Yancoal Australia (YAL) Q3 2026 earnings summary

Executive summary

• 9M attributable saleable production reached 29.2Mt, up 4% YoY and tracking toward the upper half of 2026 guidance; Q3 output fell QoQ after Moolarben’s planned longwall move.

• Q3 average realised coal price rose to A$170/t from A$160/t in Q2; cash increased A$340m before the interim dividend and Kestrel acquisition funding.

• Kestrel acquisition completed 1 October, adding an 80% interest in a long-life metallurgical coal asset, with attributable production and earnings from that date.

Financial highlights

• Q3 attributable sales were 9.0Mt, down 23% QoQ and 16% YoY; lower production and shipment timing contributed to the quarterly decline.

• Q3 realised thermal price was A$160/t, up 7% QoQ; metallurgical price was A$229/t, up 5%; overall price rose 6% QoQ and 21% YoY.

• Cash balance increased A$340m in Q3 before the A$92.4m interim dividend and cash utilisation for the Kestrel transaction.

Outlook and guidance

• FY26 attributable saleable production guidance is 36.5–40.5Mt; production is projected in the upper half, excluding Kestrel.

• Cash operating cost guidance is A$90–98/t; higher diesel prices are expected to place costs toward the upper end.

• Attributable capital expenditure guidance is A$600–750m; less than A$400m had been spent through September, with spend skewed to Q4.

• Q4 production matching Q3 would equal the 2025 annual record; the stated target is to exceed it in 2026.