New Hope (NHC) Q2 2026 TU earnings summary

Executive summary

• Group run-of-mine coal production rose 4.8% sequentially to 4.1 Mt, with saleable coal production up 3% to 2.8 Mt and coal sales up 8.2% to 2.9 Mt, reflecting improved mining and logistics performance.

• Underlying EBITDA for the quarter was AUD 107 million, stable sequentially; half-year underlying EBITDA was AUD 215 million, down 59% year-over-year due to lower realized coal prices.

• Available cash balance at quarter-end was AUD 616.8 million, including cash and fixed income investments.

• Safety metrics deteriorated, with TRIR rising to 3.8 and AIFR increasing to 35.20.

Financial highlights

• Average realized price per ton was AUD 139, up 1.7% from the previous quarter but down from AUD 173 per ton year-over-year.

• Cash flow from operating activities for H1 FY26 was AUD 185 million, down from AUD 316.9 million in H1 FY25 due to lower benchmark coal prices.

• Group saleable coal production was 2.8% higher quarter-on-quarter at 2.8 Mt.

Outlook and guidance

• Confident in achieving full-year physical and cash cost guidance.

• Bengalla Mine is expected to return to a 13.4 Mtpa ROM coal production rate in H2 FY26 as pit sequence realignment progresses.

• FY26 sustaining capital guidance for Bengalla Mine reduced to AUD 100–130 million from AUD 130–160 million, reflecting capital optimization.

• Group FY26 guidance: ROM coal production 15.7–17.7 Mt, saleable coal production and sales 10.2–11.5 Mt.