New Hope Corp FY26 Results and Dividend Announcement
Australian coal miner New Hope Corp (ASX:NHC) saw its shares climb 3.3% to A$6.49 on Tuesday, reaching the highest level since late‑January 2023, while the S&P/ASX 200 energy sub‑index slipped 1%. The price rally was driven primarily by the declaration of a final dividend of 30 cents per share, fully franked, which is roughly 89% above the Visible Alpha consensus of 15.9 cents.
The company reported FY26 net profit after tax of A$161 million, a steep 63.4% decline from the prior period and missing the consensus estimate of A$182.2 million by 11.6%. Revenue was essentially unchanged at A$1.77 billion, down 0.5% year‑on‑year.
Realised coal prices, inclusive of hedging, fell 10% to A$145.20 per tonne, compressing the underlying margin to A$45 per tonne, a 30.1% reduction. Depreciation and amortisation expenses rose to A$238.7 million from A$191 million, adding further pressure to operating earnings.
Despite the profit squeeze, volume growth provided some offset: saleable coal production increased 7.6% to 11.5 million tonnes, and total coal sales rose 11.8% to 11.8 million tonnes.
Operationally, the New Acland project is ramping toward an annual output of about 5 million tonnes, while the Bengalla mine returned to a 13.4‑million‑tonne annualised run rate in the second half of the year after a pit‑sequence realignment. New Hope is also evaluating options to extend Bengalla beyond its current approvals.
Including a 10‑cent interim payment, total ordinary dividends for FY26 amount to 40 cents per share, up from 34 cents a year earlier.