BHP reportedly likely to record a record loss of US$6.8 billion

August 12, 2016

BHP Billiton Ltd could be on track to report its largest corporate loss since it was created in a merger in 2001, and possibly the biggest reported loss for BHP Morgan Wealth Logosince its inception, says UBS. The broker has been reported to forecast a net loss of US$6.80 billion when the miner reports its annual earnings next week, versus a profit of US$1.91 billion a year earlier. BHP has already flagged multibillion-dollar charges linked to its Samarco venture, redundancies and its U.S. energy unit, among other things, and UBS thinks it could record further write-downs against its U.S. onshore petroleum business “given the continued deterioration on the futures curve for oil.”

Our Top Recommendations
Total returns on capital growth and dividends for 12 months ended 30 April 2019
Afterpay Touch
327.21%
Macquarie Group
28.85%
Rio Tinto Limited
24.70%
Vaneck US Wide Moat ETF
24.60%
CSL Limited
18.02%
ResMec Inc
16.80%
ASX200 Accum Index (comparison)
10.41%