Movement Alert|Rio Tinto PLC Rises 3.19% in Regular Trading, H1 Earnings Beat Expectations with Interim Dividend Surging 43%

Market Focus07-30

On July 29, Rio Tinto PLC rose 3.19% in regular trading, trading at $94.55/share, with turnover of $264 million. The rally was driven by the company's stronger-than-expected first-half results and a significant dividend increase.

Rio Tinto PLC reported H1 underlying earnings of $6.85 billion, exceeding the analyst consensus of $6.78 billion. Adjusted earnings per share came in at $4.21, representing a 42.23% year-over-year increase. Free cash flow reached $3.8 billion, enabling the company to boost its interim dividend by 43% — the largest increase in recent years. Equity capital expenditure totaled $5.04 billion, up 12% year-over-year, while the company realized $870 million in productivity gains. Revenue of $31.03 billion fell slightly short of the $32.03 billion estimate.

Management highlighted that traditional demand, electrification, and artificial intelligence are collectively driving earnings growth. The company also noted grid-scale battery demand for lithium is exceeding expectations, reinforcing its plan to triple lithium output to 200,000 tonnes by 2028.

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