Whitehaven Coal beat market estimates for quarterly output on Friday, supported by robust production from its Queensland operations. The coal miner reported managed run of mine production of 11 million metric tons for the three months ended September 30, up from 9 million tons a year earlier and above the Visible Alpha consensus estimate of 9.5 million tons.
The growth came from the assets Whitehaven bought from BHP. Output from its Queensland operations, including the Blackwater and Daunia mines acquired in a 4.1 billion dollar deal in early 2024, rose 17 percent from a year earlier. Its New South Wales thermal coal operations recorded a 27 percent increase in output, with the Narrabri mine benefiting from uninterrupted production during the quarter.
Sales did not keep pace. Total managed coal sales were 7.7 million tons, compared with 7.8 million tons last year, and the company said the temporary impact of delayed sales and elevated inventories was expected to unwind in the second quarter.
Whitehaven said stronger coal prices, along with the nearing completion of deferred and contingent payments related to the Queensland acquisition, would support cash generation and improve financial flexibility through the rest of fiscal 2027. Shares fell as much as 3.1 percent in early trading, in line with a broader energy gauge down 1.4 percent, so the market treated the beat as an operating result rather than a re rating.