Sydney, Feb 20, 2026, 18:01 AEDT — Market closed.
- Whitehaven dropped 2.7% to close at A$7.81 on Friday.
- Shares slipped after the company posted an underlying loss for the first half and announced a limited on-market buyback.
- Coal prices are on investors’ radar, along with a delayed acquisition payment expected in April.
Whitehaven Coal dropped another 2.7% to close at A$7.81 on Friday, deepening losses that started when the miner signaled softer first-half earnings. (Investing.com)
Whitehaven’s shares slid for a second straight day, a move that underscores the challenge it faces: managing weaker coal prices, delivering on shareholder payouts, and maintaining financial room before a hefty cash payment on its Queensland acquisition comes due.
This comes right in the thick of Australia’s reporting season, a stretch where investors haven’t hesitated to hit miners hard at the slightest sign of softening in prices, costs, or output.
Whitehaven turned in revenue of roughly A$2.5 billion for the half-year ended Dec. 31, as reported Thursday, slipping from last year’s tally after its average coal price dropped to A$189 per tonne. The company swung to an underlying net loss after tax of A$19 million. Underlying EBITDA landed at A$446 million. (Whitehaven Coal)
The company reported net debt of A$710 million as of Dec. 31, with US$500 million of that amount set aside for a second deferred acquisition payment due in April.
Chief executive Paul Flynn described the period as “in line with or better than plan,” though he noted that prices remained “relatively soft” during the half.
Whitehaven set a fully franked interim dividend at 4 Australian cents per share, with the payout scheduled for March 13. The company also committed to an on-market buyback, planning to spend as much as A$32 million across the next six months.
The company plans to kick off its buyback on Feb. 20, with the program scheduled to continue until June 30, depending on market conditions and pricing, according to a filing. (Company Announcements)
The earnings came in as the company flagged ongoing cyclical softness in both metallurgical and thermal coal markets. Still, management pointed to possible upside if supply tightens—Cyclone Koji has already disrupted some operations, and there’s talk Indonesia could restrict production, which might help cool off the current glut in seaborne thermal coal. (Mining Weekly)
Whitehaven stuck to its fiscal 2026 outlook. The company said coal sales and production are pushing toward the top of its forecast, with unit costs likely landing near the lower bound.
Still, price remains the key lever here. Should coal markets remain weak, or if trade tensions persist and make buyers hesitant, sentiment could stay shaky—especially with that April payment on the horizon. The buyback and dividend might not cut it.
