Loading...
•
Jun 30, 2024
•/
Coronado Q2 2024 Earnings Report
Coronado's operational improvements at Curragh led to higher production, sales, lower costs, and improved margins.
Key Takeaways
Coronado Global Resources Inc. reported a decrease in revenue and net income for HY24 compared to HY23, but Q2 2024 showed material improvement in production, sales, costs, and revenue due to operational improvements. The company reaffirmed its FY24 guidance and continues to invest in organic growth projects.
Group Revenue decreased by 10% to $1,342 million due to lower average Met Coal prices.
Net Income decreased by 91.9% to $16.2 million.
Group Average Realised Met Coal Price was $199.3 per tonne.
Available liquidity as at 30 June 2024 was $414 million, with net debt of $5 million.
Revenue by Geographic Location
Forward Guidance
Coronado reaffirms previously announced FY24 guidance for Saleable Production (16.4 – 17.2 Mt); Mining Costs Per Tonne Sold ($95 - $99/t), and Capital Expenditure ($220 million - $250 million).
Positive Outlook
- Saleable Production between 16.4 and 17.2 Mt
- Mining Costs Per Tonne Sold between $95 and $99
- Capital Expenditure between $220 million and $250 million
- Expected strong prices on the back of Indian restocking appetite after the monsoon season.
- Met Coal supply is expected to be restricted with mine production issues from peers.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...