The BHP Group Ltd (ASX: BHP) share price is in focus today after the mining giant reported half-year earnings to December 2025, highlighted by an 11% revenue increase to USD27.9 billion and a 28% lift in profit attributable to BHP shareholders to USD5.64 billion.
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What did BHP Group report?
- Revenue rose 11% to USD27,902 million
- Attributable profit increased 28% to USD5,640 million
- Underlying EBITDA up 25% to USD15,462 million; margin improved to 58%
- Underlying attributable profit up 22% to USD6,202 million
- Net operating cash flow increased 13% to USD9,372 million
- Interim dividend lifted 46% to US 73 cents per share, fully franked
What else do investors need to know?
BHP's copper division now contributes more than half of group EBITDA for the first time, reflecting robust demand and strong commodity prices. Copper production guidance for FY26 has been upgraded to 1.9–2.0 million tonnes, aided by record throughput at Escondida and solid performances in South Australia and Chile.
The company remains committed to investing in organic growth, with capital and exploration expenditure largely steady at over USD5.2 billion for the half. Management highlighted active asset portfolio initiatives, including a major silver streaming agreement at Antamina, which will unlock additional cash and improve financial flexibility. BHP also continues to progress the Jansen potash project in Canada, with first production still targeted for mid-2027.
What did BHP Group management say?
BHP Chief Executive Officer Mike Henry said:
We continue to prosecute our strategy of operational excellence, distinctive social value creation and growth in copper and potash… At a Group level, we again delivered a safe, reliable half, with resilient margins and cash flows that support disciplined investment and strong shareholder returns.
What's next for BHP Group?
BHP remains optimistic about global economic growth, forecasting around 3% for calendar 2026. The company expects supportive demand for its key commodities, notably copper and iron ore, and is investing in both expansion of Tier 1 assets and greenfield projects like Jansen (potash) and Vicuña (copper, gold, silver).
Capital expenditure guidance is unchanged at around USD11 billion per annum for FY26 and FY27, with an average of USD10 billion per year between FY28 and FY30. BHP plans to continue unlocking portfolio value while maintaining focus on cost discipline and productivity, especially in response to a persistently higher cost environment.
BHP Group share price snapshot
Over the past 12 months, BHP Group shares have risen 23%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.
