Australian miner South32 beats earnings estimates and raises interim dividend despite trimming Brazil output targets
South32 beat estimates with a $435 million half-year profit as commodity prices rose. The miner raised its dividend but cut Brazil aluminium output targets.
Insights:
South32 Limited reported higher underlying earnings for the half-year ended December 31, surpassing the Visible Alpha consensus and declaring an interim dividend for its shareholders. The improved financial performance was driven by a combination of higher commodity prices, lower controllable costs, and the restart of the South32 manganese division in Australia 
AU. Despite the earnings beat, the company simultaneously announced a reduction in its annual production guidance for the South32 Brazil aluminium operations in Brazil 
BR, which is expected to impact its operational outlook for the coming years.
AU. Despite the earnings beat, the company simultaneously announced a reduction in its annual production guidance for the South32 Brazil aluminium operations in Brazil BR, which is expected to impact its operational outlook for the coming years.
