FY26 Half Year Results Announcement
| Stock | Fortescue Ltd (FMG.ASX) |
|---|---|
| Release Time | 25 Feb 2026, 8:18 a.m. |
| Price Sensitive | Yes |
Fortescue Ltd reports strong FY26 half-year results
- Record iron ore shipments of 100.2Mt, 3% higher than H1 FY25
- Underlying EBITDA of US$4.5B, 23% higher than H1 FY25
- Net profit after tax increased 23% to US$1.9B
Fortescue Ltd has reported strong financial results for the first half of the 2026 financial year, with record iron ore shipments, higher underlying EBITDA, and a 23% increase in net profit after tax. The company delivered iron ore shipments of 100.2Mt, 3% higher than the same period in FY25, contributing to revenue of US$8.4 billion, a 10% increase. Underlying EBITDA rose 23% to US$4.5 billion, with an EBITDA margin of 53%. Net profit after tax increased 23% to US$1.9 billion, and earnings per share rose to US$0.62 (A$0.95). Fortescue's strong financial performance has enabled the Board to declare a fully franked interim dividend of A$0.62 per share, 24% higher than the FY25 interim dividend and representing a 65% payout of first half NPAT. The company's balance sheet remains robust, with a cash balance of US$4.7 billion and net debt of US$1.0 billion at 31 December 2025. Fortescue continues to make progress on its decarbonisation efforts, including the delivery of the first large-scale battery energy storage system, the deployment of electric mobile equipment, and new technology partnerships. The company also advanced its global growth portfolio, including the proposed acquisition of the remaining stake in Alta Copper and the ongoing development of the Belinga Iron Ore Project in Gabon.
Fortescue provided the following guidance for FY26: - Iron ore shipments of 195 - 205Mt, including 10 - 12Mt for Iron Bridge - Hematite C1 unit cost of US$17.50 - US$18.50/wmt - Metals capital expenditure of US$3.3 - US$4.0 billion - Energy capital expenditure of approximately US$300 million and net operating expenditure of approximately US$400 million
Fortescue continues to build a pipeline of projects across green metals, energy, and technology to deliver low-cost solutions for the global energy transition. The company remains focused on disciplined growth and value creation through its diversified portfolio of metals, critical minerals, energy, and technology projects.