BHP Group (LSE:BHP) reported a strong increase in earnings for fiscal 2026, with higher copper prices, improved operating performance and stronger cash generation helping lift profit and providing the mining group with capacity to continue funding its growth pipeline.
Underlying attributable profit increased to $13.2 billion from $10.2 billion a year earlier, representing a rise of around 30%. Underlying EBITDA advanced 27% to $32.9 billion.
Revenue reached $58.8 billion, up 15% year on year, supported by stronger realised prices for copper, iron ore and steelmaking coal alongside improved operational performance.
Investors responded positively to the results, with BHP’s Sydney-listed shares gaining 3.6% to $64.41 by 00:42 GMT on Tuesday.
Copper Drives Stronger Earnings
Copper was the standout contributor to BHP’s improved financial performance, benefiting from higher realised prices during the year.
Underlying EBITDA from the copper division climbed to $18.2 billion from $12.3 billion a year earlier, while revenue increased to $29 billion.
The improvement came despite copper production declining 3% to 1.95 million tonnes, highlighting the significant contribution from stronger commodity pricing.
BHP said its balance sheet and cash generation leave the group with substantial capacity to continue investing in growth opportunities across its portfolio.
Dividend Reaches Four-Year High
BHP declared a final dividend of 99 cents per share, taking the total payout for fiscal 2026 to 172 cents per share.
The full-year distribution amounts to approximately $8.7 billion and represents the miner’s highest annual shareholder payout in four years.
The increased dividend reflects the stronger earnings and cash generation delivered during the period while BHP continues allocating capital towards major development projects.
BHP Forecasts Lower Copper Production in FY27
For fiscal 2027, BHP expects copper production of between 1.65 million and 1.8 million tonnes.
The forecast implies lower output compared with fiscal 2026, with declining ore grades at the company’s Escondida operation expected to weigh on production.
BHP also expects BMA metallurgical coal production of between 18.5 million and 20.5 million tonnes during the new financial year.
Jansen Potash Project Approaches Production
BHP continues to advance its Jansen Stage 1 potash development in Canada, an important component of the group’s longer-term growth strategy and commodity diversification.
The project is now 84% complete and remains on schedule to achieve first production in mid-2027.
Progress at Jansen, combined with BHP’s strong balance sheet and cash generation, provides the miner with additional exposure to potash as it continues investing across commodities expected to benefit from longer-term global demand trends.
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