Coronado Global Resources swings back to profit in Q2 2026, earnings jump ~US$100M
CODQL has more than doubled off its 52-week low of $0.01.
Summary
Coronado Global Resources returned to positive earnings in Q2 2026, posting a ~US$100M improvement on higher production, lower costs, and stronger met coal sales. Cash stands at US$98M, and the Logan Complex sale is expected to close soon, removing a drag on earnings.
Key Events · Earnings and Guidance · CODQL
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Return to Positive Earnings
Compared to Q1 2026, earnings improved by ~US$100M, fueled by a 39.3% jump in saleable production to 4.1Mt and a 27.7% decline in mining cash costs to US$97.9/t.
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Operational Recovery at Curragh
Curragh ROM production soared 74.0% to 3.9Mt, while saleable production climbed 75.6% to 3.0Mt, underpinned by record CHPP operating hours and better plant throughput.
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Buchanan Expansion Delivers
Buchanan posted a record half-year ROM production of 4.7Mt, up 26.2% year-over-year, and generated ~US$63M in earnings in H1 2026, with mining cash costs falling to US$91.2/t.
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Logan Complex Sale Nears Close
The Logan Complex sale is expected to close soon, which will eliminate ~US$30M in H1 2026 losses and strengthen the Group's earnings and cash flow profile.
Analysis · CODQL · Energy & Transportation
After a US$318.6M net loss in Q1, Coronado Global Resources delivered a sharp operational and financial rebound in Q2 2026, returning to positive earnings. Saleable production surged 39.3% to 4.1Mt, mining cash costs dropped 27.7% to US$97.9/t, and the earnings improvement reached ~US$100M. With US$98M in cash, a pending Logan Complex sale set to shed US$30M in H1 losses, and a structural reset nearing completion, the results mark a potential turning point following a period of severe financial strain. At just $0.18 per share, the operational recovery is critical to survival.
At the time of this filing, CODQL was trading at $0.18 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $276.2M. The 52-week trading range was $0.01 to $1.80. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.