Whitehaven Coal Limited reported an underlying net profit after tax of $227 million for the year ended 30 June 2026, supported by strong operational performance and cost discipline across its Queensland and New South Wales assets.

Underlying earnings before interest, tax, depreciation and amortisation reached $1.3 billion, reflecting higher production offset by cyclical price weakness and foreign exchange headwinds from a stronger Australian dollar. The result compared with an underlying net profit after tax of $319 million in the previous financial year.

Managed run-of-mine production rose 3% to 40.3 million tonnes, split evenly between Queensland at 20.1 million tonnes and New South Wales at 20.2 million tonnes. Managed sales of produced coal increased 8% to 32.7 million tonnes, with both production and sales reaching the top end of the company’s guidance range. Unit costs fell to $132 per tonne from $139 per tonne in FY25.

“FY26 was another year of strong operational performance for Whitehaven, including safety and environmental outcomes. Total recordable injury frequency rate of 3.3 for employees & contractors was a record for the expanded business. Queensland and New South Wales operations both contributed to higher managed ROM production and increased sales of produced coal, with both production and sales coming in at the top end of guidance for the year.” — Paul Flynn, CEO & Managing Director

Statutory net profit after tax totalled $385 million, incorporating $158 million in adjustments largely driven by contingent payment remeasurements and foreign exchange gains. Net debt stood at $1.3 billion at year-end, up from $634 million as of 30 June 2025, following the payment of the second US$500 million deferred acquisition payment for the Blackwater project in April 2026.

To repay acquisition debt, Whitehaven completed a refinancing package in April 2026 comprising US$900 million in senior secured notes across two equal tranches maturing in October 2031 and April 2034, alongside a US$600 million syndicated facility.

The company will pay a fully franked final dividend of 6.0 cents per share, amounting to approximately $47 million, on 15 September 2026. Whitehaven also intends to deploy an equal amount through an on-market share buy-back program over six months.

Looking to the final obligations for the BMA acquisition, the company’s final deferred payment of US$100 million is scheduled for early April 2027.

Read the full announcement: FY26 Results Announcement