Core Natural Resources (CNR) FY2023 results: revenue $2.5 billion, up 19.3% on the year
Core Natural Resources, Inc. (CNR) reported revenue of $2.5 billion for fiscal 2023, the year ended 31 December 2023, up 19.3% on the year before. Net income was $656 million, up 40.5%, and diluted earnings per share $19.79. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2024.
Revenue
$2.5 billion
+19.3% on the year
FY2016FY2023
Operating margin
32.0%
27.0% a year earlier
FY2016FY2023
Net income
$656 million
+40.5% on the year
FY2016FY2023
Diluted EPS
$19.79
+51.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
858
651
306
+31.8%
Capital expenditure
168
172
133
-2.2%
Free cash flow
690
479
173
+43.9%
Free cash flow margin
27.5%
22.8%
13.7%
Cash from investing
-259
-142
-127
Cash from financing
-682
-380
-30.9
Depreciation and amortisation
241
227
225
+6.4%
Share-based compensation
10.0
7.9
6.6
+27.3%
Buybacks
399
0.0
0.0
Dividends paid
75.5
71.5
0.0
+5.6%
Dividend per share
$2.20
$2.05
$0.00
+7.3%
Diluted shares, weighted
33m
36m
35m
-7.2%
Shares outstanding at period end
30m
35m
34m
-13.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,343
1,166
673
+15.2%
Debt
184
347
605
-47.1%
Operating lease liabilities
10.4
15.1
15.3
-31.1%
Finance lease liabilities
4.2
13.2
26.6
-68.4%
Other liabilities
1,133
1,163
1,254
-2.6%
Total liabilities and equity
2,675
2,704
2,574
-1.1%
Fixed assets
1,903
1,960
1,979
-2.9%
Investments
81.9
0.0
n/a
Cash and equivalents
199
273
150
-27.0%
Receivables
148
158
104
-6.6%
Inventory
88.2
66.3
62.9
+33.0%
Other assets
255
247
278
+3.2%
Total assets
2,675
2,704
2,574
-1.1%
10-K for the year ended 31 December 2023, filed 9 February 2024: the filing.