Woke or not, we still shipped record amounts of ore but couldn't make as much bank as usual.
You can only blame some of that on R&D and DEI. ("Woke")
Costs are definitely up but only a minor fraction of the hit our revenues have taken, even as we've sold record product.
So yeah, "woke" has possibly had some sort of an impact but to blame this result on it is missing the point. Even without the wokeism, the result still would have been s---house because we're off $2b on revenue and it ain't cause we're selling nothing. We're shifting record volumes for us. IO is in the doldrums at the moment.
This result highlights a need to be diversified. If we keep relying on digging the one commodity out of the ground, we will continue to have results like this half's. But we're investing in new revenue streams. Investing an uncomfortable amount for some for sure. If they get it right though, it should cushion us from the boom/bust of iron ore
FMG Price at posting:
$17.93 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)