New Hope Corporation chief executive Rob Bishop said the escalating conflict, which has spread across the Middle East and caused death and displacement, was "deeply distressing."
It had also hardened concerns around global energy security, putting upward pressure on coal prices.
Mr Bishop indicated New Hope's contracts were tied to the spot price of coal, which means it has seen that benefit since the war began on February 28.
New Hope made a first-half bottom-line net profit of $54.3 million, down 84 per cent from the $340.3 million in the previous corresponding period.
Its underlying earnings before interest, tax, depreciation and amortisation fell 58.5 per cent to $214.8 million, for the half year ended January 31.
The result followed a fall in the coal price in the half, despite production being in line with expectations.
Newcastle coal was trading for $US135 a ton on Tuesday, up from just under $100 at the start of 2006, but it's still under the peak of around $US145 seen in August 2024.
New Hope had long-term customers who continued to take the company's coal pursuant to long-term contracts, with only a small amount sold on the open market, Mr Bishop said.
"I think it's fair to say that there was a lot of learnings from the Ukraine crisis with regards to security of energy supply," he told analysts during an earnings call.
"But certainly, as we've seen, coal prices have increased and we've seen the direct benefit of that given all of our coal is contracted to the industry.
"So that is starting to flow through our results for the second half of the year for this group."
Mr Bishop said there were a number of reasons why coal prices hadn't spiked as much as gas had on the back of the latest Middle East conflict.
"I think things could change very quickly if there was a major impact to gas supplies or the like," he added.
New Hope was the second-worst performer in the ASX200 companies index on Tuesday afternoon, with its shares changing hands at $4.955, down 6.5 per cent from Monday.
New Hope will pay shareholders an interim dividend of 10 cents a share, down from 19 cents a year ago.
Headquartered in Brisbane, New Hope's assets include the New Acland coalmine in Queensland, the Bengalla coalmine in NSW and the Brisbane Coal Terminal at the Port of Brisbane.
In the first six months of fiscal 2026, New Hope mined 5.5 million tonnes of coal, 0.4 per cent more than a year ago, amid a ramp-up of operations at New Acland in southeast Queensland.
"In a lower coal price environment, our assets remain resilient and continue to generate solid margins," Mr Bishop said.
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