Due to the higher interest rate environment and the group’s increased scale, Glencore has updated its framework linking expected earnings to inventory levels and funding costs. Consequently, the Marketing division’s long-term guidance range has risen from $2.3bn–$3.5bn to around $2.8bn–$4.2bn.
For 2026, Glencore now expects Marketing adjusted operating profit to exceed $5bn, up from previous expectations of around $4.9bn.
The shares were up 2.3% in early afternoon trading.
Our view
HL view to follow.
Glencore key facts
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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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