New Hope (NHC) Q1 2026 TU earnings summary

Executive summary

• Safety performance improved, with TRIFR down 18% sequentially to 2.63.

• Saleable coal production rose 7.1% sequentially to 2.7Mt, driven by improved logistics and weather conditions.

• Underlying EBITDA increased 16% to AUD 108 million, reflecting higher coal sales.

• Average realized price increased to AUD 137/ton, up 3.4% sequentially.

• Paid FY25 final fully franked dividend of AUD 0.15/share (AUD 126 million); quarter-end cash was AUD 544 million.

Financial highlights

• Group prime waste movement increased 6.1% sequentially to 17.1 million BCM.

• Bengalla Mine's FOB cash cost (ex-royalties) fell 18% to AUD 83/ton.

• Group coal sales rose 11.6% sequentially to 2.68Mt.

• Product stocks increased 3.3% to 857kt compared to the previous quarter.

• Salable coal production: 2.7 million tons, up 7% sequentially.

Outlook and guidance

• FY2026 salable coal production guidance set at 10.2–11.5 million tons, with New Acland ramping up and Bengalla stable.

• Bengalla expected to recover to 13.4Mtpa ROM coal run rate in 2H FY26 after weather and logistics disruptions.

• New Acland's FY26 production growth is limited by rail capacity constraints.

• Bengalla's FY26 FOB cash cost guidance is AUD 81–89/ton, up from AUD 76.5/ton in FY25.

• Focus remains on maintaining low-cost production and operational safety.