$CODQL

Coronado Global Resources Inc.

CIK:0001770561|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Coal revenues	$ 506,371	$ 459,337	$ 966,862	$ 900,788
Other revenues	7,758	8,542	14,459	16,339
Total revenues	514,129	467,879	981,321	917,127
Costs and expenses:
Cost of coal revenues (exclusive of items shown separately below)	357,597	339,632	801,499	729,923
Depreciation, depletion and amortization	46,186	45,508	89,523	86,029
Freight expenses	93,801	62,706	179,524	122,894
Stanwell rebate	0	21,931	0	43,784
Other royalties	44,570	38,014	74,918	79,367
Selling, general, and administrative expenses	10,479	7,600	15,109	15,933
Restructuring costs	6,018	0	6,018	0
Total costs and expenses	558,651	515,391	1,166,591	1,077,930
Other (expense) income:
Interest expense, net	(35,425)	(20,964)	(69,177)	(38,862)
Loss on debt extinguishment	0	(1,050)	0	(1,050)
Impairment of assets	(17,704)	0	(177,459)	0
Decrease (increase) in provision for credit losses	37	(183)	164	(813)
Other, net	(3,197)	1,972	809	(241)
Total other expense, net	(56,289)	(20,225)	(245,663)	(40,966)
Loss before tax	(100,811)	(67,737)	(430,933)	(201,769)
Income tax benefit (expense)	1,382	(8,466)	12,914	29,368
Net loss attributable to Coronado Global Resources Inc.	(99,429)	(76,203)	(418,019)	(172,401)
Other comprehensive income, net of income taxes:
Foreign currency translation adjustments	1,523	7,008	3,434	9,834
Net loss on cash flow hedges	(809)	0	(3,348)	0
Total other comprehensive income	714	7,008	86	9,834
Total comprehensive loss attributable to Coronado Global Resources Inc.	$ (98,715)	$ (69,195)	$ (417,933)	$ (162,567)
Loss per share of common stock
Basic	$ (0.59)	$ (0.45)	$ (2.49)	$ (1.03)
Diluted	$ (0.59)	$ (0.45)	$ (2.49)	$ (1.03)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (418,019)	$ (172,401)
Adjustments to reconcile net loss to cash and restricted cash provided by operating activities:
Depreciation, depletion and amortization	89,523	86,029
Impairment of assets	177,459	0
Amortization of right of use asset - operating leases	15,556	12,564
Amortization of deferred financing costs	1,272	1,363
Loss on debt extinguishment	0	1,050
Non-cash interest expense	34,988	18,162
Amortization of contract obligations	(10,372)	(12,774)
Loss (gain) on disposal of property, plant and equipment	1,703	(670)
Loss on disposal of idled asset	0	2,239
Equity-based compensation expense	(3,851)	(185)
Deferred income taxes	(13,621)	(25,339)
Reclamation of asset retirement obligations	(1,075)	(2,742)
(Decrease) increase in provision for discounting and credit losses	(164)	813
Other non-cash adjustments	4,767	(105)
Changes in operating assets and liabilities:
Accounts receivable	55,599	66,266
Inventories	(24,402)	(18,423)
Other assets	17,746	(9,050)
Contract obligations	0	96,972
Accounts payable	13,794	(3,766)
Accrued expenses and other current liabilities	(12,016)	7,678
Operating lease liabilities	(15,437)	(11,532)
Income tax payable	725	(839)
Change in other liabilities	18,930	4,778
Net cash (used in) from operating activities	(66,895)	40,088
Cash flows from investing activities:
Capital expenditures	(58,640)	(147,401)
Proceeds from disposal of idle and other assets	901	1,464
Purchase of restricted and other deposits	(11,287)	(54,804)
Redemption of restricted and other deposits	0	23,741
Net cash used in investing activities	(69,026)	(177,000)
Cash flows from financing activities:
Proceeds from interest bearing liabilities and other financial liabilities	66,153	75,000
Debt issuance costs and other financing costs	0	(4,098)
Principal payments on interest bearing liabilities and other financial liabilities	(1,726)	(2,816)
Principal payments on finance lease obligations	(3,668)	(872)
Dividends paid	0	(8,333)
Net cash from financing activities	60,759	58,881
Net decrease in cash and cash equivalents	(75,162)	(78,031)
Effect of exchange rate changes on cash and cash equivalents	(184)	242
Cash and cash equivalents at beginning of period	173,032	339,625
Cash and cash equivalents at end of period	97,686	261,836
Supplemental disclosure of cash flow information:
Cash payments for interest	36,602	22,890
Cash refund for taxes	(3,834)	(1,620)
Restricted cash	$ 0	$ 252

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 97,686	$ 173,032
Trade receivables, net	165,071	250,921
Inventories	207,744	195,165
Other current assets	95,717	87,678
Assets held for sale	51,875	0
Total current assets	618,093	706,796
Non-current assets:
Property, plant and equipment, net	1,433,382	1,654,455
Right of use asset - operating leases, net	94,872	86,481
Restricted deposits	151,705	141,696
Goodwill	28,008	28,008
Intangible assets, net	2,221	2,708
Other non-current assets	5,391	5,411
Total assets	2,333,672	2,625,555
Current liabilities:
Accounts payable	101,890	89,178
Accrued expenses and other current liabilities	250,666	276,032
Asset retirement obligations	9,942	10,978
Contract obligations	14,535	22,445
Lease liabilities	42,877	34,300
Interest bearing liabilities	1,829	1,671
Income tax payable	21,750	21,024
Stanwell liabilities	28,909	0
Other current financial liabilities	2,436	1,424
Liabilities associated with assets held for sale	50,705	0
Total current liabilities	525,539	457,052
Non-current liabilities:
Asset retirement obligations	124,764	143,388
Lease liabilities	82,210	83,866
Interest bearing liabilities	692,797	684,989
Contract obligations	0	21,173
Stanwell liabilities	592,490	501,795
Other financial liabilities	18,562	18,888
Deferred income tax liabilities	9,697	23,249
Other non-current liabilities	59,651	41,409
Total liabilities	2,105,710	1,975,809
Common stock $0.01 par value; 1,000,000,000 shares authorized,167,645,373 shares issued and outstanding as of June 30, 2026 and December 31, 2025	1,677	1,677
Series A Preferred stock $0.01 par value; 100,000,000 shares authorized, 1 Share issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Additional paid-in capital	1,090,892	1,094,743
Accumulated other comprehensive losses	(120,358)	(120,444)
Accumulated losses	(744,249)	(326,230)
Total stockholders' equity	227,962	649,746
Total liabilities and stockholders' equity	$ 2,333,672	$ 2,625,555