BHP Posts Weak FY Results On Lower Average Realized Price
Portfolio Pulse from Lekha Gupta
BHP Group Ltd reported a 17% YoY decline in FY23 revenue to $53.8 billion due to lower iron ore, metallurgical coal, and copper prices. Copper production rose 9% YoY, but the average realized price was down 12%. Iron ore production was up 1% YoY, but the average realized price fell 18%. Underlying EBITDA fell 31% YoY to $28.0 billion, and underlying profit declined 37% YoY to $13.4 billion. The company declared a final dividend per share of $0.80, to be paid on September 28, 2023.
August 22, 2023 | 2:08 pm
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BHP Group's FY23 results were weak due to lower commodity prices. The company's revenue, EBITDA, and profit all declined YoY. The company declared a final dividend per share of $0.80.
BHP Group's FY23 results were negatively impacted by lower commodity prices, which led to a decline in revenue, EBITDA, and profit. This is likely to negatively impact the company's stock price in the short term.
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