New Hope Corporation (ASX:NHC): What Do FY26 Coal Volumes and Earnings Reveal?

Aditi Sarkar

11 November 2026 03:37 PM AEDT

New Hope Corporation (ASX:NHC): What Do FY26 Coal Volumes and Earnings Reveal?

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Highlights

New Hope Corporation (ASX:NHC) traded at AUD 5.35 on 11 November 2026, declined 0.47% during the session.
FY26 saleable coal production reached 11.5 million tonnes, up 7.6% year on year.
Coal sales of 11.8 million tonnes in FY26 rose 11.8% year on year.
FY26 underlying EBITDA was AUD 514.3 million and net profit after tax was AUD 161.0 million.

New Hope Corporation (ASX:NHC) produces thermal coal through Australian Mining operations, including the Bengalla and New Acland mines, and markets coal into seaborne energy markets. On 11 November 2026, shares of New Hope Corporation (ASX:NHC) changed hands at AUD 5.35, with a reported session movement of -0.47%. Recent 2026 developments place emphasis on coal operations, reported financial performance and the milestones set out in its current project or operating programmes.

Coal Production Across Bengalla and New Acland

New Hope Corporation (ASX:NHC) operates the Bengalla open-cut coal mine in New South Wales and the New Acland mine in Queensland. Its reported operating results reflect both mine-level production and the Volume and timing of coal sales. Production and sales are not identical measures: inventory movements and shipments affect the amount sold during a reporting period. For FY26, both metrics finished at or above the top of management’s guidance ranges.

Bengalla recovered its pit sequence following wet-weather disruption and returned to a 13.4 million-tonne annualised run-of-mine rate on a 100% basis in the second half of FY26. New Acland continued ramping up its Stage 3 operations and development required for access to Manning Vale West.

FY26 Volumes, Costs and Earnings

For the financial year ended 31 July 2026, New Hope Corporation (ASX:NHC) produced 11.5 million tonnes of saleable coal and sold 11.8 million tonnes. Production increased 7.6% from FY25, while sales advanced 11.8%. Both measures exceeded the upper end of the FY26 guidance range. This higher physical activity did not translate into higher reported earnings, illustrating the importance of sale prices, costs and Depreciation alongside volume growth.

Group free-on-board cash costs rose to AUD 88.9 per tonne in FY26, compared with AUD 82.4 per tonne in FY25. The company attributed the increase partly to greater prime overburden movement as Bengalla’s mining sequence was reset. Underlying EBITDA of AUD 514.3 million compared with AUD 765.8 million a year earlier, while net profit after tax declined to AUD 161.0 million from AUD 439.4 million.

Dividend, Financing and Balance Sheet

Cash generated from Operating Activities totalled AUD 564.1 million in FY26. New Hope Corporation (ASX:NHC) reported AUD 778.5 million in available cash at 31 July 2026, including fixed-income investments. The group also issued AUD 300 million of senior unsecured convertible notes due in 2032 while repurchasing AUD 293.3 million principal of notes due in 2029.

The board declared a fully franked final Dividend of 30 Australian cents a share, payable on 15 October 2026. Coal prices, available cash, Capital commitments and future board decisions will determine subsequent payments. New Hope Corporation (ASX:NHC) also held a 25.97% Equity interest in Malabar Resources after increasing its stake in FY26.

Mine Sequencing Risks and Next Reporting Date

Changes in mine sequencing can influence both cash costs and the timing of saleable output. Investors can assess whether Bengalla maintains its resumed operating rate and whether New Acland continues progressing towards its planned mine configuration.

New Hope Corporation (ASX:NHC) scheduled its next quarterly activities report for 16 November 2026, covering the period ended 31 October. That report should provide the next formal comparison for production, sales and costs. The FY26 figures show volume growth alongside lower earnings, making operating margins and cash conversion particularly relevant monitoring measures.

Key Insights

New Hope Corporation (ASX:NHC) is being assessed against its reported 2026 coal activity and the results or milestones associated with its operations. The latest disclosures show both operating progress and specific execution or financial considerations. Future company results, Cash Flow and completion of outstanding project steps will provide the evidence for evaluating subsequent performance; equity trading prices should remain separate from underlying Commodity quotations.

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