BHP reported a solid 1H24 result this week with underlying revenue of US$27.2bn above consensus of US$26.9bn, while EBITDA of US$13.9bn and NPAT of US$6.6bn were broadly in line. The dividend of US72cps was a slight beat and came from earnings per share of US130cps. However, the timing of a write-down of their nickel assets and the recent weakness in iron ore has dragged Australia’s largest listed stock down -13.5% from its Christmas period high.
- No change, we may increase our exposure to BHP below $40 – MM holds BHP in our Active Growth and Active Income Portfolios.
MM is long and bullish toward BHP
Add To Hit List
