Skip to main content

BHP announces record dividend & earnings beat | BHP Group (ASX:BHP) Reporting Season Results

Paulina Peters
February 15, 2022

BHP Group (ASX:BHP) reported its half-year 2022 results this morning. I’ll take you through the key highlights now.

The largest company on the ASX after its recent unification reported record results despite a challenging backdrop.

BHP reported its revenue was up 27% to US$30.5 billion. The company announced underlying profit of $US9.71 billion for the past six months. That’s up an impressive 57% compared with the prior corresponding period.

And despite COVID-19 headwinds, BHP also announced a record US$1.50 a share interim dividend, which comes in about 15% ahead of both Macquarie’s and Morgan’s estimates.

Its underlying EBITDA came in at $US18.5 billion, which was also ahead of Morgan’s forecast of US$17.4 billion.

Now what drove its strong result? Well strong commodity prices. The result was driven primarily by the strength in its iron ore operations. The steel-making ingredient made up 58% of BHP’s total revenue.

Its CEO, Mike Henry stated that the business had “mitigated the impacts of COVID-19 and significant adverse weather events to turn in a solid performance, particularly from its flagship Western Australian iron ore business”.

Looking to the future, BHP highlighted that they do expect cost headwinds to supply bottlenecks to remain challenging in the 2022 calendar year and Henry predicted that the global economy would feel inflationary pressure for the remainder of the decade.

Since the announcement, there has been one broker update. Macquarie has maintain its outperform rating with a $51 price target.

And as at the time of recording BHP’s share price is up 0.43%.

Morning Bell 6 December

Sam Kanaan
December 6, 2023

Morning Bell 5 November

Grady Wulff
December 5, 2023

Morning Bell 4 December

Sam Kanaan
December 4, 2023

Weekly Wrap 1 December

Grady Wulff
December 1, 2023

Morning Bell 1 December

Sam Kannan
December 1, 2023

Morning Bell 30 November

Sophia Mavridis
November 30, 2023

Morning Bell 29 November

Grady Wulff
November 29, 2023

Morning Bell 28 November

Sam Kanaan
November 28, 2023

Morning Bell 27 November

Grady Wulff
November 27, 2023

Weekly Wrap 24 November

Grady Wulff
November 24, 2023

Morning Bell 24 November

Sam Kanaan
November 24, 2023

Morning Bell 23 November

Grady Wulff
November 23, 2023