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Glencore PLC (GLCNF)
OTHER OTC:GLCNF
Earnings Data
Report Date
Aug 12, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.22Last Year’s EPS
0.01Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a materially positive tone driven by strong full-year adjusted EBITDA ($13.5bn), marked H2 momentum (50% half-on-half improvement), a robust metals trading and copper performance, successful operational delivery (guidance met for the second year), and a well-progressed copper growth pipeline (Quechua acquisition, MARA/Pachon permitting, Alumbrera restart). These positives were tempered by notable headwinds — early-year weakness in coal markets, constrained cobalt sales (DRC quota impacts), a significant copper volume shortfall at Collahuasi, working capital swings, a sizable UK tax payment recorded as receivable, two fatalities in 2025, and some impairments — but management presented clear remediation actions (cost program, portfolio optimization, monetizations) and maintained disciplined capital guidance and shareholder return focus. Overall, highlights outweigh the challenges, and management projects further upside in spot scenarios.Company Guidance
Strong Full-Year EBITDA
Adjusted EBITDA of $13.5 billion for FY2025, with the industrial segment contributing close to $10 billion and marketing delivering $2.9 billion adjusted EBIT (back in the middle of the new range).
Second-Half Momentum and Half-on-Half Recovery
50% increase in EBITDA half-on-half across the business; industrial EBITDA rose ~65% H2 vs H1, driving strong year-end momentum and improved spot illustrative EBITDA (> $18 billion industrial combined at spot).
Metals Outperformance (Copper & Zinc)
Copper and zinc were major contributors: copper prices rose from ~$8,600 to ~$12,400 (approx. +44% year-to-year reference on the period noted), zinc added roughly $800 million of year-on-year EBITDA (including ~ $500 million from Kazzinc).
Marketing Franchise Resilience
Adjusted marketing EBIT of $2.9 billion for the year; performance driven by metals trading (copper and zinc arbitrage/conc. tightness) and a return to stronger trading opportunities in H2.
Operational Delivery and Guidance Track Record
Achieved production guidance across key commodities for the second consecutive year; operational improvements and discipline credited for meeting guidance after a weak H1.
Copper Growth Pipeline and Strategic Advances
Material copper optionality: acquisition of Quechua adjacent to Antapaccay/Coroccohuayco (enhances optionality and plant access), MARA and Pachon RIGI processes advancing (MARA expected in H1), Alumbrera restart targeted for first production in 2028, and NewRange (Minnesota JV) resource increased by ~1 billion tonnes with ~20–21 of 23 phase-1 permits in place.
DRC Engagement and Value Recognition
Signed a non-binding MOU with U.S. government-backed Orion/CMC for DRC assets (KCC and MUMI cited combined ~ $9 billion value) — seen as a confidence boost for DRC investment; land access also secured for KCC to expand to ~300,000 tpa copper and extend mine life into the 2040s.
Balance Sheet, Cash Returns and Capital Discipline
Declared a $2.0 billion dividend; returned over $27 billion to shareholders since 2021; net debt management focused on a long-term ~$10 billion target; spot illustrative free cash flow around $7 billion (presentation spot case) and continued disciplined CapEx guidance (average ~$6.5 billion 2026–2028).
GLCNF 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
GLCNF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $6.61 | $6.85 | +3.63% |
Aug 06, 2025 | $3.96 | $3.76 | -5.15% |
Feb 19, 2025 | $4.31 | $4.00 | -7.22% |
Aug 07, 2024 | $4.82 | $4.89 | +1.49% |
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 Glencore PLC (GLCNF) report earnings?
Glencore PLC (GLCNF) is schdueled to report earning on Aug 12, 2026, Before Open (Confirmed).
What is Glencore PLC (GLCNF) earnings time?
Glencore PLC (GLCNF) earnings time is at Aug 12, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GLCNF EPS forecast?
GLCNF EPS forecast for the fiscal quarter 2026 (Q2) is 0.22.