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BHP Group Ltd ADR BHP Stock Quote

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Morningstar‘s Stock Analysis BHP

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Economic Moat

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BHP Delivers Record Fiscal 2022 Result; Fair Value Estimate of AUD 37 per Share Retained

Jon Mills, CFA Equity Analyst

Analyst Note

| Jon Mills, CFA |

No-moat BHP’s fiscal 2022 result was very strong, driven by higher commodity prices, partially offset by increased costs and lower volumes. Adjusted net profit after tax was USD 23.8 billion, or USD 4.70 per share, up from USD 17.1 billion in 2021. This included USD 2.5 billion of aftertax operating profits relating to discontinued petroleum operations. Adjusted EBITDA, excluding petroleum, rose 16% to USD 40.6 billion, 7% above our estimates, driven by higher prices and favourable foreign exchange rates, partially offset by higher costs and lower volumes. Higher average realised prices for metallurgical coal, thermal coal, copper and nickel offset lower average realised prices for iron ore.

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Key Statistics BHP

Company Profile BHP

Business Description

BHP is a global diversified miner mainly supplying iron ore, copper, and metallurgical coal. The merger of BHP Limited and Billiton PLC created the present-day BHP Group. The dual listed structure from the 2001 BHP and Billiton merger was collapsed in 2022. Major assets include Pilbara iron ore, Queensland coking coal, and Escondida copper. Onshore U.S. oil and gas assets were sold in 2018 and the remaining Petroleum assets were spun off and merged with Woodside in 2022, with BHP vesting the Woodside shares it received to BHP shareholders. BHP is growing its nickel business to supply more battery grade nickel and is also entering the potash market through the development of its Jansen mine in Canada.

Contact
171 Collins Street, Level 18
Melbourne, VIC, 3000, Australia
T +61 396093333
Industry Other Industrial Metals & Mining
Most Recent Earnings
Fiscal Year End Jun 30, 2022
Stock Type
Employees 79,471

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