Fortescue achieved a 23% increase in first-half profit to $1.91 billion
Record iron ore shipments of 100.2 million metric tons drove the strong performance
Higher realized prices at $90.87 per dry metric ton contributed to increased revenue
The company strengthened ties with China amid changing market dynamics
Fortescue increased dividends to 62 Australian cents per share
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Australia's Fortescue reported a 23% rise in first-half profit on Wednesday, February 24, 2026, driven by record iron ore shipments and higher commodity prices, as the world's fourth-largest iron ore miner capitalized on strong market demand. The mining giant announced an underlying net profit after tax attributable of $1.91 billion for the six months ended December 31, 2025, falling slightly short of the Visible Alpha analyst consensus estimate of $1.98 billion but significantly improving upon the $1.55 billion profit recorded in the same period a year earlier. Fortescue's iron ore shipments reached a record 100.2 million metric tons during the first half, marking an increase of more than 3% compared to the previous year. The company achieved an average selling price of approximately $90.87 per dry metric ton, up from $85.24 per dmt a year ago, reflecting favorable market conditions. Strategically, Fortescue has been strengthening its relationship with China at a time when major iron ore producers are negotiating with state-backed China Minerals Resources Group, which has restricted shipments from larger rival BHP. The company rewarded shareholders with a final dividend of 62 Australian cents per share, an increase from the 50 Australian cents per share declared in the previous corresponding period, demonstrating confidence in the company's financial performance and future outlook.
🏷️ Themes
Mining Industry, Commodity Prices, Corporate Performance, International Trade
Australia, officially the Commonwealth of Australia, is a country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands. It has a total area of 7,688,287 km2 (2,968,464 sq mi), making it the sixth-largest country in the world and the largest in Ocea...
Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in color from dark grey, bright yellow, or deep purple to rusty red. The iron is usually found in the form of magnetite (Fe3O4, 72.4% Fe), hematite (Fe2O3, 69.9%...
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the second-most populous country after India, with a population exceeding 1.4 billion, representing 17% of the world's population. China borders fourteen countries by land across an area of 9.6 million square ki...
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Wall Street ends higher on tech rebound ahead of State of the Union address AMD stock surges 14% on Meta AI partnership deal Software stocks rebound as Anthropic partnerships ease AI disruption fears Samsung rally nears 200% as AI chip demand accelerates (South Africa Philippines Nigeria) Australia’s Fortescue half-year profit jumps on record shipments By Reuters Stock Markets Published 02/24/2026, 04:33 PM Updated 02/24/2026, 04:36 PM Australia’s Fortescue half-year profit jumps on record shipments 0 FMG 1.10% TIOc1 -0.12% Feb 25 - Australia’s Fortescue reported a 23% rise in first-half profit on Wednesday, powered by record iron ore shipments and higher realised prices for the commodity. Iron ore shipments in the first half rose more than 3% to a record 100.2 million metric tons, the world’s fourth-largest iron ore miner said. Fortescue sold its iron ore for about $90.87 per dry metric ton , up from $85.24 per dmt a year ago. The company reported an underlying net profit after tax attributable of $1.91 billion for the six months ended December 31, missing the Visible Alpha estimate of $1.98 billion and below the $1.55 billion profit it posted a year earlier. Fortescue has deepened ties with China at a time when iron ore majors are trying to negotiate with state-backed buyer China Minerals Resources Group that has restricted shipments from bigger rival BHP. The company declared a final dividend of 62 Australian cents per share, higher than the 50 Australian cents apiece announced last year.
