CITY OF MELBOURNE (dpa-AFX) - Anglo-Australian mining giant Rio Tinto Plc (RIO, RIO.L, RTNTF, RIO.AX) reported Wednesday significantly higher first-half profit as revenues were benefited mainly by higher commodity prices. Further, the firm maintained fiscal 2026 production and sales guidance.
In Australia, the shares were trading at A$166.52, up 4.38 percent.
In the first half, profit before taxation climbed to $9.31 billion from last year's $6.74 billion. Net earnings grew 47 percent to $6.66 billion from $4.53 billion in the prior-year period.
Earnings per share increased to 406.3 cents from 276.5 cents a year ago.
Underlying earnings rose 43 percent to $6.85 billion from $4.81 billion a year ago, and underlying earnings per share climbed 42 percent to 421.4 US cents from prior year's 296.0 US cents.
Underlying EBITDA increased 28 percent to $14.83 billion from $11.55 billion a year ago. The company attributed the results to strong commodity prices combined with continued focus on operational excellence and cost discipline.
Consolidated sales revenue grew 15 percent to $31.03 billion from $26.87 billion last year.
Further, Rio Tinto declared an interim ordinary dividend of 211 US cents per share, representing a 43 percent increase from the prior-year period. The interim dividend will be paid on September 24 to shareholders on the register at the close of business on August 14.
For 2026, Rio Tinto continues to project copper production at 800 to 870 kt, while total iron ore sales guidance stands at 343 to 366 Mt.
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