Kumba Iron Ore reports lower H1 EBITDA: what it means for Kumba Iron Ore stock

Kumba Iron Ore reported first-half 2026 earnings before interest, taxes, depreciation and amortization of ZAR 10.91 billion, 13.53 percent below the ZAR 12.62 billion forecast listed by Marketscreener for the first half of 2026. The same calendar places the earnings release on July 28, 2026, giving investors a clear baseline for the company stock story.

First-half earnings trail forecast

The gap is material because the forecast was ZAR 1.71 billion higher than the reported result. The comparison points to pressure on profitability even as Kumba continues to operate a premium iron ore business serving steel producers.

Simply Wall St describes Kumba as a supplier of high-grade iron ore from its Sishen and Kolomela mines to steel producers in South Africa and global markets. Its cited operating split assigns ZAR 41.80 billion to Sishen, ZAR 17.00 billion to Kolomela and ZAR 7.60 billion to shipping operations, figures that show how strongly the business is concentrated in its mining and logistics chain.

Forecast points to lower 2026 base

The Marketscreener table lists 2026 forecast net sales of ZAR 61.48 billion against ZAR 70.08 billion in 2025, a projected decline of 12.27 percent. Forecast EBITDA is ZAR 22.46 billion for 2026 versus ZAR 31.90 billion in 2025, a projected decline of 29.59 percent. These are forecasts, not reported 2026 results, but they frame the market's earnings hurdle.

October 20 results date

Marketscreener lists October 20, 2026, as the publication date for Kumba's third-quarter 2026 operating results. That release should provide the next dated test of production, sales and logistics performance after the first-half EBITDA shortfall.