Rio Tinto is projected to report H1 2026 revenue of $31.93 billion and EPS of $4.24, with its current stock price of $91.95 trading slightly above the analyst consensus target of $88.50. Investors are primarily focused on Pilbara iron ore shipment volumes, which reached a better-than-expected 89 million tonnes in the second quarter, marking a 5% year-over-year increase.
This volume growth, alongside the continued ramp-up of the Oyu Tolgoi copper mine, is expected to offset higher unit costs and provide strong cash flow for the interim dividend. However, analysts are closely monitoring management's commentary on softening Chinese steel demand and the impact of the Arcadium Lithium acquisition on the company's long-term capital allocation strategy.