Mineral Resources Achieves Strong H1 Turnaround With Record Profitability

Mineral Resources Ltd (MIN.AX, MALRY) has delivered a significant financial turnaround in the H1 of 2026, swinging from a substantial loss to robust profitability. The company’s H1 performance marks a watershed moment for the mining services operator, reflecting stronger operational execution and improved market conditions.

From Loss To Profit - A Major H1 Milestone

The company reported profit attributable to owners of A$495 million for the H1 period, a dramatic reversal from the A$809 million loss recorded in the corresponding half-year of 2025. This swing represents a turnaround of more than A$1.3 billion in underlying performance. On a per-share basis, earnings reached 250.1 cents, compared to a loss of 410.4 cents in the prior year—underlining the extent of the improvement across the shareholder base.

Contributing to these results was a A$134 million post-tax gain arising from the receipt of contingent consideration on a private haul road transaction, which provided a one-off boost to profitability. Stripping out such non-recurring items, the company’s core operational performance also showed meaningful advancement, demonstrating genuine improvement in the business fundamentals.

Revenue And EBITDA Growth Driving H1 Performance

The underlying strength in H1 came through in the company’s underlying EBITDA, which surged to A$1.167 billion, representing an impressive 286 percent increase from A$302 million in the prior corresponding period. This explosive EBITDA growth was supported by a 33 percent climb in revenues from ordinary activities, which reached A$3.052 billion compared to A$2.29 billion in the same period last year.

The combination of higher volumes and improved operational efficiency has translated into significantly stronger cash generation and profitability metrics, positioning the company well for sustained performance.

Mining Services Poised For Strong Growth Ahead

Looking forward to the full fiscal year of 2026, the outlook remains constructive. The Mining Services division is forecast to deliver nearly A$1 billion in annualized EBITDA alongside production volumes of 305-325 million tonnes, reflecting 12.5 percent growth compared to prior levels. This expansion is being bolstered by the solid operational performance at Onslow Iron, the company’s flagship iron ore asset.

Management has underscored that the long-term trajectory for the Mining Services division remains fundamentally strong, supported by robust demand for iron ore and the company’s competitive operational position. In Australian trading, the stock closed Friday’s session at A$51.25, down 5.25 percent on the day.