (37,599)

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Segment Information - Schedule of Revenue by Major Customers by Reporting Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers	$ 1,002,543	$ 553,432	$ 3,122,310	$ 1,590,841
Revenue Benchmark | Customer Concentration Risk | Customer A
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers		67,016		176,844
Revenue Benchmark | Customer Concentration Risk | Customer B
Segment Reporting Information [Line Items]
Total Revenue from Contracts with Customers		$ 63,473		$ 172,394

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Stock Repurchases (Details) - USD ($) $ / shares in Units, $ in Billions	3 Months Ended					9 Months Ended
	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2025	Sep. 30, 2024	Feb. 18, 2025	Dec. 31, 2017
Class of Stock [Line Items]
Aggregate amount								$ 1
Repurchases of common stock (in shares)	270,834	1,175,905	1,377,294	132,063	615,288	2,824,033	747,351
Treasury stock acquired, average cost per share (in dollars per share)						$ 71.74	$ 89.49
Senior Secured Second Lien Notes due 2025 | Senior Notes
Class of Stock [Line Items]
Debt instrument, interest rate, stated percentage									11.00%

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Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended				9 Months Ended
	Nov. 06, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)		$ 0.10	$ 0.10	$ 0.10	$ 0.25	$ 0.30	$ 0.25
Dividends on common shares		$ 5,128	$ 5,223	$ 5,364	$ 7,348
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)	$ 0.10
Dividends on common shares	$ 5,100