Fortescue 1st Half Net Profit, Dividend Rise on Higher Shipments, Prices

By Rhiannon Hoyle

Fortescue, the world's fourth-largest iron ore producer, reported a 23% increase in first-half net profit, underpinned by record shipments and higher prices for the steelmaking commodity.

Australia-based Fortescue said it made a net profit of US$1.91 billion for six months through December, up from US$1.55 billion in the year-earlier period.

The company said its underlying earnings before interest, taxes, depreciation and amortization totaled US$4.49 billion, also 23% higher year over year.

Directors declared an interim dividend of 62 Australian cents (US$0.44) a share. That compares to 50 Australian cents a share a year ago and represents a payout of 65% of profits, Fortescue said. The company has a policy of spending between 50% and 80% of annual underlying profit on dividends.

Fortescue, which makes its money running iron-ore pits in remote northwest Australia, increased its shipments by 3% year over year. In its main hematite operations, the price it received for its ore increased by 7%, while unit costs to produce the commodity fell by 3%.

Fortescue said it has "has actively managed cost increases throughout the cycle whilst also utilizing the capacity in its supply chain to generate consistent shipments, aligning with Fortescue's integrated operating and marketing strategy focusing on maximizing value."

It added that "cost management will continue to be a focus, however inflationary pressures remain a risk."

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

February 24, 2026 16:59 ET (21:59 GMT)