RIO News: Fortescue Metals (FSUGY) FY22 Earnings Lag Estimates, Fall Y/Y - 30th Aug 2022, 5:59am

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Fortescue Metals Group FSUGY reported earnings per share of $2.01 for fiscal 2022 (ended Jun 30, 2022), which fell short of the Zacks Consensus Estimate of $3.89. The bottom line figure marked a 40% plunge from the last fiscal year’s reading. The dismal performance reflected the downtrend in iron ore prices and higher operating costs that offset the impact of record shipments. Notwithstanding the dip, the net profit after tax of $6.2 billion in fiscal 2022 marked the second highest annual p...

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