Not every company reports revenues of US$55.7 billion for just one year's work - but then again, there is only one BHP (ASX: BHP). The Big Australian reported a mostly in-line result for revenues, EBITDA, and full-year dividend payout.
However, the early share price reaction suggests that investors are looking through the 39% fall in net profits and are choosing to remain focused on the company's long-term fundamentals, hopes that iron ore prices will have a better year in FY25, and its plans for more growth through project or company acquisition.
Under CEO Mike Henry, BHP has made several attempts to buy out other businesses with mixed success. Most recently, it made several bids to buy British mining giant Anglo American for $75 billion. The cut to its full-year dividend payout (from US$1.70 in FY23 to US$1.46 in FY24) may suggest it wants to keep cash on the sidelines for another big purchase.
