Whitehaven (ASX:WHC) earnings to touch AU$3.0B in FY22

3 min read | July 18, 2022 12:15 PM AEST | By Ritwika

Google News:

Whitehaven (ASX:WHC) earnings to touch AU$3.0B in FY22 — Image source: Image source: © Cammeraydave | Megapixl.com

Recent News

ASX Technology Leaders on ASX 200 Revenue and Scale

Can Hidden ASX Names Become Tomorrow’s Market Leaders?

How Are ASX 300 Gold Miners Responding to Record Gold?

ASX Gold Mining Outlook on ASX 100 Costs and Cash Flow

Make Kalkine Media
My Trusted Source

Highlights:

Australian coal miner and explorer opened up trading more than 8% strong on the ASX today (18 July).

The company’s share price likely got this boost from its upbeat Q4 FY22 operational updates.

Whitehaven has achieved production as per the guidance in FY22. The company expects to deliver an EBITDA worth AU$3.0 billion in the same financial year.

Australian coal miner Whitehaven Coal Limited (ASX:WHC), on Monday (18 July), released its quarterly production results for the quarter ended on 30 June 2022 (Q4 FY22). The company believed that it has delivered strong results in the quarter, based on record coal prices and production as per guidance.

Driven by this price-sensitive announcement, Whitehaven opened trading 8.377% stronger at AU$6.08 apiece at 10:15 AM AEST on the ASX today (18 July).

Details of Whitehaven’s Q4 FY22 performance:

Whitehaven CEO and Managing Director Paul Flynn said that the company’s top-notch quality coal experienced high global demand in FY22. Therefore, in FY22, Whitehaven achieved a record average coal price worth AU$325/t. At the same time, the record average coal price in Q4 FY22 was AU$514/t.

Furthermore, the coal producer expects to deliver an EBITDA of AU$3 billion in FY22, compared to AU$0.2 billion in FY21. However, it is subjected to the final audit that is likely to be released on 25 August 2022.

Whitehaven’s managed run-of-mine production was up by 21% in the March quarter (Q3 FY22). On the other hand, the company delivered a managed run-of-mine production of 20.0 Mt, which was aligned with the guidance of 19.0-20.5Mt.

The company also reported a managed sales of produced coal of 17.6Mt, which was as per the guidance of 17.2-17.8Mt.

At the end of FY22 (30 June), the company reported a cash balance of AU$1 billion, with AU$1.4 billion of cash generated in Q4 FY22.

Whitehaven further aims to complete its 10% share buyback within an updated total cost of AU$550 million. The company has already completed buying 76.37 million shares of its own worth AU$362.6 million.

Supported by the above-mentioned factors, Paul Flynn also added that Whitehaven’s strong operational performance and sales have allowed the company to achieve its target in FY22 despite a challenging market condition during the COVID-19 crisis.

About Whitehaven:

Whitehaven’s share price performance on the ASX:

Whitehaven shares have performed exceptionally well on the ASX in the last one year. The coal miner’s share price has skyrocketed by 179.25% on the ASX in a year’s time. Moreover, Whitehaven’s year-to-date basis (YTD) share price also surged by 114.49% (as of 10:15 AM AEST on the ASX today, 18 July).

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.