BHP Group (ASX: BHP) Production Numbers
Key PointsCopper shipments coming in at 410.1kt, below consensus of 430.4kt. Met coal production fell 38% due to increased rainfall. Guidance unchanged despite a warning about a labour shortage. Short term macro-economic uncertainty will affect supply chains, energy costs, etc.
BHP Group (BHP) released its first-quarter production numbers this morning, with copper shipments coming in at 410.1kt, below the consensus of 430.4kt, but up 9% from the previous corresponding quarter. BHP’s CEO has stated, “We have started the financial year strongly”. Copper, iron ore and nickel production are all up at this time last year, with the only exception being met coal, which fell 38% due to the extreme wet weather conditions that have been lashing the nation. Cost and revenue guidance has been reaffirmed for FY23, and the company remains on track despite a warning about a labour shortage. BHP has also confirmed that the first potash production from the Jansen project is expected to begin in 2026, with construction on schedule.Founded in 1998, Marcus Today Stock Market Newsletter is a business that has built a community of like-minded investors who want to survive and thrive in the stock market. We achieve that through a combination of daily stock market education, ideas and activities.