Core Reports Significant Increase in Q1 Sales Margins
"I am pleased to report that Core is beginning to demonstrate the true potential of the combined platform," said Jimmy Brock, Core's chair and chief executive officer. "During Q1, Core's operations executed at a high level, led by strong performances at Leer South and West Elk, while again deploying substantial free cash flow to our capital return program. The metallurgical segment achieved a significant, quarter-over-quarter increase in sales margins, underpinned by a substantial step-down in its cash cost of coal sold per ton, and the high calorific value thermal segment again delivered solid sales margins even as it navigated elevated electricity costs at the Pennsylvania Mining Complex stemming from this winter's Arctic outbreak as well as several weeks of challenging geology at the PAMC. Most importantly, the team continued to operate in tight alignment with our core values - safety and compliance, continuous improvement, and financial performance. Looking ahead, we expect to maintain this positive momentum in pursuit of operational excellence across the entire enterprise."
