BHP finishes financial 2026 strong as revenue jumps 15%
(Alliance News) - BHP Group Ltd on Tuesday reported stronger annual earnings, lifted by higher prices and record output across key commodities.
The Melbourne, Australia-based diversified miner said attributable profit rose 9.0% to USD9.83 billion in the financial year ended June 30 from USD9.02 billion a year prior.
Basic earnings per share increased 8.9% to 193.6 US cents from 177.8 cents.
Underlying attributable profit jumped 30% to USD13.20 billion from USD10.16 billion with underlying basic EPS growing to 260.0 US cents from 200.2 cents.
Revenue climbed 15% to USD58.76 billion from USD51.26 billion, with profit from operations surging 23% to USD23.87 billion from USD19.46 billion.
Of this, total copper from group production revenue was USD28.56 billion, iron ore at USD23.86 billion, and coal at USD5.73 billion.
Underlying earnings before interest, tax, depreciation and amortisation jumped 27% to USD13.20 billion from USD10.16 billion.
BHP lifted its total dividend by 56% to 172 US cents per share from 110 cents previously.
Chief Executive Officer Brandon Craig said: "FY26 was a strong year for BHP. We delivered record iron ore production and shipments at WAIO, ~2 Mt of copper for a second year running and a stronger result in coal. We met or beat guidance across much of the portfolio and achieved industry-leading cost positions.
"This reliability, together with strong prices, drove a big lift in earnings with underlying Ebitda increasing to USD33 billion. As a result of this, alongside unlocking of capital from undervalued assets and investing in growth, net debt fell to below USD9 billion, while returning substantial cash to shareholders through a final dividend of 99 US cents per share, the largest in four years."
BHP expects copper production between 1.7 million tonnes to 1.8 million tonnes for financial 2027 and iron ore between 260 million to 272 million tonnes.
BHP shares ended 1.4% higher at AUD62.20 in Sydney on Monday.
By Judy Amaca, Alliance News reporter Asia-Pacific
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