Coronado Global Resources Inc. Q3 2026 Earnings Recap

The stock fell 5.9% after Coronado cut FY26 saleable production guidance to 14–14.5 million tonnes and mining cash cost guidance to $105–$110 per tonne. The likely disappointment is that slower-than-planned Mammoth ramp-up, Buchanan’s disruption and the time needed to improve Curragh’s CHPPs are still constraining saleable output, despite better ROM production and lower mining costs.

Key Takeaways

• September-quarter EBITDA was approximately $44 million, up from $7 million in the prior quarter; management described it as the strongest quarterly performance since June 2024.
• Curragh produced 4.2 million tonnes of ROM coal, its highest quarterly level in six years. ROM inventory rose by 600,000 tonnes to approximately 830,000 tonnes.
• Curragh mining cash costs fell by approximately $18 million quarter-on-quarter. HCC production increased by 200,000 tonnes, while the group’s realized-price relativity to the index improved by 2%.
• Buchanan ROM production was approximately 700,000 tonnes lower than in June after a geological fault disrupted one of its two panels; management said longwall advance rates have returned to normal.
• Mammoth’s ramp-up remains slower than hoped amid faulting in two panels. At Curragh, management is targeting about 10% improvement in CHPP uptime and rate, with further yield improvement also planned.