EarningsQ2 2026 Earnings Report
RTNTF Q2 2026 EPS Results
Actual EPS$4.21
Consensus EPS$4.12
Beat/MissBeat by +$0.09
One Year Ago EPS$2.96
RTNTF Q2 2026 Revenue Results
Actual Revenue$31.00B
Expected Revenue$31.17B
Beat/MissMissed by -$167.37M
YoY Revenue Growth+4.26%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
RTNTF Upcoming Earnings
Rio Tinto Limited's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
RTNTF Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong, broad-based operational and financial momentum — notably robust EBITDA growth (+28%), a 75% lift in free cash flow, significant productivity gains already banked ($870m) and an interim dividend uplift (+43%). Major projects (Simandou, OT) are progressing and management is targeting material run-rate cost benefits ($1.8bn) and longer-term copper and lithium growth targets. Headwinds and risks include safety incidents (two fatalities), a furnace breach shifting sales into 2027, asset-level performance variability (IOC, Kennecott), external cost and FX pressures (~$1.5bn impact) and a Mongolia tax arbitration (~$900m exposure). Overall, the positive operational and financial developments and clear execution on productivity and project milestones outweigh the lowlights and near-term disruptions.Company Guidance
Strong Financial Performance - EBITDA and Free Cash Flow
Underlying EBITDA increased 28% to $14.8 billion; free cash flow rose 75%, driving improved liquidity and flexibility.
Higher Interim Dividend
Interim dividend increased 43% to $3.4 billion (50% payout at the interims), reflecting stronger earnings and cash generation.
Material Productivity Gains and Scaling Targets
Banked $870 million of productivity benefits by end-June and targeting a year-end run rate of $1.8 billion (almost triple the run rate seven months earlier); management targeting $1.2 billion (approx.) incremental run-rate delivery for the financial year.
Commodity and Production Momentum — Copper, Aluminum, Lithium
Copper equivalent production grew 3%; copper product-group EBITDA rose 84% (standout performer), aluminum EBITDA rose 31%; nearly 60% of first-half EBITDA came from copper, aluminum and lithium.
Major Project Progress — Simandou and OT
Simandou construction (mine and port) is more than 3/4 complete and tracking to plan; Oyu Tolgoi (OT) continues to ramp up and is achieving record production, supporting near-term copper growth (OT heading toward ~500,000 tpa).
Growth Targets and Pipeline
Company reaffirmed path to 1 million tonnes of copper by 2030; lithium capacity targeting 200,000 tonnes by 2028; Resolution, La Granja, Winu and other growth options progressing.
Capex Guidance and Capital Allocation
CapEx guidance maintained at up to $11 billion for 2026–2027 then reducing to ~$10 billion (real '25 terms) from 2028; sustaining capital ~ $4 billion p.a.; growth capex focused on copper and completing Simandou.
Cash Release and Balance Sheet Strength
Progressing to release up to $5 billion of cash from the asset base in 2026 with a broader pipeline > $10 billion; net debt reduced during the period despite funding ~$5 billion of capex and paying a $4.2 billion final dividend; Single A credit rating maintained.
Operational Examples of Productivity
Site-level improvements cited: OT underground development changes generated ~ $80 million; Pilbara system resilience changes yielded ~ $55 million; Atlantic aluminum contractor and Kaizen work delivered ~ $40 million in annual benefits.
RTNTF 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