The Whitehaven Coal Ltd (ASX: WHC) share price is in focus after the company reported managed ROM coal production of 9.5 million tonnes for the March quarter, with equity sales of produced coal steady at 6.8 million tonnes. Net debt reduced to A$0.6 billion while the business is tracking towards targeted annualised cost savings.
What did Whitehaven Coal report?
- Managed ROM coal production: 9.5Mt in Q3 FY26 (down 14% on previous quarter due to seasonality)
- Equity sales of produced coal: 6.8Mt, broadly in line with the December quarter
- Average achieved prices: QLD A$242/t (up 8% QoQ); NSW A$175/t (up 7% QoQ)
- Net debt: A$0.6 billion as at 31 March 2026, down from A$0.7 billion at 31 December
- Refinancing secured: US$900 million in senior secured notes and US$600 million bank funding, aiming for annual interest savings of A$50â55 million
- On track for A$60â80 million of targeted annualised cost savings by 30 June 2026
What else do investors need to know?
Operationally, there was a sharp 28% drop in QLD managed ROM coal production due to wet-season disruptions, but sales rose 9% as stock drawdowns continued. NSW managed ROM production held steady, supported by strong results at Maules Creek, offsetting lower longwall output at Narrabri.
The business continued its capital management initiatives, repurchasing 1.4 million shares for A$11 million in the quarter. Full-year FY26 share buy-backs have reached 7.7 million shares for a total of A$56 million. The refinancing of debt facilities should lower funding costs and extend Whitehaven’s average debt maturity.
Development work continued at the Winchester South and Vickery projects, with A$4 million spent on development and an additional A$1 million on exploration. The company remains disciplined in allocating capital to future opportunities, subject to board review and market conditions.
What did Whitehaven Coal management say?
CEO & Managing Director Paul Flynn said:
Production in the March quarter was broadly in line with plan reflecting strong outcomes from NSW open cut operations and solid results from Queensland operations in a weather impacted quarter. For the first nine months of the year we have produced 29.5Mt of ROM, and we are on track to be firmly in the upper half of guidance for FY26. Equity sales of 6.8Mt for the quarter were also strong and are tracking at the upper end of guidance for the year… Our successful refinancing of the acquisition debt facility and smaller finance facilities will deliver considerable savings in the order of ~A$50-55 million per annum.
What’s next for Whitehaven Coal?
Whitehaven Coal has left FY26 guidance unchanged, expecting to land in the upper range for ROM coal production and coal sales, with unit costs tracking near the guidance midpoint. Capital expenditure is trending toward the lower end of the range, and ongoing cost discipline remains a focus.
The business expects to benefit from positive market dynamics, with higher metallurgical and thermal coal prices and a healthy balance sheet. Board reviews of new developments such as Vickery and Winchester South remain in progress, depending on project approvals and market opportunities.
Whitehaven Coal share price snapshot
Over the past 12 months, Whitehaven Coal shares have risen 59%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 10% over the same period.
The post Whitehaven Coal shares: Q3 FY26 shows steady sales, improved pricing appeared first on The Motley Fool Australia.
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