BHP reports 19% drop in Q1 copper output but keeps FY27 guidance
BHP Group said copper production fell 19% to 401 kt in the September 2026 quarter after grade declines, weather and maintenance disruptions, especially at Escondida. Iron ore output rose 4% to 66.5 Mt and steelmaking coal increased 1% to 4.9 Mt, while realised prices for copper and coal jumped 53% and 34% year‑on‑year. The company left its FY27 production and cost guidance unchanged and noted two fatalities that triggered safety reviews.
Why it matters
The drop in copper volume could weigh on near‑term earnings, but the company expects higher copper prices to offset the shortfall, as indicated in its guidance statement. The unchanged FY27 guidance signals no immediate revision to revenue or cost forecasts for investors.
Key facts
- 1Copper production fell 19% to 401 kt fool.com.au
- 2Iron ore production increased 4% to 66.5 Mt fool.com.au
- 3Steelmaking coal output rose 1% to 4.9 Mt fool.com.au
- 4Average realised copper price was US$7.01 per lb, up 53% YoY fool.com.au
- 5Average realised steelmaking coal price was US$242.82 per tonne, up 34% YoY fool.com.au
- 6FY27 copper production guidance unchanged at 1,650–1,800 kt fool.com.au
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.