Key facts
- First-quarter coal output rose 22% to 11 million metric tons.
- Average realized price per ton of coal sold was A$226, up from A$188 a year ago.
- Production was boosted by Queensland operations and New South Wales mines.
Australia's Whitehaven Coal reported a 22% increase in first-quarter output, reaching 11 million metric tons for the three months ended September 30, surpassing the Visible Alpha consensus estimate of 9.5 million tons. The company attributed the rise to resilient production at its Queensland operations and a volume recovery at its New South Wales mines. The average realized price per ton of coal sold increased to A$226 from A$188 a year ago. Whitehaven Coal expects the temporary impact of sales slippages and elevated inventories to unwind in the second quarter.