Sydney, Feb 20, 2026, 18:01 AEDT — The session wrapped up with the market closed.
- Whitehaven lost 2.7%, finishing at A$7.81 on Friday.
- The stock dropped after the company reported an underlying loss for the first half, pairing that news with a modest on-market buyback plan.
- Investors are watching coal prices, and an acquisition payment—now postponed—looks set for April.
Shares of Whitehaven Coal slid 2.7% to finish at A$7.81 on Friday, adding to declines since the miner flagged weaker first-half earnings.
Whitehaven shares dropped again, marking their second day in the red. The stock is feeling the strain as the company juggles softer coal prices, promises of returns to shareholders, and the need to keep enough cash on hand ahead of a sizable payout for its Queensland acquisition.
Right in the middle of Australia’s reporting season, miners have taken a beating—investors quick to punish even a hint of weaker prices, rising costs, or slumping output.
Whitehaven posted about A$2.5 billion in revenue for the half-year ended Dec. 31, the company said Thursday, down from the prior year as its average coal price slid to A$189 per tonne. The miner reported an underlying net loss after tax of A$19 million. Underlying EBITDA came in at A$446 million.
Net debt stood at A$710 million as of Dec. 31, the company said. Out of that, US$500 million is earmarked for a second deferred acquisition payment scheduled for April.
Chief executive Paul Flynn said the period was “in line with or better than plan.” Even so, he pointed out that prices stayed “relatively soft” during the half.
Whitehaven declared a fully franked interim dividend of 4 Australian cents a share, payable on March 13. On top of that, the company authorized an on-market buyback, allocating up to A$32 million over the coming six months.
The buyback is set to start Feb. 20 and could run through June 30, the company said in a filing, though timing will hinge on pricing and market conditions.
The company reported its earnings while highlighting persistent weakness in both metallurgical and thermal coal markets. Even so, executives noted there could be some relief if supply contracts. Cyclone Koji has already caused operational hiccups, and speculation is swirling that Indonesia might clamp down on output—moves that could ease the oversupply weighing on seaborne thermal coal.
Whitehaven reaffirmed its fiscal 2026 guidance. Coal sales and production numbers are trending toward the upper end of its projected range, the company said, while unit costs are shaping up to be near the lower limit.
Even so, price is still the main factor. If coal markets don’t recover or trade tensions keep buyers on the sidelines, nerves could stay rattled, particularly with April’s payment looming. The buyback and dividend may fall short.
