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2026-02-18 16:26:40
[Glencore's Full-Year Profit Drops 6% Despite Record Copper Prices] ⑴ Glencore announced its full-year results on Tuesday, with core revenue of $13.5 billion, a 6% decrease from the previous year. Despite record copper prices, the decline failed to offset the drop in revenue from its massive coal business. ⑵ The weakness in the coal business was the main factor dragging down overall profits. The decline in coal prices eroded some of the revenue, highlighting the structural challenges faced by the commodities giant during the energy transition. ⑶ Despite the profit decline, Glencore announced it will return $2 billion to shareholders, including an additional $800 million in dividends. This move demonstrates the company's confidence in its cash flow and balance sheet. ⑷ In its trading business, Glencore's oil trading volume will reach 4.2 million barrels per day in 2025, a significant increase from 3.7 million barrels per day in 2024, indicating continued expansion of its energy trading business and providing support for overall performance.
