BHP full-year profit jumps 30% on higher copper prices; shares rise

BHP Group (ASX:BHP) reported a sharp rise in fiscal 2026 earnings on Tuesday, helped by higher copper prices and stronger cash generation, and said it had ample balance-sheet capacity to fund growth projects.

Underlying attributable profit rose to $13.2 billion from $10.2 billion a year earlier, while underlying EBITDA increased 27% to $32.9 billion, the company said.

Revenue climbed 15% to $58.8 billion, helped by higher realised copper, iron ore and steelmaking coal prices and stronger operational performance.

Sydney-listed BHP shares rose 3.6% to $64.41 by 00:42 GMT.

Copper was the main driver of the result, with underlying EBITDA from the division rising to $18.2 billion from $12.3 billion a year earlier. Revenue increased to $29 billion, supported by higher realised copper prices, although production fell 3% to 1.95 million tonnes.

BHP declared a final dividend of 99 cents per share, taking its full-year payout to 172 cents, or $8.7 billion, its highest in four years.

For fiscal 2027, BHP expects copper production of 1.65 million to 1.8 million tonnes, with lower grades at its Escondida mine weighing on output. BMA metallurgical coal production is forecast at 18.5 million to 20.5 million tonnes.

BHP said Jansen Stage 1 potash project in Canada was 84% complete and remained on track for first production in mid-2027.

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