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Rio Tinto Plc (RIO)
NYSE:RIO
Earnings Data
Report Date
Aug 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
4Last Year’s EPS
2.96Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operational and financial story: strong production growth (8% copper-equivalent), record outputs, a 9% increase in underlying EBITDA to $25.4 billion, major progress on strategic projects (OT, Simandou, lithium), and a clear productivity program unlocking a $650 million run rate with expectations of materially higher cash delivery in 2026. Management reaffirmed disciplined capital allocation and returned $6.5 billion to shareholders. Offsetting these positives were a fatal safety incident at Simandou with an operational pause and investigation, iron ore earnings pressure and near-term headwinds (Pilbara cyclone impacts, modest 2026 volume growth of ~3%), and a rise in net debt to $14.4 billion after an acquisition. On balance, the highlights—growth, improved margins in copper and aluminum, strong cash returns and project progress—outweigh the lowlights, though the Simandou safety issue and certain commodity/operational headwinds remain material risks.Company Guidance
Production Growth and Record Output
Copper-equivalent production rose 8% year-on-year, with annual records set for both copper and bauxite. Pilbara mines rebounded after cyclones and set production records from April.
Underlying EBITDA and Earnings Improvement
Underlying EBITDA increased 9% to $25.4 billion. Underlying earnings were $10.9 billion, enabling a planned shareholder return of 60% or $6.5 billion in dividends.
Copper Outperformance and Oyu Tolgoi Ramp
Copper was a standout: copper EBITDA more than doubled to $7.4 billion. Shipments at Oyu Tolgoi (OT) were up 60% and the OT underground development is complete, targeting ~500,000 tpa of copper on average from 2028–2036. Copper prices finished materially higher (company noted copper ended the year ~44% higher year-on-year on point-in-time measures).
Aluminum and Bauxite Strength
Aluminum delivered a step-change in financial performance with EBITDA up 20% and new production records in smelting and bauxite, aided by stronger markets (aluminum prices cited ~17% higher year-on-year on point-in-time measures).
Productivity Program and Unit Cost Reductions
Company unlocked a $650 million annualized productivity run rate and expects to achieve it by end of the quarter; 2026 cash delivery expected materially above that Q1 run rate. Copper-equivalent unit costs fell ~5%, and an $800 million unit-cost improvement was noted versus the prior year.
Progress on Growth Projects (Simandou, Lithium)
First shipment of high-quality iron ore from Simandou received in December; Simandou is nearly two-thirds complete and targeted to deliver 60 Mtpa once fully ramped. Lithium in‑flight projects continue, targeting ~200,000 tpa capacity by 2028, with ~ $1+ billion capex in lithium in 2025.
Capital Discipline, Cash Generation and Balance Sheet Position
CapEx at the high end of guidance (~$11 billion in 2025) reflecting peak growth spend. Management reiterated disciplined capital allocation, targeting $5–10 billion of potential cash proceeds from asset monetization and confirming commitment to a capital return policy. Gearing remains modest at ~18%.
Market Dynamics Supporting Portfolio
Company highlighted favorable energy-transition-driven demand: copper and aluminum markets strengthened; lithium markets moved into balance earlier than expected; battery storage demand accelerating and supporting long-term commodity fundamentals.
RIO 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
RIO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $98.93 | $96.34 | -2.62% |
Jul 30, 2025 | $60.80 | $58.09 | -4.46% |
Feb 19, 2025 | $60.48 | $59.14 | -2.21% |
Jul 30, 2024 | $58.18 | $59.68 | +2.57% |
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 Rio Tinto Plc (RIO) report earnings?
Rio Tinto Plc (RIO) is schdueled to report earning on Aug 05, 2026, Before Open (Confirmed).
What is Rio Tinto Plc (RIO) earnings time?
Rio Tinto Plc (RIO) earnings time is at Aug 05, 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 RIO EPS forecast?
RIO EPS forecast for the fiscal quarter 2026 (Q2) is 4.
