Whitehaven Coal Limited (ASX:WHC) has reshaped itself into a metallurgical-coal heavyweight, and its FY26 result gave investors reason to look past a softer year for Earnings toward a firmer pricing outlook. Shares are on the radar, extending a positive reaction to full-year numbers that showed record production, lower unit costs and continued Capital returns even as lower average coal prices pulled profit down year on year. With coking-coal prices moving higher into the new financial year and thermal coal also firmer, the market appears to be weighing Whitehaven’s operational momentum against the elevated Debt it took on to acquire its Queensland mines. The result reinforced a