FMG 1.10% $19.76 fortescue ltd

the macquarie viewKey Points • 1H24 result well above consensus...

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    the macquarie view
    Key Points
    • 1H24 result well above consensus (in line with MRE); 80% dividend
    payout maintained.
    • Cost control has been a key feature — unit production costs US$8.3/
    boe (US$8.8/boe in pcp) despite inflationary environment.
    • Maintain Outperform. WDS commented it is on track (or potentially
    ahead) of the investor day FCF outlook for 2024E.
 
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