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Jun 30, 2022
Coronado Q2 2022 Earnings Report
Coronado delivered record financial results driven by higher realised Met coal pricing despite lower Sales Volumes.
Key Takeaways
Coronado Global Resources Inc. reported record half year financial results for the six months ended June 30, 2022. The company achieved record revenue, net income, and adjusted EBITDA, distributing $351 million in cash dividends while maintaining a net cash position. The results were driven by a higher price environment for metallurgical coal products and structural changes to the business.
Delivered record Revenue, Net Income and Adjusted EBITDA.
Distributed $351 million in cash dividends to Shareholders while remaining in a Net Cash position.
Improved reportable safety rates year-on-year.
Coronado will divert Metallurgical tonnes into Thermal markets to achieve higher realisations where we have the flexibility to do so.
Forward Guidance
Mining Cost per Tonne Sold guidance for FY2022 is revised to $79.0 - $81.0 due to unforeseen events outside of our control including global inflationary pressures exceeding original budget estimates and year-to-date wet weather impacts and geological issues impacting production.
Positive Outlook
- Anticipates that cost increases will be partly mitigated by lower FX and incremental productivity improvements in H2 2022.
- The prospect of strong financial returns remains despite recent reductions in Metallurgical coal prices.
- Thermal pricing remains at significantly elevated levels.
- Coronado’s capital investment in its operations drives the second half weighted production plans, which we anticipate will see us deliver production levels exceeding 2021 levels
- Expectations of India restocking following the monsoon season.
Challenges Ahead
- Recent reductions in Metallurgical coal prices.
- Global economic confidence has recently fallen, given global inflationary pressures and rising interest rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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