How Australia’s largest mining company reported | BHP (ASX:BHP) Reporting Season Results

Jessica Amir
February 16, 2021

The world’s biggest mining company BHP (ASX:BHP) delivered a mixed half-year financial result.

BHP reported its attributable profit fell 20% in the 6-month ending 31 December 2020 to $3.88 billion, well below expectations.

Underlying attributable profit rose 16% from the prior period to US$6 billion, also missing market expectations of US$6.3 billion.

After the results came out – it’s clear the market focused on free cash flow hitting US$5.2 billion, thanks to higher commodity prices. BHP declared a US$1.01 dividend per share, equivalent to paying out 85% of underlying earnings. That’s a record, and 55% higher than the same time last year.

If you buy BHP shares before 4 March you’ll be eligible to the dividend paid on 23 March.

BHP noted that vaccines rollouts remove downside material risk to demand and pricing. BHP also expected commodity prices to rise supported by Chinese and global demand.

BHP shares rose 1% to $46.33 after the result and are in breakout from a technical perspective.

BHP is a UBS, Morgan Stanley, and Macquarie Buy, while it’s a Hold for Citi.

Morning Bell 28 September

Jessica Amir
September 28, 2021

Morning Bell 27 September

Jessica Amir
September 27, 2021

Weekly Wrap 24 September

Jessica Amir
September 24, 2021

Morning Bell 24 September

Sophia Mavridis
September 24, 2021

Morning Bell 23 September

Paulina Peters
September 23, 2021

Morning Bell 22 September

Jessica Amir
September 22, 2021

Morning Bell 21 September

Jessica Amir
September 21, 2021

Morning Bell 20 September

Jessica Amir
September 20, 2021

Weekly Wrap 17 September

Jessica Amir
September 17, 2021

Morning Bell 17 September

Paulina Peters
September 17, 2021

Morning Bel 16 September

Jessica Amir
September 16, 2021

Morning Bell 15 September

Jessica Amir
September 15, 2021