Fortescue reports US$3.5B FY26 net profit

• Fortescue reported an underlying net profit after tax of US$3.5 billion for the 2026 financial year alongside record iron ore shipments of 201.3 million tonnes.
• The financial results underpin a fully franked final dividend of $0.46 per share, bringing the total dividend declared for the year to $1.08 per share.
• Management stated that ongoing operational excellence and investments in renewable energy and green grid projects aim to strengthen long-term cost competitiveness.

Fortescue (ASX:FMG) posted an underlying net profit after tax of US$3.5 billion for the 2026 financial year alongside record shipments of 201.3 million tonnes of iron ore.

The latest full-year profit figure represented a 3% increase compared to the previous financial year.

Underlying EBITDA came to US$8.6 billion, 9% higher than FY25, with an underlying EBITDA margin of 51%.

"We invested US$3.6 billion across the business and finished the year with US$5.1 billion in cash and net debt of just US$0.9 billion," said Fortescue Metals and Operations CEO Dino Otranto.

 The company delivered strong safety results with a leading safety index of 172 and a total recordable injury frequency rate of 1.3 for the 12 months to June 30.

Statutory net profit after tax reached US$2.9 billion after accounting for a US$525 million non-cash impairment charge related to Iron Bridge and a US$73 million compensation claim expense.

Following the announcement, the Fortescue share price was up at $18.12.

The company maintained a balance sheet with cash of US$1.5 billion and net debt of US$0.9 billion at June 30.

For FY27, iron ore shipments are expected to reach 197 – 207 Mt, including 11 – 14 Mt for Iron Bridge.

Prior strategic actions included completing the acquisition of Alta Copper, expanding exploration drilling in Gabon, and advancing the development of renewable energy through the Green Grid initiative.