BHP FY2026 profit rises 9% to US$9.83B on record copper prices

BHP Group reported FY2026 net profit of US$9.83 billion, up 9%, as copper prices hit record highs during the year.

"Copper prices surged because of reduced mine supply, particularly from South America, and rising demand from the renewable energy and electric vehicle sectors," ING analysts said in a report.

Revenue for the year ended 30 June rose 15% to US$58.76 billion, according to the company's Appendix 4E filing released 18 August. Underlying earnings grew faster than statutory profit, the filing shows. Net tangible assets per share stood at US$10.67, up from US$9.91 a year earlier.

BHP declared a final dividend of US99 cents per share, fully franked, with a record date of 4 September and payment on 23 September. The payout brings the full-year dividend to US$1.72 per share, up from US$1.10 in FY2025. The September Quarterly Operational Review is scheduled for 21 October, followed by the Annual General Meeting on 22 October.

The dividend reinvestment plan closes at 5:00pm AEST on 7 September for eligible shareholders. Right-of-use assets carried a value of US$3.03 billion at 30 June, compared with US$2.65 billion a year earlier.

Copper's rally reflects a tightening global market. Inventories at key exchanges have declined steadily over recent months, and unless new mining projects come online quickly, prices may remain elevated in the near term, ING said. The metal's strategic importance in the push toward decarbonization — spanning electric vehicles, solar and wind infrastructure — underpins demand growth.

For BHP shareholders, record copper prices translate into a higher payout and a stronger balance sheet. Investors will watch the September Quarterly Operational Review on 21 October for updated production and cost guidance across the copper and iron ore divisions.

This article is for informational purposes only and does not constitute investment advice.