BHP Group Limited (BHP) Earnings
BHP Group Limited is expected to report next earnings on August 17, 2026 (in NaN days), with a consensus EPS estimate of $2.69. BHP has beaten EPS estimates in 4 of its last 11 reported quarters (average surprise -25.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Feb 16, 2026 | $2.41 | $2.24 | -7.1% | $27.9B | +2.0% |
| Aug 18, 2025 | $2.09 | $2.12 | +1.4% | $26.0B | -0.3% |
| Feb 17, 2025 | $1.98 | $1.74 | -12.1% | $25.2B | +0.5% |
| Apr 17, 2024 | $2.61 | $0.37 | -86.0% | $27.2B | +0.3% |
| Feb 21, 2023 | $2.72 | $2.55 | -6.3% | $26.0B | +2.5% |
| Aug 16, 2022 | $4.51 | $8.46 | +87.6% | $34.6B | -2.6% |
| Jan 4, 2022 | $3.42 | $3.72 | +8.8% | $30.8B | +0.5% |
| Aug 16, 2021 | $4.24 | $2.93 | -30.9% | $33.1B | -2.3% |
| Dec 31, 2020 | $2.11 | $1.53 | -27.5% | $24.2B | -5.3% |
| Sep 22, 2020 | $1.52 | $1.22 | -19.7% | $20.8B | -2.3% |
| Dec 31, 2019 | $1.89 | $1.92 | +1.6% | $22.5B | -2.0% |
| Jun 30, 2018 | — | $0.63 | — | $22.7B | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2025 · August 29, 2025
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
**Management Statement and Operational Highlights**: - Strategy remains focused on highly attractive commodities with resilient demand and steep cost curves, owning world-class assets. - 2025 was a strong year with record iron ore and copper production, sector-leading margins, and strong cash flows. Final dividend of USD 0.60 per share, total full year dividend $5.6 billion. - Achieved gender balance in global employee workforce at 41.3%, improving business performance. - Key safety metrics improved year-on-year, with a 63% reduction in high potential injury frequency over 5 years. - Underlying EBITDA margin 53%, return on capital employed 21%. Taxes and royalties incurred $10 billion against underlying attributable profit $10.2 billion. - Refined project sequencing, aiming for average production growth 2.2% per annum over next decade. Reduced capital spend by $1 billion per year medium term. Revised net debt target range to $10 billion to $20 billion. - WAIO had record production and shipments, BMA volumes up 5%, Copper had record EBITDA and volumes, New South Wales Energy Coal transition to closure progressing.
Guidance
**Guidance**: - Expect capital and exploration spend around $11 billion in FY '26 and '27, averaging $10 billion per year medium term, $1 billion lower than previous guidance. - Revised net debt target range to $10 billion to $20 billion reflecting improved business and portfolio. - Assuming projects proceed, average production growth of 2.2% per annum over next decade. - Final dividend of USD 0.60 per share, payout ratio 60%.
Segment performance
**Segment Performance**: - **Western Australia Iron Ore (WAIO)**: Achieved record production and shipments despite severe weather, with an EBITDA margin of 63% and C1 costs of $17.29 per tonne. WAIO has been the lowest cost major iron ore producer globally for 6 years. Revenue contribution: Significant, as it's a key segment. - **BMA**: Volumes up 5% despite weather-related disruptions, with supply chain stabilization efforts progressing. - **New South Wales Energy Coal**: Transition to closure ongoing, secured mining until June 2030, and exploring pumped hydro energy storage post-mining. - **Copper**: Generated a record $12 billion of EBITDA, accounting for 45% of the group total with a margin of 59%. Escondida saw a 16% volume increase to 1.3 million tonnes, Spence had record production, and Copper South Australia showed steady performance.
Risks & headwinds
**Risks**: - Project execution risks, such as encountered higher inflation and cost escalation at Jansen, extending Stage 2 first production by 2 years. - Commodity price fluctuations impacting EBITDA. - Regulatory and policy changes affecting projects like Copper South Australia's expansion requiring stable fiscal and regulatory settings.