The Whitehaven Coal Ltd (ASX: WHC) share price is in focus after the company reported a $69 million statutory profit for H1 FY26, with a fully franked interim dividend of 4 cents per share declared.
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What did Whitehaven Coal report?
- Revenue: $2.48 billion, down 28% from $3.43 billion in H1 FY25
- Underlying EBITDA: $446 million, down 54%
- Cash generated from operations: $387 million, down 58%
- Statutory NPAT: $69 million (includes $88 million non-recurring items); underlying net loss after tax of $19 million
- Fully franked interim dividend: 4.0 cents per share ($32 million) plus up to $32 million share buy-back
- Run-of-mine coal production: 20Mt, up from 19.4Mt in H1 FY25
What else do investors need to know?
Whitehaven improved its safety performance, with a TRIFR of 2.9, down from 4.6, and reported zero environmental enforcement actions. Net debt rose to $710 million at 31 December 2025, reflecting reserved cash for acquisition payments.
The company closed the half-year with robust production, benefiting from diversification into metallurgical coal despite coal prices being 19% lower than last year. Operating costs fell slightly to $135 per tonne, and a cost-out program targeting $60 to $80 million in annual savings is on track.
What did Whitehaven Coal management say?
Paul Flynn, CEO & Managing Director, said:
Performance across Whitehaven's QLD and NSW operations in the first half of FY26 was in line with or better than plan.
Although prices were relatively soft in H1 FY26, Whitehaven's scale and diversification into metallurgical coal is delivering value through the cycle, allowing us to benefit from the dynamics of both metallurgical and high-CV thermal coal markets.
What's next for Whitehaven Coal?
The outlook remains positive, with long-term demand for both metallurgical and high-quality thermal coal supported by energy security needs and strong offtake arrangements. While thermal coal prices remain subdued, metallurgical coal markets are showing signs of recovery.
Whitehaven is confident it will deliver at the upper end of its FY26 guidance for coal production and sales. The company also plans to lower financing costs in FY27 by refinancing its US$1.1 billion facility, aiming to diversify funding sources and improve cost efficiency.
Whitehaven Coal share price snapshot
Over the past 12 months, Whitehaven Coal shares have risen 56%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 9% over the same period.
