Antofagasta (GB:70GD)
LSE:70GD
Earnings Data
Report Date
Aug 26, 2026TBA (Not Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strongly positive operational and financial picture: record EBITDA, double-digit revenue and cash-flow growth, robust margins (60%), low net costs, and a fully funded growth pipeline that is on time and on budget. Safety and sustainability metrics were highlighted as strengths. The main negatives are operational and timing risks — production was flat year-on-year, working capital and tax payments rose, meaningful cash is earmarked to fund projects (limiting immediate scope for much larger buybacks), and growth beyond the current construction cycle faces typical permitting, sequencing and labor uncertainties. On balance, the positive financial results, low-cost position, funded brownfield growth and strong safety/sustainability progress materially outweigh the noted challenges.Company Guidance
Record Financial Performance
Revenue rose 30% year-on-year to $8.6 billion; EBITDA increased 52% to a record $5.2 billion; EBITDA margin expanded to 60%; operating cash flow up ~30% to $4.3 billion. Net debt-to-EBITDA broadly flat despite peak group-level CapEx in 2025.
Strong Cost Position and Byproduct Credits
Five-year low in net cash cost: Los Pelambres net cost $0.82/lb and Centinela $0.75/lb. Management cited an overall net cash cost of ~$1.19/lb (a ~27% reduction versus prior year) and byproduct credits of roughly $1.35–$1.40/lb. Competitiveness program again delivered ~$0.08/lb benefit.
Fully Funded, On-Time Growth Pipeline Delivering 30% Production Increase
Near-term growth program is fully financed and projects are on time and on budget. Centinela second concentrator >70% complete at year-end, with mechanical completion targeted for 2027 and ramp-up through 2028–2029 (first full production year 2029). Management reiterated a clear pathway to ~30% production growth from projects already in construction.
Robust Capital Allocation and Shareholder Returns
Disciplined capital allocation preserved investment-grade profile; dividend policy maintained with total 2025 dividend representing 50% of earnings. Dividend payments totaled $760 million in 2025 (up from $557 million in 2024) and management noted over $3 billion returned to shareholders in the past five years.
Safety and Sustainability Progress
Fatality-free for over four years and 2025 recorded the lowest number of high-potential incidents. Sustainability actions included desalination plant expansion, higher seawater and recirculating water usage, and female workforce representation reaching 30%. EIA approval received at Zaldivar to extend mine life.
Innovation and Operational Optionality
Industrial-scale Cuprochlor heap-leach pad under construction for testing; trials of material movement solutions (road train, light rail) to enable using existing infrastructure and access satellite deposits. These innovations support longer-term optionality and potential cost/recovery improvements.
Market Position and Jurisdictional Advantages
Management emphasized Antofagasta's pure-play copper positioning, high-quality long-life assets in Chile, and benefits from recent Chilean reforms (permitting modernization, possible corporate tax reductions). Company highlighted favorable medium-term copper fundamentals (demand ~+2% p.a. to 2035) and constrained supply.
GB:70GD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GB:70GD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 17, 2026 | 70.50 p | 70.50 p | 0.00% |
Aug 14, 2025 | 70.50 p | 70.50 p | 0.00% |
Feb 18, 2025 | 70.50 p | 70.50 p | 0.00% |
Aug 20, 2024 | 70.50 p | 70.50 p | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Antofagasta (GB:70GD) report earnings?
Antofagasta (GB:70GD) is schdueled to report earning on Aug 26, 2026, TBA (Not Confirmed).
What is Antofagasta (GB:70GD) earnings time?
Antofagasta (GB:70GD) earnings time is at Aug 26, 2026, TBA (Not Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is the P/E ratio of Antofagasta stock?
The P/E ratio of Antofagasta is N/A.
What is GB:70GD EPS forecast?
Currently, no data Available