BHP
BHP Group Limited
Price as of Jul 20, 2026
BHP earnings
BHP Group Limited earnings
Reported EPS and revenue history, upcoming estimates and available earnings-call summaries.
| 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 | — |
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.
Earnings history is derived from company filings and calendar data. Call summaries are grouped by reporting period. Latest covered event: 2026-08-17.