Coronado Global Resources Reports Revenue Decline Amid Coal Price and Production Challenges

Coronado Global Resources Inc. (ASX: CRN), an international coal mining company based in Brisbane, posted Q3 FY24 revenue of $608 million, reflecting a 9.7% quarterly decline, with a year-to-date total of $1.95 billion—down 11.8% from last year. The revenue drop is attributed to lower coal prices and a decrease in the PLV HCC FOB AUS index. Operational disruptions at its Curragh complex in Australia, due to adverse weather and equipment issues, impacted production.

To mitigate challenges, Coronado revised its production guidance, reducing its target to 15.4–16.0 MMt and increasing cost expectations. However, stable production in the US, aided by improvements at the Buchanan mine, bolstered the company’s output. Coronado recently refinanced $400 million in Senior Secured Notes, securing a lower interest rate to support its liquidity and long-term growth initiatives.

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