Fortescue (ASX:FMG) announced its financial results for the first half of FY26, headlined by record iron ore shipments of 100.2 million tonnes.
The volume represents a 3% increase compared to the same period last year.
The operational results supported an underlying EBITDA of US$4.5 billion, a 23% rise over H1 FY25, while net profit after tax reached US$1.9 billion.
The company declared a fully franked interim dividend of $0.62 per share, representing a payout ratio of 65% of H1 FY26 NPAT.
The company maintained a robust position with US$4.7 billion in cash on hand and a net debt of US$1 billion as of Dec. 31, 2025.
Net cash flow from operating activities totalled US$3.2 billion, with US$1.7 billion allocated to capital expenditure.
Fortescue continued its focus on decarbonisation, deploying its first battery energy storage system and electric mobile equipment.
The company also entered a binding agreement to acquire the remaining 64% of Alta Copper and continued planning for the Belinga Iron Ore Project.
CEO Dino Otranto attributed the performance to record shipments and a focus on cost management, noting that the removal of diesel from operations is intended to improve the company's long-term cost position and margin predictability.
Safety metrics remained a priority, with the company reporting a total recordable injury frequency rate of 1.5.
Guidance for FY26 shipments and unit costs remains unchanged.