Glencore (GLNCY) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Aug 12, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.22

Last Year’s EPS

0.01

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 1 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 18, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a predominantly positive financial and operational story: a strong FY2025 adjusted EBITDA ($13.5bn), robust metals (particularly copper and zinc) performance, marketing strength, disciplined operational delivery with two consecutive years of meeting production guidance, important portfolio and permitting progress (Quechua, KCC land, MARA/Alumbrera, NewRange), and healthy capital returns and balance sheet metrics (dividend declared $2bn, ongoing buyback/distribution framework, and $27bn returned since 2021). Offsetting these positives were notable challenges: coal and energy segment weakness (negative ~$2.4bn variance), copper volume shortfalls driven by Collahuasi, temporary cobalt sales constraints, a significant one-off tax cash payment (~$1bn), impairments and care-and-maintenance costs, and working capital volatility tied to price moves. Management reiterated disciplined capital allocation, maintained CapEx guidance, and emphasized safety and execution. On balance, the highlights — both in magnitude (EBITDA, cash generation potential, project optionality) and strategic progress — outweigh the lowlights, which are largely either cyclical (commodity prices/volumes) or near-term/tactical (tax payment, impairments, working capital volatility).

Company Guidance

Guidance highlights: management kept 2026 operational guidance unchanged after meeting production targets for a second consecutive year, reiterated a pro‑forma net debt target of ~$10bn and declared a $2bn shareholder distribution (part of $27bn returned since 2021); CapEx net was $6.9bn in 2025 and CMD guidance remains ~ $6.5bn p.a. on average for 2026–28 (with EVR averaging ~ $1.3bn p.a. over 2026–28 and Alumbrera restart ~$200–300m); spot‑illustrative outcomes shown included group EBITDA ~$18.1bn and free cash flow ~$7bn, industrial EBITDA ~$14.6bn (2025 industrial ~$9.9bn; group adjusted EBITDA $13.5bn), marketing EBIT ~$2.9bn, and a copper unit cash cost profile around $1.85/lb in 2026 (asset level ~$1.56/lb; 2024 ~$1.74/lb, 2025 ~ $1.99/lb) falling to ~$1.18–$1.08/lb by 2028–29 as copper production scales to ~1.0Mtpa by 2028 and to ~1.6Mtpa (with >2Mtpa optionality by 2035); key macro assumptions noted included copper avg moving from ~$8,600 to ~$12,400 (≈+44%), zinc ~$3,000→$3,300, gold ~$4,200→$4,900, Newcastle thermal coal >$120/t and spot steelmaking coal spikes to ~$250/t (forwards ~ $220s).

Strong Full-Year EBITDA

Reported $13.5 billion adjusted EBITDA for FY2025; industrial adjusted EBITDA approximately $9.9–$10.0 billion and marketing adjusted EBIT $2.9 billion. Second half showed strong momentum vs H1 with half-on-half EBITDA up ~50%.

Robust Metals Performance (Copper & Zinc)

Copper and zinc were key drivers: copper had a very strong year (copper spot rose from ~$8,600 at the start of the year to ~$12,400 by year-end, ~44% spot increase year-to-date) and contributed materially to metals variance (~$1 billion contribution noted). Zinc contributed ~$0.8 billion to the metals uplift (zinc price noted rising from ~$3,000 to ~$3,300, ~10% increase).

Marketing Franchise Resilience

Marketing delivered $2.9 billion adjusted marketing EBIT, inside the new guidance range and materially higher like-for-like versus prior Viterra-adjusted reporting; trading strength driven by metal arbitrage and tight concentrate markets particularly in H2.

Operational Delivery and Reliability

Delivered production guidance across key commodities for the second consecutive year; management highlighted significantly improved operational execution and discipline with production momentum into 2026.

Portfolio Progress — Peru & DRC Unlocks

Acquired adjacent Quechua package near Antapaccay (adds significant optionality and extension potential); secured land package for KCC in the DRC enabling expansion to ~300,000 tpa copper and life extended into the 2040s; signed a non-binding MOU with U.S.-backed Orion/CMC to potentially realize value (~$9 billion EV cited for KCC + MUMI combined).

Argentina & North America Project Advancements

Progress on MARA and Pachon RIGI approvals (MARA expected in H1); Alumbrera restart work underway with first production targeted in 2028; NewRange (with Teck/AngloTeck) resource expanded by ~1 billion tonnes and 20–21 of 23 permits for phase 1 secured — project described as lower capital intensity and quicker to market versus peers.

Balance Sheet, Cash Returns and Liquidity

Declared $2.0 billion dividend; returned over $27 billion to shareholders since 2021. Net funding/debt levels moved back toward the ~$10 billion target; spot illustrative free cash flow generation and EBITDA showed strong upside (spot illustrative EBITDA cited above $18 billion and spot illustrative free cash flow around $7 billion).

Monetizations and Portfolio Simplification

Partial sale of Century Aluminum stake to recycle capital into higher IRR (targeting ~20%+ IRRs), sale of Pasar smelter and an underutilized Colombian port, and a disciplined approach to non-core capital allocation and potential monetization of Bunge stake as a surplus capital warehouse (~$4 billion mark-to-market value cited).

CapEx Discipline & Guidance Maintained

FY2025 net cash CapEx ~$6.9 billion with EVR and Kazzinc items noted; reiterated FY2026–2028 CapEx guidance (average ~ $6.5 billion p.a.) consistent with prior CMD and with clear project phasing for copper growth projects.

Safety & Long-Term Commitment

Company emphasized safety as top priority and noted trend improvement over time; management reiterated focus on operational excellence, organic growth, and shareholder value creation.

Glencore (GLNCY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GLNCY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 12, 2026	2026 (Q2)	0.22 / -	0.01	―	―	―
Feb 18, 2026	2025 (Q4)	0.17 / 0.15	0.18	-16.67% (-0.03)
Aug 06, 2025	2025 (Q2)	0.07 / 0.01	0.12	-91.67% (-0.11)
Feb 19, 2025	2024 (Q4)	0.18 / 0.18	-0.024	850.00% (+0.20)
Aug 07, 2024	2024 (Q2)	0.15 / 0.12	0.341	-64.81% (-0.22)
Feb 21, 2024	2023 (Q4)	0.24 / -0.02	0.577	-104.16% (-0.60)
Aug 08, 2023	2023 (Q2)	0.40 / 0.34	0.87	-60.80% (-0.53)
Feb 15, 2023	2022 (Q4)	0.55 / 0.58	0.426	35.45% (+0.15)
Aug 04, 2022	2022 (Q2)	0.73 / 0.87	0.095	815.79% (+0.78)	―	―
Feb 15, 2022	2021 (Q4)	0.46 / 0.43	0.123	246.34% (+0.30)	―	―

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

GLNCY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 18, 2026	$13.18	$13.71	+4.02%
Aug 06, 2025	$7.88	$7.46	-5.40%
Feb 19, 2025	$8.54	$8.01	-6.30%
Aug 07, 2024	$9.59	$9.73	+1.51%

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 (GLNCY) report earnings?

Glencore Plc (GLNCY) is schdueled to report earning on Aug 12, 2026, Before Open (Confirmed).

What is Glencore Plc (GLNCY) earnings time?

Glencore Plc (GLNCY) earnings time is at Aug 12, 2026, Before Open (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 GLNCY EPS forecast?

GLNCY EPS forecast for the fiscal quarter 2026 (Q2) is 0.22.