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Investing.com-- Shares of Whitehaven Coal (ASX:WHC) fell to a one-month low on Thursday after the miner posted a steep drop in annual profit, with weaker coal prices hitting earnings despite record production following its Queensland acquisitions.
The company reported underlying net profit after tax of A$319 million for the year ended June 30, down 57% from A$740 million a year earlier.
Sydney-listed shares of the company dropped as much as 4.2% on Thursday to A$6.16, their lowest since July 21. The stock fell for its seventh consecutive session.
Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) held steady at A$1.4 billion, but the second half contribution slid to A$400 million from A$1 billion in the first half as markets softened.
Revenue rose 53% to A$5.8 billion on higher metallurgical coal sales, yet average realised prices dropped 11-14% across its New South Wales and Queensland operations.
The miner declared a fully franked final dividend of 6 Australian cents per share.
Whitehaven said coal markets had stabilised and were showing signs of recovery, but flagged further cost controls in fiscal 2026 amid trade uncertainty and soft steel demand.