AU market earnings: BHP posts $7.9 billion net profit amid global volatility
BHP posts a 39% drop in net profit to $7.9 billion, yet surpasses estimates with $13.7 billion underlying profit.
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This video was created on 26 August for IG audiences by ausbiz.
BHP's strategic shifts and mixed financial outcomes
BHP reported a 39% drop in full-year net profit, decreasing to $7.9 billion, amid challenging global economic conditions. Despite this decline, the mining giant delivered an underlying profit of $13.7 billion, surpassing analyst expectations.
The company declared a final dividend of $0.74 USD per share, bringing the total annual dividend to $1.46 USD per share. BHP's revenue rose 3% to $55.7 billion USD, while net debt improved, falling 18.7% to $9.1 billion USD.
Woodside Energy reported an 11% increase in first-half profit to $1.9 billion USD. However, its core net profit declined by 14% to $1.6 billion USD, attributed to lower realised oil prices amid weak demand from China. Woodside declared an interim dividend of $0.69 USD per share.
Guzman y Gomez, the Mexican-themed fast food chain, reported a full-year loss of $13.7 million USD. However, pro-forma net profit, which adjusts for IPO-related costs, rose 94% to $5.7 million USD. The company’s global network sales grew by 26% to $959 million USD, driven by both comparable restaurant sales and network expansion. Revenue increased by 32% year-on-year to $342 million USD.
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