New Hope Corporation Ltd's stock plummeted 10.94% during Tuesday's intraday trading session following the release of disappointing first-half financial results.

The Australian coal miner reported a dramatic 84% decline in net profit to A$54.3 million for the six months through January, compared to A$340.3 million a year earlier. Revenue fell by 20% to A$814.4 million, while underlying EBITDA dropped 58.5% to A$214.8 million. The company's earnings were significantly impacted by a 20% decrease in realized coal prices and a 13% increase in production costs, despite a modest 2.9% increase in coal sales.

New Hope also declared a reduced interim dividend of 10 Australian cents per share, down from 19 cents a year ago. While the company maintained its fiscal 2026 production guidance and noted recent coal price increases due to geopolitical factors, the substantial earnings miss and deteriorating financial performance prompted the sharp market reaction during the trading session.