Monitor the 10-Q release on May 12 for audited financials and the final Logan impairment charge. The structural reset and improving met coal pricing (PLV ~$230/t into mid-2026) could support cash flow recovery in Q2, but the sharp rise in unit costs and declining liquidity warrant caution.
Price Chart
Executive Summary
Coronado Global Resources reported Q1 2026 results with total revenues of $467.4M, up 4.0% from $449.2M in Q1 2025, driven by higher realized met coal prices (+9.3% YoY to $165.4/t) and improved thermal coal receipts from the Stanwell reset. However, saleable production fell 14.8% YoY to 3.0 Mt due to planned maintenance and the Mammoth suspension, while unit mining cash costs surged 31.8% to $135.3/t. The company expects to impair the idled Logan Complex by ~$160M and available liquidity dropped to $121M from $172M at year-end 2025.
Key Facts
- Total revenues $467.4M in Q1 2026 vs $449.2M in Q1 2025 (+4.0%)
- Coal revenues $460.7M vs $441.5M in Q1 2025 (+4.3%)
- Group average realized pricing $133.2/t, up 9.1% from $122.0/t in Q4 2025
- Group realized Met price $165.4/t, up 9.3% from $151.3/t in Q1 2025
- Saleable production 3.0 Mt, down 14.8% from 3.5 Mt in Q1 2025
- Sales volumes 3.5 Mt, flat vs 3.4 Mt in Q1 2025
- Average mining cash cost $135.3/t, up 31.8% from $102.7/t in Q1 2025
- Available liquidity $121M, down from $172M at Dec 31, 2025
- Expects ~$160M non-cash impairment of Logan Complex
- Buchanan EBITDA more than doubled to ~$30M vs Q4 2025
- No Stanwell rebate payable; $26M received under revised arrangements
- Capital expenditure $34M in the quarter
Financial Impact
Revenues up ~$18M YoY but cash costs surged; ~$160M non-cash impairment expected; liquidity down $51M
Risk Factors
- Further deterioration in met coal prices would pressure margins
- Logan idling and potential disposal may incur additional costs
- High unit costs ($135.3/t) may persist if production does not ramp as expected
- Liquidity at $121M is tight relative to $697M debt
- AUD strengthening (~0.70 vs 0.68 guidance) creates ~$15M cash flow headwind per cent
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-049612 |
| Document: tm2612816d1_8k.htm | 0001104659-26-049612 |
| Document: 0001104659-26-049612-index-headers.html | 0001104659-26-049612 |
| Document: 0001104659-26-049612-index.html | 0001104659-26-049612 |
| Document: 0001104659-26-049612.txt | 0001104659-26-049612 |
| 8-K Data (Synthetic) | 0001104659-26-049612 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | 8-K | $0.1150 $0.1150 | · 0.00% | ▼ −0.52% | $0.1150 (−0.00%) |
Oct 16, 2026 11d ago | 8-K | $0.1200 $0.1200 | · 0.00% | ▼ −0.42% | $0.1150 (−4.17%) |
Aug 5, 2026 11w ago | 8-K | $0.1821 $0.1821 | · 0.00% | ▼ −0.61% | $0.1150 (−36.85%) |
Jul 22, 2026 13w ago | 8-K | $0.1821 $0.1821 | · 0.00% | ▲ +1.23% | $0.1150 (−36.85%) |
Jul 13, 2026 15w ago | 8-K | $0.1821 $0.1821 | · 0.00% | ▼ −0.40% | $0.1150 (−36.85%) |
Jun 4, 2026 20w ago | 8-K | $0.1800 $0.1850 | ▲ +2.78% | ▲ +5.38% | $0.1150 (−36.11%) |
Apr 27, 2026 26w ago | 8-K | $0.1856 $0.1856 | · 0.00% | ▲ +0.01% | $0.1150 (−38.04%) |
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