New Hope Corporation delivered results that surpassed full-year guidance on both production and sales volumes for the 2026 financial year. Saleable coal production reached 11.5 million tonnes, exceeding the upper end of the 10.2 to 11.5 million tonne guidance range, while coal sales of 11.8 million tonnes represented an 11.8 percent increase on the prior year. This outperformance reflects strong operational execution at Bengalla Mine, which achieved production in excess of its 13.4 million tonne annual target on a 100 percent basis.
The production upside came with favorable pricing conditions that strengthened quarter-on-quarter. The company realized an average sales price of $155.8 per tonne in the quarter, representing a 10.7 percent improvement from the previous quarter, driven by movements in both the Newcastle 6000 and API-5 coal indices. This combination of volume and price growth translated to underlying EBITDA of $169.3 million for the quarter, a 30.1 percent increase on the prior quarter, with full-year EBITDA of $514.3 million. For the full year, Bengalla achieved an FOB cash cost of $81.3 per sales tonne, excluding state royalties, which aligns with the low end of the company’s cost guidance.
Cash generation remained solid, with operating cash flow of $564.1 million for the full year and available cash of $778.5 million as at 31 July 2026. This balance sheet position provides the company with flexibility at a time when coal markets face structural headwinds from the global energy transition. The quarterly metrics show ROM coal production of 4.7 million tonnes, up 11.3 percent from the previous quarter, indicating accelerating momentum into the new financial year.
On safety, the company reported a mixed quarter. The All-Injury Frequency Rate improved to 27.88 from 35.22 in the prior quarter, but the High Potential Event Frequency Rate increased to 4.65 from 1.21, prompting renewed focus on critical risk controls across the group. Management implemented safety pauses and targeted verification of controls in response to the heightened frequency of high potential events.
Investors will likely focus on whether the company can maintain cost discipline as it navigates inflationary pressures and rising input costs, and whether the recent strength in coal pricing proves sustainable or cyclical. The next milestone to watch is the first-quarter results for the 2027 financial year, which will signal production guidance and management commentary on market conditions and capital allocation. This announcement is price sensitive and has been flagged as material by the ASX.
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About New Hope Corporation Limited (ASX: NHC)
New Hope Corporation is an Australian thermal coal miner operating the 100% owned New Acland coal mine in Queensland and the 80% owned Bengalla coal mine in New South Wales. The company sells the majority of its thermal coal production to seaborne export markets throughout Asia, and also engages in port handling, logistics, oil and gas development and production, and agricultural operations.
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