South32 Bull Expects 1H Cash Flow Will Miss Expectations -- Market Talk

Dow Jones

Feb 11

0145 GMT - While South32's 1H earnings and dividend should be in line with consensus, cash flow is likely to miss expectations, according to Macquarie. The bank estimates 1H operating cash flow of US$592 million, 7% below the Visible Alpha consensus. It says that is "largely from a combination of differences in working capital, tax, and EIA [earn-in agreement] distributions." South32's FY 2026 guidance is on track, says Macquarie. In 2H, drivers for the stock include a new CEO and chair, "positioning the company for further cost-out/performance simplification initiatives," Macquarie says. An extension at Mozal, which is due to close, could also present upside, it says. Macquarie has an outperform rating and A$4.80 target on South32. The stock is up 0.9% at A$4.63. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

February 10, 2026 20:45 ET (01:45 GMT)

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The bank estimates 1H operating cash flow of US$592 million, 7% below the Visible Alpha consensus. It says that is \"largely from a combination of differences in working capital, tax, and EIA [earn-in agreement] distributions.\" South32's FY 2026 guidance is on track, says Macquarie. In 2H, drivers for the stock include a new CEO and chair, \"positioning the company for further cost-out/performance simplification initiatives,\" Macquarie says. An extension at Mozal, which is due to close, could also present upside, it says. Macquarie has an outperform rating and A$4.80 target on South32. The stock is up 0.9% at A$4.63. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 10, 2026 20:45 ET (01:45 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>South32 Bull Expects 1H Cash Flow Will Miss Expectations -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSouth32 Bull Expects 1H Cash Flow Will Miss Expectations -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-02-11 09:45</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0145 GMT - While South32's 1H earnings and dividend should be in line with consensus, cash flow is likely to miss expectations, according to <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a>. The bank estimates 1H operating cash flow of US$592 million, 7% below the Visible Alpha consensus. It says that is \"largely from a combination of differences in working capital, tax, and EIA [earn-in agreement] distributions.\" South32's FY 2026 guidance is on track, says Macquarie. In 2H, drivers for the stock include a new CEO and chair, \"positioning the company for further cost-out/performance simplification initiatives,\" Macquarie says. An extension at Mozal, which is due to close, could also present upside, it says. Macquarie has an outperform rating and A$4.80 target on South32. The stock is up 0.9% at A$4.63. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 10, 2026 20:45 ET (01:45 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7507","symbol_name":"资源股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2610605940","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2610605940","pubTimestamp":1770774300,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0145 GMT - While South32's 1H earnings and dividend should be in line with consensus, cash flow is likely to miss expectations, according to Macquarie. The bank estimates 1H operating cash flow of US$592 million, 7% below the Visible Alpha consensus. It says that is \"largely from a combination of differences in working capital, tax, and EIA [earn-in agreement] distributions.\" South32's FY 2026 guidance is on track, says Macquarie. In 2H, drivers for the stock include a new CEO and chair, \"positioning the company for further cost-out/performance simplification initiatives,\" Macquarie says. An extension at Mozal, which is due to close, could also present upside, it says. Macquarie has an outperform rating and A$4.80 target on South32. The stock is up 0.9% at A$4.63. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7507":"资源股","S32.AU":"SOUTH32 LTD","BK7095":"多种金属与采矿"},"translate_title":"South32 Bull预计上半年现金流将低于预期——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"S32.AU":0.9},"content_text":"0145 GMT - While South32's 1H earnings and dividend should be in line with consensus, cash flow is likely to miss expectations, according to Macquarie. The bank estimates 1H operating cash flow of US$592 million, 7% below the Visible Alpha consensus. It says that is \"largely from a combination of differences in working capital, tax, and EIA [earn-in agreement] distributions.\" South32's FY 2026 guidance is on track, says Macquarie. In 2H, drivers for the stock include a new CEO and chair, \"positioning the company for further cost-out/performance simplification initiatives,\" Macquarie says. An extension at Mozal, which is due to close, could also present upside, it says. Macquarie has an outperform rating and A$4.80 target on South32. The stock is up 0.9% at A$4.63. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 10, 2026 20:45 ET (01:45 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}