EarningsQ4 2025 Earnings Report
MX:AGLN Q4 2025 EPS Results
Actual EPS$6.45
Consensus EPS$6.45
Beat/MissMet expectations
One Year Ago EPS$9.24
MX:AGLN Q4 2025 Revenue Results
Actual Revenue$167.81B
Expected Revenue$184.46B
Beat/MissMissed by -$16.66B
YoY Revenue Growth-28.48%
Earnings Announcement Details
QuarterQ4 2025
Date02/19/2026
TimeBefore Open
Conference CallThursday, February 19, 2026
MX:AGLN Upcoming Earnings
Anglo American's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q4 2025 Earnings Call Audio
MX:AGLN Q4 2025 Earnings Call
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Q4 2025 Earnings Slide Deck
Q4 2025 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly constructive and transformational picture driven by strong operational delivery in the go‑forward copper and premium iron ore portfolio, successful portfolio restructuring steps, clear cost savings and meaningful deleveraging. Material challenges remain—most notably two workplace fatalities, a significant De Beers impairment and continued regulatory processes for major transactions—but the core simplified business performance, cash generation and merger progress outweigh these negatives in the near term.Company Guidance
Strong simplified-portfolio financial performance
Simplified (go‑forward) portfolio delivered $6.9 billion EBITDA, a 44% EBITDA margin (up 2ppt), underlying earnings of $1.6 billion and return on capital of 17%. Copper and premium iron ore contributed ~$4.0 billion and ~$2.9 billion of EBITDA respectively.
Operational delivery in copper and iron ore
Copper and iron ore met 2025 production guidance; Quellaveco exceeded design throughput and is expected to produce ~300,000 tpa copper; short‑term lower‑risk copper growth of ~125,000 tonnes expected as Collahuasi stripping and Donoso 2 ramp. Production resilience delivered despite lower grades at Collahuasi.
Material cost savings and cost discipline
Delivered $0.6 billion of incremental gross cost savings in 2025 (ahead of $0.5 billion target), totaling $1.6 billion realized to date toward the $1.8 billion cost‑out program; total cost base up only ~1% year‑on‑year despite inflation and currency headwinds.
Balance sheet improvement and cash generation
Net debt reduced by ~$2.0 billion to $8.6 billion (net debt/EBITDA 1.3x); sustaining attributable free cash flow of $1.4 billion; $2.4–$2.5 billion of proceeds realized from PGMs/Valterra sell‑downs which materially aided deleveraging.
Progress on major portfolio transactions (Anglo Teck merger)
Merger with Teck progressing with numerous approvals secured (including Investment Canada and U.S. regulatory approvals); overwhelming shareholder support; integration planning underway; expected completion ~12–18 months (current estimate Sept to following March) with $4.5 billion special dividend payable on completion.
Portfolio optimization momentum
Successful PGMs demerger (Valterra) and full sell‑down of residual stake; active sale processes restarted for steelmaking coal (SMC), Ni (definitive agreement with MMG for up to $0.5 billion) and advanced De Beers exit processes with strategic bidders and government engagement.
Head office transformation and workforce efficiency
Completed head office transformation with a 21% headcount reduction, supporting cost savings and streamlined decision‑making; embedded local accountability to improve operational outcomes.
Safety performance improvement (record low LTIFR)
Recorded the lowest ever total recordable injury frequency-rate in company history, with recordable frequency rates ~20% lower than prior year, driven by focused safety programs and increased frontline leader engagement.
MX:AGLN 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