Whitehaven profit drops 31%, lowers dividend
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The news: Whitehaven Coal has posted a fall in profit as metallurgical and thermal coal markets experienced a downturn.
The numbers: The coal miner posted a net profit of $69 million, down 31% compared to the previous corresponding period, for the half-year to 31 December 2025.
Revenue tumbled 28% to $2.48 billion, compared to $3.43 billion during the prior corresponding period.
Underlying earnings before tax and interest was 54% lower to $446 million, from $960 million a year prior.
The company also announced a 9 cent interim dividend, down from 4 cents.
The context: Whitehaven Coal said the weaker net profit in the first-half was driven by price weakness in metallurgical and thermal coal markets amid US tariffs uncertainty, and a surplus of Chinese steel in the global steel market.
It said it expects structural shortfall in the global metallurgical coal supply in the long-term, due to the depletion of HCC production from Australia and rising seaborne demand from India. These factors are expected to support Whitehaven's coal portfolio.
The source: ASX
