South32 Ltd

S32: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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South32 Earnings: Stronger Commodity Prices Drive Improvement

Jon Mills

Feb 12, 2026

South32's first-half fiscal 2026 adjusted NPAT rose 16% on a year ago, to USD 440 million or USD 9.7 cents per share, with higher base and precious metals prices the main driver. The USD 3.9 cps interim fully franked dividend—in line with its target minimum 40% payout ratio—is also up 15%.

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South32 Ltd

South32 Earnings: Stronger Commodity Prices Drive Improvement

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