BHP’s Half-Year Earnings: No, Profits Didn’t Drop By 90%

Ievgen Postovyk/iStock via Getty Images Investment thesis Note: Dollar amounts refer to USD. Please also note BHP’s financial year ends June 30, so December 31 is the half-year period. BHP Group Limited (NYSE:BHP) reported its half-year earnings this past week and profits allegedly dropped by 90% on weak nickel prices: Seeking Alpha The negative reports may be partially why BHP’s stock is down from the recent highs and close again to technical support levels. However, we need to understand the “90% profit plunge” in the proper context: BHP Namely, profit was basically down on two non-cash charges, an impairment of…