Fortescue posts record FY2026 shipments, boosts profit amid green transition costs
Fortescue posted record FY2026 Pilbara iron-ore shipments of 201.3 million tonnes and underlying profit of US$3.5 billion, up 3%, as revenue rose to US$17.0 billion. Results faced scrutiny from weaker iron-ore prices, rising costs and the large capital required for its green-energy transition. The company produced first hot metal at its Green Metal project on 16 August and invested US$368 million in decarbonisation during the year.