Whitehaven Coal (WHC) Q4 2026 TU earnings summary

Executive summary

• FY26 ROM production reached 40.3Mt, up 3% year-over-year, with Q4 managed ROM production of 10.7Mt, up 13% sequentially from Q3.

• FY26 equity sales of produced coal totaled 26.0Mt, with a revenue mix of 57% metallurgical and 43% thermal coal.

• Both QLD and NSW operations achieved production and sales at the top end of guidance.

• FY26 TRIFR improved to 3.3 from 4.6 in FY25, marking a record for the expanded business.

Financial highlights

• FY26 unit cost of coal was ~$132/t, at the low end of guidance and down from $139/t in FY25.

• FY26 capex was ~$350 million, also at the low end of guidance.

• Annualized cost savings of A$60–80 million were delivered in FY26.

• Net debt at 30 June 2026 was A$1.3 billion, up from A$0.6 billion at 31 March 2026, after a US$500 million deferred acquisition payment.

Outlook and guidance

• FY26 production and sales volumes were at the top end of guidance; FY27 guidance to be provided with FY26 financial results in August.

• Market outlook remains positive for both metallurgical and thermal coal, with supportive demand and supply dynamics.