On July 30, Rio Tinto PLC rose 3.95% in regular trading, trading at $97.32/share, with turnover of $56.24 million. The rally follows the company's H1 earnings report released on July 29, which exceeded analyst expectations and featured a substantial dividend increase.
Rio Tinto reported H1 underlying earnings of $6.85 billion, surpassing 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, supporting a 43% surge in the interim dividend — the largest increase in recent years. The strong performance was primarily driven by robust copper segment profits and rapid lithium business expansion. The company also reported equity capital expenditure of $5.04 billion, up 12% year-over-year, with $870 million in operational efficiency gains already realized.
Management noted that traditional demand, electrification, and artificial intelligence are driving earnings growth, with grid-scale battery demand for lithium exceeding expectations. The company also lowered its copper cash cost guidance to 30-50 cents per pound for the full year.
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