BHP delivered first-half revenue growth of 11% to $27.9bn ($25.9bn expected), with underlying cash profit (EBITDA) rising 25% to $15.5bn. Performance was driven by higher copper and iron ore prices, offsetting a small drop in volumes.
Free cash flow rose 10% to $2.9bn, supported by improved earnings despite $5.3bn of capex and exploration spend.
Net debt rose to $14.7bn, within the revised $10–20bn target range.
The group declared an interim dividend of $0.73 per share, ahead of last year and above expectations.
The shares rose 2.5% in early trading.
Our view
HL view to follow.
BHP key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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