BHP Group reported a sharp rise in fiscal 2026 earnings, driven by higher copper prices and stronger cash generation. Underlying attributable profit rose to $13.2 billion, a 30% increase from the previous year, while underlying EBITDA increased 27% to $32.9 billion.
Copper was the main driver of the result, with underlying EBITDA from the division rising to $18.2 billion from $12.3 billion a year earlier. Revenue increased to $29 billion, supported by higher realised copper prices, although production fell 3% to 1.95 million tonnes.
The company declared a final dividend of 99 cents per share, taking its full-year payout to 172 cents, or $8.7 billion, its highest in four years. BHP expects copper production of 1.65 million to 1.8 million tonnes for fiscal 2027, with lower grades at its Escondida mine weighing on output.
The company's Jansen Stage 1 potash project in Canada is 84% complete and remains on track for first production in mid-2027.
Stronger Cash Generation and Balance-Sheet Capacity
BHP's strong cash generation and ample balance-sheet capacity will enable the company to fund growth projects and support its long-term strategy.
Copper Production Outlook
Copper production is expected to decline in fiscal 2027 due to lower grades at the Escondida mine, but the company remains committed to its growth plans.
Full-Year Results
- Underlying attributable profit: $13.2 billion (30% increase)
- Underlying EBITDA: $32.9 billion (27% increase)
- Revenue: $58.8 billion (15% increase)
- Copper revenue: $29 billion
- Copper production: 1.95 million tonnes (3% decrease)
- Final dividend: 99 cents per share