Core Natural Resources, Inc.

Good morning, ladies and gentlemen, and welcome to the Core Natural Resources, Inc., second quarter 2026 earnings call conference call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, August 6, 2026. I would now like to turn the conference over to Deck Slone, Senior Vice President. Please, go ahead.

Good morning from Cannonsburg, Pennsylvania, everyone, and thanks for joining us today. Before we begin, let me remind you that certain statements made during this call, including statements relating to our expected future business and financial performance, may be considered forward-looking statements according to the Private Securities Litigation Reform Act. forward-looking statements by their nature address matters that are, to different degrees, uncertain. These uncertainties, which are described in more detail in the annual and quarterly reports that we file with the SEC, may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by law. and Bob Braithwaite, our Chief Commercial Officer. After some formal remarks from Jimmy and Mitesh, we will be happy to take questions. With that, I'll now turn the call over to Jimmy. Jimmy? Thank you, Deck, and good morning, everyone.

The results of the second quarter were a testament to the continued execution of our strategy, and we are pleased to report a significant step up in our financial performance. We worked diligently with our insurance partners to settle the Lear South insurance claim for the full limits lost. Complementing our strong operational results. Across the operating portfolio, we delivered a solid performance and are beginning to demonstrate what our full operating platform is capable of. With the insurance claim now behind us, we are singularly focused on the disciplined execution of our core business. We continue to prioritize safe, efficient operations, maintaining strong customer relationships, Optimizing our cost structure and allocating capital in a way that supports long-term shareholder value creation. Now let me dive into our operational results. Coal sales within the high-CV thermal segment came in at 8.4 million tons in Q2 26 compared to 7.7 million tons in Q1 of 26. During the quarter, our high-CV thermal segment reported realized coal revenue Thank you for joining us. Adjusted EBITDA for the segment totaled $165 million, which compares to $126 million in the first quarter of 26. In the metallurgical segment, coke and coal sales came in at 2.3 million tons in Q2 26 versus 2.1 million tons in Q1 26. During the quarter, our metallurgical segment reported realized coke and coal revenue The segment as a whole, including 300,000 tons of thermal byproduct sales, achieved an average selling price of $114.13 per ton. Cash costs for the quarter came in at $85.65 per ton, nearly a $7 per ton reduction quarter over quarter, reflecting ongoing improvements and execution at our flagship Longwall Mines. Adjusted EBITDA for the segment was $200 million, which included insurance-related proceeds of $125 million. In the Powder River Basin segment, coal sales came in at 10.2 million tons in Q2 26, compared to 11.9 million tons in the previous quarter. The lower volumes were a function of weak demand during the spring shoulder season, Thank you for joining us. In addition, we continued to build pit inventory during the quarter, which should serve to enhance operating margins in the year's back half. For the second quarter, our PRB segment reported realized coal revenue of $14.28 per ton and cash costs of $14.85 per ton. Moving to the core marine terminal, the CMT shipped 5.2 million tons during the second quarter. compared to 4.8 million tons in Q126. CMT reported $18 million in adjusted EBITDA in Q226, which was increased compared to the $16 million in the previous quarter. We had another strong quarter from a shareholder return perspective as well. As you know, our capital return framework targets the return to stockholders of around 75% of free cash flows. with a significant majority of that total directed to share repurchases. During Q2 26, we returned $68 million to shareholders, which was a substantial increase from $47 million in Q1 of 26. Since the program's inception in February of 2025, we have returned over 80% or $360 million of our free cash flow to shareholders via our capital return program. Of that total, $329 million has been used to repurchase approximately 8% of the company shares outstanding as of the program's launch. As indicated, we believe the stage is set for a further step up in capital returns in coming quarters. Before handing the call over to Mitesh, let me highlight one additional positive development. This one involving core innovations. Recently, The Innovations Team was selected for a grant from the U.S. Department of Energy to construct a pilot-scale facility for the extraction of rare earth elements and critical minerals at the Pennsylvania Mining Complex. This announcement underscores CORE's ongoing progress in developing innovative technologies that unlock greater value from the coal supply chain while advancing areas of national strategic importance. It follows an announcement made earlier this year in which Northrop Grumman named Core Touchstone Advanced Composite Group, a key supplier of tooling and components for the Talon Blue collaborative combat aircraft. Now let me turn the call over to Mitesh to provide the marketing financial updates.