August 17, 2026 · Business

FTSE 100 Mining and Banking Giants Lead Mid-Year Corporate Earnings Resilience

This explainer summarises half‑year reporting from a selected group of large London‑listed banks and miners and places the numbers in accounting and issuer‑statement context. It uses only the named issuer primary sources cited at the end and reports the figures and management statements exactly as the companies presented them for their half‑year reporting periods.

Readers searching for FTSE 100 earnings coverage will find issuer‑by‑issuer reported numbers, the accounting basis or currency used in those releases, and short explanatory notes about commonly used measures. This article does not convert currencies, does not aggregate or rank companies, and does not present external commentary or forecasts. It is a source‑limited summary and explainer of the listed half‑year results.

FTSE 100 earnings: mid‑year snapshot

This article focuses on FTSE 100 earnings reporting from a subset of large banking and mining issuers that published half‑year results covering the six months to 30 June 2026 or the first half of 2026, as set out in their own releases. It reports the exact numbers and statements these issuers disclosed in their primary communications: HSBC Holdings plc (Interim Results 2026, 4 August 2026), Barclays PLC (Interim Results Announcement, 28 July 2026), Lloyds Banking Group plc (Investors hub; half‑year results and strategy update, 30 July 2026), Rio Tinto plc (results release, 29 July 2026) and Glencore plc (2026 Half‑Year Report, 5 August 2026). Where issuers describe measures as “non‑IFRS”, “adjusted” or “alternative performance measures” the article preserves that distinction.

How to use this article and its limits

This is a neutral, dated, issuer‑source summary and explainer of selected FTSE 100 earnings materials. It is not a research report, price commentary, investment recommendation, regulatory interpretation or tax, legal or accounting advice. All monetary figures, percentage movements and accounting labels are reported only as presented in the cited issuer releases and on the issuer investor pages. The article does not introduce other statistics, macro variables, commodity prices, index levels, analyst estimates, or third‑party rankings.

Why FTSE 100 earnings results cannot automatically be compared company‑to‑company

Half‑year results may appear side‑by‑side in a press‑round summary, but direct comparison across companies requires care. Differences that inhibit automatic comparability include:

Reporting period definitions and cut‑offs: some issuers explicitly state figures for the six months ended 30 June 2026; the meaning of “H1 2026” or “interim” is the issuer’s reported period.
Currencies used in primary reporting: the issuers in this article report in USD or GBP. Numerical comparisons across currencies are not performed here.
Accounting basis and presentation: some figures are statutory, some are adjusted or presented on a constant‑currency basis; issuers label non‑IFRS or alternative performance measures and provide reconciliations in their own documents.
Business model and scale: banks and miners have different revenue and cost structures, balance‑sheet layouts and regulatory capital frameworks; that affects which measures matter to readers.
Scope and consolidation: the composition of what is included in “revenue”, “income”, “EBITDA” or “adjusted” measures is defined by the issuer and varies.
Use of one‑off or “notable” items: issuers sometimes present reported and adjusted measures that differ because of items they identify as notable, exceptional or excluded in non‑IFRS measures.

These factors are illustrated in the issuer summaries below.

HSBC Holdings plc — H1 2026 (USD) — issuer report

Key reported numbers (HSBC)

Source and date: HSBC Holdings plc, “HSBC Holdings plc Interim Results 2026”, 4 August 2026. The reporting period is the first half of 2026 (H1 2026). Primary currency used in the release: US dollars (USD).
Reported profit before tax: $19.5bn for H1 2026, stated as up $3.7bn or 23% compared with H1 2025.
Reported profit after tax: $15.3bn for H1 2026, stated as up $2.9bn or 23% year‑on‑year.
Reported revenue: $37.7bn for H1 2026, stated as up $3.6bn or 11% year‑on‑year.
Constant‑currency revenue excluding notable items (issuer‑presented adjusted measure): $38.2bn for H1 2026, stated as up $2.0bn. The release explicitly distinguishes the reported and adjusted/constant‑currency measures and the article does not treat them as interchangeable.
Banking net interest income (NII): $22.9bn for H1 2026, stated as up $1.6bn year‑on‑year.
Expected credit losses (ECL): $2.4bn for H1 2026, stated as up $0.4bn year‑on‑year.
Operating expenses: $17.4bn for H1 2026, stated as up $0.4bn or 2% year‑on‑year.

Issuer description of drivers and management statements (HSBC)

HSBC stated that the movement in profit before tax primarily reflected “a net favourable year‑on‑year impact of $2.2bn from notable items, growth in banking net interest income, and higher fee and other income, partly offset by higher expected credit losses and other credit impairment charges and a planned increase in operating expenses.” That language is taken verbatim from the issuer release and reported here as the company’s description of drivers.
HSBC also included targets and expectations for future periods in its release. Those are management targets and expectations as presented by the company; they are labelled in the issuer document as forward‑looking statements and are reported here as such, not as achieved outcomes.

Barclays PLC — H1 2026 (GBP) — issuer report

Key reported numbers (Barclays)

Source and date: Barclays PLC, “Interim Results Announcement”, 28 July 2026 (supporting official results hub). The reporting period is the six months ended 30 June 2026 (H1 2026). Primary currency used in the release: pounds sterling (GBP).
Group profit before tax: £6.1bn in H1 2026 compared with £5.2bn in H1 2025 (issuer‑reported comparison).
Group income: £16.5bn for H1 2026, stated as up 11% year‑on‑year.
Group total operating expenses: £9.1bn for H1 2026, stated as up 6% year‑on‑year.
Credit impairment charges: £1.4bn for H1 2026 compared with £1.1bn in H1 2025 (issuer‑reported).
Reported capital and returns metrics at period end: CET1 ratio of 14.3% at 30 June 2026; H1 Group return on equity of 12.9% and return on tangible equity (RoTE) of 14.8%.

Issuer cautions and non‑IFRS measures (Barclays)

Barclays states that RoTE and other indicators used in its release are non‑IFRS performance measures; the issuer provides reconciliation material and explicitly says they are not substitutes for IFRS measures. The presentation here preserves that distinction: the RoTE and related items are reported as issuer‑labelled non‑IFRS measures and not as IFRS accounting measures.

Lloyds Banking Group plc — H1 2026 (GBP) — issuer report

Key reported numbers (Lloyds)

Source and date: Lloyds Banking Group plc, Investors hub and financial calendar page; the company states it published 2026 half‑year results and a strategy update on 30 July 2026. Primary currency used in the reporting materials: pounds sterling (GBP).
Statutory profit after tax: £3.1bn for H1 2026, stated as up 23% year‑on‑year.
Net income: £9.7bn for H1 2026, stated as up 9% year‑on‑year.
Operating costs: £4.9bn for H1 2026, described as flat year‑on‑year.
Net interest income (NII): £7.3bn for H1 2026.
Net interest margin (NIM): 3.19% for the reported period.
Return on tangible equity (RoTE): 17.1% for the period reported.
Loan and deposit growth year‑to‑date: loans up £10.4bn and deposits up £4.4bn; the group reports loan/deposit growth year‑to‑date of 2% and 1% respectively.

Management statements and board decisions (Lloyds)

Lloyds’ investor materials report the company’s stated interim dividend recommendation, an intended buyback and management guidance; in the issuer materials these are presented as the board’s or management’s statements and plans. They are reported here as such and not as guarantees or recommendations.

Rio Tinto plc — H1 2026 (USD) — issuer report

Key reported numbers (Rio Tinto)

Source and date: Rio Tinto plc, “Rio Tinto: Step‑change in performance delivering higher shareholder returns”, 29 July 2026 (supporting results hub). The reporting period is the six months ended 30 June 2026 (H1 2026). Primary currency in the release: US dollars (USD).
Consolidated sales revenue: $31.028bn for H1 2026, stated as up 15% year‑on‑year.
Underlying EBITDA (issuer‑presented non‑IFRS measure): $14.826bn for H1 2026, stated as up 28% year‑on‑year.
Free cash flow (issuer‑presented non‑IFRS cash metric): $3.834bn for H1 2026, stated as up 75% year‑on‑year.
Profit after tax attributable to owners: $6.664bn for H1 2026, stated as up 47% year‑on‑year.
The issuer reports 3% copper‑equivalent production growth for the period.

Non‑IFRS measures and company statements (Rio Tinto)

Rio Tinto identifies underlying EBITDA, free cash flow, underlying earnings and underlying return on capital employed (ROCE) as non‑IFRS financial performance indicators in its release and refers readers to reconciliation details in its published documents. These labels are preserved in this article.
The issuer states the first‑half result was “supported by continued investment and favourable commodity prices” and reports production growth; those phrases are presented here as the company’s explanation of drivers for the reported period.

Glencore plc — H1 2026 (USD) — issuer report

Key reported numbers (Glencore)

Source and date: Glencore plc, “2026 Half‑Year Report”, 5 August 2026 (supporting official results page). The reporting period is the first half of 2026 (H1 2026). Primary currency in the release: US dollars (USD).
Revenue: $174.430bn for H1 2026, stated as up 49% year‑on‑year.
Adjusted EBITDA (issuer‑presented adjusted measure): $10.115bn for H1 2026, stated as up 86% year‑on‑year.
Adjusted EBIT (issuer‑presented adjusted measure): $6.651bn for H1 2026, stated as up 269% year‑on‑year.
Income attributable to equity holders: $4.405bn for H1 2026 compared with a $655m loss in H1 2025, as reported by the company.
Industrial adjusted EBITDA: $6.5bn for H1 2026, stated as up 72% year‑on‑year.
Marketing adjusted EBIT: $3.3bn for H1 2026, stated as up 142% year‑on‑year.
Net debt: $10.194bn at 30 June 2026 compared with $11.171bn at 31 December 2025, as reported.

Adjusted measures and issuer commentary (Glencore)

Glencore said “substantially higher average prices for core commodities and a favourable marketing backdrop helped underpin the increase” in reported adjusted measures and described “a material repricing of energy and related markets after the escalation of the Middle East conflict” and supply‑chain disruptions affecting inputs and consumables. These are issuer statements about drivers and market conditions taken from the company release.
The company states that its adjusted measures are alternative performance measures, are not IFRS‑defined and may not be comparable with similarly titled measures at other companies; that caveat is preserved.

Tables: reporting dates, currencies, and selected measures (compact summaries)

Table 1 — Issuer reporting overview (compact)

Issuer	Primary source date	Reporting period	Primary reporting currency
HSBC Holdings plc	4 Aug 2026	H1 2026 (first half)	USD
Barclays PLC	28 Jul 2026	Six months ended 30 Jun 2026	GBP
Lloyds Banking Group plc	30 Jul 2026 (results published)	H1 2026	GBP
Rio Tinto plc	29 Jul 2026	Six months ended 30 Jun 2026	USD
Glencore plc	5 Aug 2026	H1 2026	USD

Table 2 — Select headline reported vs issuer‑adjusted measures (compact)

Issuer	Reported headline (statutory if stated)	Issuer‑labelled adjusted/non‑IFRS
HSBC	Profit before tax $19.5bn; revenue $37.7bn	Constant‑currency revenue excluding notable items $38.2bn
Barclays	Group profit before tax £6.1bn; group income £16.5bn	RoTE and other non‑IFRS measures with reconciliations
Lloyds	Statutory profit after tax £3.1bn; net income £9.7bn	RoTE 17.1% (issuer‑presented)
Rio Tinto	Sales revenue $31.028bn; profit after tax $6.664bn	Underlying EBITDA $14.826bn; free cash flow $3.834bn (non‑IFRS)
Glencore	Revenue $174.430bn; income attributable to equity holders $4.405bn	Adjusted EBITDA $10.115bn; adjusted EBIT $6.651bn (alternative measures)

Table 3 — Selected reported drivers and issuer‑presented cautions (compact)

Issuer	Stated drivers for H1 2026	Issuer presentation of caution or caveat
HSBC	Net favourable $2.2bn from notable items; banking NII growth; higher fee income	Notable vs reported and adjusted measures distinguished in release
Barclays	Group income up 11%; operating expenses up 6%	Non‑IFRS measures (RoTE) reconciled; not IFRS substitutes
Lloyds	Net income up 9%; NII £7.3bn; loans +£10.4bn	Interim dividend recom., intended buyback presented as board statements
Rio Tinto	Continued investment; favourable commodity prices; 3% copper‑eq growth	Underlying measures flagged as non‑IFRS; reconciliations provided
Glencore	Higher average commodity prices; favourable marketing backdrop	Adjusted measures labelled alternative; may not be comparable with others

Table 4 — Example reconciliations and labels (compact)

Label in issuer release	User interpretation in this article
“Underlying EBITDA” / “Adjusted EBITDA”	Reported as issuer‑presented non‑IFRS/adjusted measure; see source
“Constant‑currency revenue excluding notable items”	Issuer‑presented adjusted revenue; distinct from reported revenue
“RoTE”	Issuer‑presented non‑IFRS performance measure with reconciliation stated
“Income attributable to equity holders”	Reported in issuer accounts; reported comparison with prior‑period loss where stated

Table 5 — Reader checklist (compact)

Question a reader may ask	How this article helps
What period and currency?	Each issuer section states the source date, reporting period and primary reporting currency.
Are these IFRS measures?	The article notes when issuers label measures as non‑IFRS, adjusted or alternative.
Can I compare the numbers directly?	The section “Why half‑year results cannot automatically be compared” explains limitations.
Does the article give investment advice?	No — there is an explicit no‑advice statement in the conclusion and the “What this does not tell a reader” section.

Reported profit, profit before tax and profit after tax — meaning and limits

Reported profit, profit before tax and profit after tax are central headline measures in issuer releases, but their presentation can differ across companies.

Profit before tax (PBT) is typically the figure reported before the deduction of tax expense in the income statement section of a company’s published results. Issuers may present period‑on‑period movements (for example HSBC reported profit before tax of $19.5bn for H1 2026, up $3.7bn or 23% versus H1 2025).
Profit after tax (PAT) is the result after tax and reflects the bottom‑line profit attributable to shareholders in issuer reporting (for example HSBC reported profit after tax of $15.3bn for H1 2026, up $2.9bn or 23% year‑on‑year; Rio Tinto reported profit after tax attributable to owners of $6.664bn for the six months to 30 June 2026, up 47% year‑on‑year).
Issuers may also report “income attributable to equity holders” or similar labels; in Glencore’s release the company reported income attributable to equity holders of $4.405bn for H1 2026 compared with a $655m loss in H1 2025. These are issuer‑presented statutory or reported‑basis outcomes.
Limitations: profit measures can be affected by notable items, exceptional or one‑off charges, changes in accounting estimates or presentation, and the issuer’s choice to present adjusted or underlying measures. Where an issuer provides both reported and adjusted numbers, the issuer’s release typically explains the adjustments and provides reconciliation schedules; this article preserves those issuer labels and cautions.

Revenue and income — reporting distinctions

Revenue (or group income, sales revenue) is presented by issuers in the way they define it in their accounts and press releases.

Rio Tinto reported consolidated sales revenue of $31.028bn for the six months ended 30 June 2026; Glencore reported revenue of $174.430bn for H1 2026; Barclays reported group income of £16.5bn for the six months to 30 June 2026; HSBC reported revenue of $37.7bn for H1 2026.
Distinctions: some issuers present reported revenue and also present adjusted or constant‑currency variants (for example HSBC separately reported constant‑currency revenue excluding notable items of $38.2bn). Both numbers appear in the issuer release and are not interchangeable. Issuers use different definitions and scopes when presenting “revenue” or “income”, which is why direct comparisons across issuers require attention to the issuer’s definition in its own documents.

Net interest income and net interest margin — banks’ measures

Net interest income (NII) and net interest margin (NIM) are commonly reported by banks.

Banks in this article reported NII and, in Lloyds’ case, a net interest margin. HSBC reported banking NII of $22.9bn for H1 2026, stated as up $1.6bn year‑on‑year. Lloyds reported NII of £7.3bn for H1 2026 and a NIM of 3.19% for the period.
Net interest income is the difference between interest income earned on assets and interest expense paid on liabilities in issuer accounting; net interest margin is typically expressed as NII divided by interest‑bearing assets or a similar balance‑sheet denominator as defined by the issuer. Each bank labels its measure and the basis in its own documentation.

Credit impairment charges and expected credit losses — banks’ items

Banks report credit impairment charges or expected credit losses (ECL) as part of their credit provisioning.

HSBC reported expected credit losses of $2.4bn for H1 2026, stated as up $0.4bn year‑on‑year. Barclays reported credit impairment charges of £1.4bn for H1 2026 compared with £1.1bn in H1 2025.
These items represent the issuers’ accounting provisioning for credit risk as presented in their financial statements. Movements in these figures are driven by issuer‑level loan book composition, provisioning models and macroeconomic expectations as reflected in each issuer’s accounting at the reporting date; interpretation beyond the issuer statements is not provided here.

Capital ratios and CET1 — what the issuer statements show

Capital ratios are regulatory and accounting measures reported by banks.

Barclays reported a CET1 ratio of 14.3% at 30 June 2026 in its interim results announcement; Lloyds’ investor hub reports RoTE and other capital‑related metrics in its published materials. These are the issuers’ statements of their capital positions at the dates specified.
Reported return metrics such as return on equity (RoE) or return on tangible equity (RoTE) are often presented as non‑IFRS indicators; for example Barclays reported H1 Group RoE of 12.9% and RoTE of 14.8% and explicitly stated RoTE is a non‑IFRS performance measure with reconciliation material provided in its disclosure. Readers should treat these labels as the issuer does: as performance measures presented alongside, but not replacing, IFRS‑defined measures.

Cash flow, free cash flow and net debt — mining examples

Mining and commodity‑related issuers commonly publish cash‑flow measures and net debt positions in their reports.

Rio Tinto reported free cash flow of $3.834bn for the six months ended 30 June 2026, stated as up 75% year‑on‑year. Glencore reported net debt of $10.194bn at 30 June 2026 compared with $11.171bn at 31 December 2025.
Issuers often label free cash flow and other cash metrics as non‑IFRS or adjusted and provide reconciliation schedules. Rio Tinto, for example, identifies free cash flow and underlying EBITDA as non‑IFRS indicators and refers readers to reconciliations in its primary documents. Glencore presents adjusted EBITDA and adjusted EBIT as alternative performance measures and places a caution that such measures are not IFRS‑defined.

Underlying earnings, EBITDA, adjusted EBITDA and adjusted EBIT — definitions and issuer caveats

Several issuers use non‑IFRS or adjusted metrics that are meaningful within their reporting frameworks but differ from statutory accounting measures.

EBITDA is earnings before interest, tax, depreciation and amortisation in a commonly accepted operational sense; issuers sometimes present “underlying EBITDA” or “adjusted EBITDA” to exclude items they identify as non‑recurring or not part of underlying operations.
Rio Tinto reported underlying EBITDA of $14.826bn for H1 2026, and described this as an issuer‑presented non‑IFRS financial performance indicator. Glencore reported adjusted EBITDA of $10.115bn and adjusted EBIT of $6.651bn for H1 2026 and label these as adjusted or alternative performance measures.
Issuer caveats: where the company’s release calls a measure non‑IFRS, adjusted or alternative, that label is preserved here. For example, Rio Tinto explicitly identifies underlying EBITDA and free cash flow as non‑IFRS indicators and Glencore states its adjusted measures are alternative performance measures and “may not be comparable with similarly titled measures at other companies.” The article does not recast these adjusted measures as IFRS or statutory metrics.

Alternative performance measures and reconciliations — issuer statements

Issuers who present alternative or adjusted measures typically provide reconciliation tables in their published results.

Barclays states RoTE and other indicators are non‑IFRS performance measures and provides reconciliation material. Rio Tinto and Glencore identify multiple measures as non‑IFRS or alternative and refer readers to reconciliations in their documentation. HSBC’s release distinguishes reported revenue and constant‑currency revenue excluding notable items and provides the adjusted figure in its own tables.
The presence of reconciliations in issuer documents is an invitation for readers to inspect the primary tables. This article summarises the headline numbers and preserves issuer labels; it does not reproduce full reconciliation schedules.

Company‑stated drivers and cautions — separating historical results from management outlook

Issuer disclosures commonly include narrative statements identifying drivers of reported results and management comments about the outlook or strategy. In summarising those statements, this article preserves the issuer’s language and distinguishes historical reported outcomes from management forecasts or targets.

HSBC: the company stated the profit‑before‑tax movement “primarily reflected a net favourable year‑on‑year impact of $2.2bn from notable items, growth in banking net interest income, and higher fee and other income, partly offset by higher expected credit losses and other credit impairment charges and a planned increase in operating expenses.” That language is quoted from the HSBC interim results announcement and described in this article as the company’s account of drivers for its H1 2026 result.
Rio Tinto: the company said the first‑half result “was supported by continued investment and favourable commodity prices” and reported 3% copper‑equivalent production growth. Those are issuer statements about the period and are reported here as such.
Glencore: the company said “substantially higher average prices for core commodities and a favourable marketing backdrop helped underpin the increase” and described specific market developments in the period; those descriptions are presented here as the company’s own account of drivers.
Barclays and Lloyds: the banks’ releases include reported income, expense and capital metrics. Barclays explicitly labels RoTE and similar indicators as non‑IFRS; Lloyds’ investor hub reports the statutory profit after tax, net income, costs and the group’s interim dividend recommendation and intended buyback, which the issuer presents as board or management plans.

What the headline does and does not establish

This headline and article present a selected group of major London‑listed banking and mining issuers and summarise the numbers and issuer statements in their own half‑year reports. The presentation does not show that every FTSE 100 company performed in the same way, does not compare each constituent across the exchange, and does not imply an order of performance among all FTSE 100 constituents. The companies included are those named in the source‑limited pack: HSBC Holdings plc, Barclays PLC, Lloyds Banking Group plc, Rio Tinto plc and Glencore plc, each as they reported for the first half of 2026 in the issuer documents listed in the Sources section.

What this does not tell a reader

This article is general information, not investment, financial, tax, legal or other professional advice. It does not recommend buying, selling or holding any security.

FAQ (short)

Q: Which issuers are covered in this article?
A: The article summarises half‑year reporting from HSBC Holdings plc (Interim Results 2026), Barclays PLC (Interim Results Announcement), Lloyds Banking Group plc (investor materials from its 30 July 2026 half‑year results), Rio Tinto plc (29 July 2026 release) and Glencore plc (2026 Half‑Year Report, 5 August 2026). See the Sources section for the issuer URLs.

Q: Are the adjusted and reported measures equivalent?
A: No. Where issuers label measures as adjusted, underlying, constant‑currency or alternative performance measures the article preserves those labels and does not treat them as interchangeable with reported statutory or IFRS measures. Issuers provide reconciliation material in their own documents.

Q: Can I compare HSBC’s dollar figures with Barclays’ sterling figures directly here?
A: This article reports each issuer’s numbers in the currency used in the issuer’s primary release and does not convert or aggregate across currencies.

Q: Are the company statements about drivers presented as facts?
A: Company statements about drivers and forward‑looking targets are presented as the issuer’s own descriptions or management targets; they are not presented as guaranteed outcomes or independently verified facts.

Dated primary‑source timeline (selected issuer release dates)

28 July 2026 — Barclays PLC, “Interim Results Announcement” (six months ended 30 June 2026), primary reporting currency: GBP.
29 July 2026 — Rio Tinto plc, “Rio Tinto: Step‑change in performance delivering higher shareholder returns” (six months ended 30 June 2026), primary reporting currency: USD.
30 July 2026 — Lloyds Banking Group plc published 2026 half‑year results and a strategy update (investor hub materials), primary reporting currency: GBP.
4 August 2026 — HSBC Holdings plc, “HSBC Holdings plc Interim Results 2026” (H1 2026), primary reporting currency: USD.
5 August 2026 — Glencore plc, “2026 Half‑Year Report” (H1 2026), primary reporting currency: USD.

No‑advice conclusion

This article summarises issuer‑reported H1 2026 numbers and the issuer commentary included in primary releases from the five listed companies above. It confines itself to the data and language the companies used in their own releases and the dates and currencies the issuers specified. It does not provide advice or investment recommendations.

Sources

HSBC Holdings plc, “HSBC Holdings plc Interim Results 2026”, 4 August 2026 — HSBC Interim Results 2026
Barclays PLC, “Interim Results Announcement”, 28 July 2026 — Barclays H1 2026 Interim Results Announcement
Supporting results hub: https://home.barclays/investor-relations/reports-and-events/financial-results/
Lloyds Banking Group plc, Investors hub and financial calendar (half‑year results published 30 July 2026) — Lloyds Banking Group Investors hub and Lloyds Banking Group Financial calendar
Rio Tinto plc, “Rio Tinto: Step‑change in performance delivering higher shareholder returns”, 29 July 2026 — Rio Tinto 2026 half-year results release
Supporting results hub: Rio Tinto results hub
Glencore plc, “2026 Half‑Year Report”, 5 August 2026 — Glencore 2026 Half-Year Report
Supporting results page: Glencore 2026 results page

Appendix: issuer‑by‑issuer compact tables (detailed compact tables)

Table A — HSBC H1 2026 (select figures)

Item	Value (USD)	Year‑on‑year change (as stated)	Source/date
Profit before tax	$19.5bn	Up $3.7bn or 23% vs H1 2025	HSBC Interim Results 2026 (4 Aug 2026)
Profit after tax	$15.3bn	Up $2.9bn or 23% vs H1 2025	HSBC Interim Results 2026 (4 Aug 2026)
Revenue (reported)	$37.7bn	Up $3.6bn or 11% vs H1 2025	HSBC Interim Results 2026 (4 Aug 2026)
Constant‑currency revenue excl. notable items	$38.2bn	Up $2.0bn (issuer‑presented adjusted)	HSBC Interim Results 2026 (4 Aug 2026)
Banking NII	$22.9bn	Up $1.6bn vs H1 2025	HSBC Interim Results 2026 (4 Aug 2026)
ECL	$2.4bn	Up $0.4bn vs H1 2025	HSBC Interim Results 2026 (4 Aug 2026)
Operating expenses	$17.4bn	Up $0.4bn or 2% vs H1 2025	HSBC Interim Results 2026 (4 Aug 2026)

Table B — Barclays H1 2026 (select figures)

Item	Value (GBP)	Year‑on‑year change (as stated)	Source/date
Group profit before tax	£6.1bn	H1 2026 vs £5.2bn in H1 2025	Barclays Interim Results Announcement (28 Jul 2026)
Group income	£16.5bn	Up 11% y/y	Barclays Interim Results Announcement (28 Jul 2026)
Total operating expenses	£9.1bn	Up 6% y/y	Barclays Interim Results Announcement (28 Jul 2026)
Credit impairment charges	£1.4bn	Compared with £1.1bn in H1 2025	Barclays Interim Results Announcement (28 Jul 2026)
CET1 ratio	14.3%	At 30 Jun 2026	Barclays Interim Results Announcement (28 Jul 2026)
H1 Group RoE	12.9%	H1 2026 (issuer‑presented)	Barclays Interim Results Announcement (28 Jul 2026)
RoTE	14.8%	Issuer‑presented non‑IFRS measure	Barclays Interim Results Announcement (28 Jul 2026)

Table C — Lloyds H1 2026 (select figures)

Item	Value (GBP)	Year‑on‑year change (as stated)	Source/date
Statutory profit after tax	£3.1bn	Up 23% y/y	Lloyds investor hub (results published 30 Jul 2026)
Net income	£9.7bn	Up 9% y/y	Lloyds investor hub (30 Jul 2026)
Operating costs	£4.9bn	Described as flat y/y	Lloyds investor hub (30 Jul 2026)
Net interest income	£7.3bn	Reported for H1 2026	Lloyds investor hub (30 Jul 2026)
Net interest margin	3.19%	Reported for the period	Lloyds investor hub (30 Jul 2026)
RoTE	17.1%	Issuer‑presented	Lloyds investor hub (30 Jul 2026)
Loans / Deposits growth YTD	Loans +£10.4bn; Deposits +£4.4bn	Reported as loan/deposit growth YTD 2% / 1%	Lloyds investor hub (30 Jul 2026)

Table D — Rio Tinto H1 2026 (select figures)

Item	Value (USD)	Year‑on‑year change (as stated)	Source/date
Consolidated sales revenue	$31.028bn	Up 15% y/y	Rio Tinto release (29 Jul 2026)
Underlying EBITDA	$14.826bn	Up 28% y/y (issuer‑presented non‑IFRS)	Rio Tinto release (29 Jul 2026)
Free cash flow	$3.834bn	Up 75% y/y (issuer‑presented non‑IFRS)	Rio Tinto release (29 Jul 2026)
Profit after tax attributable to owners	$6.664bn	Up 47% y/y	Rio Tinto release (29 Jul 2026)
Copper‑equivalent production growth	3%	Issuer‑reported for H1 2026	Rio Tinto release (29 Jul 2026)

Table E — Glencore H1 2026 (select figures)

Item	Value (USD)	Year‑on‑year change (as stated)	Source/date
Revenue	$174.430bn	Up 49% y/y	Glencore 2026 Half‑Year Report (5 Aug 2026)
Adjusted EBITDA	$10.115bn	Up 86% y/y (issuer‑presented)	Glencore 2026 Half‑Year Report (5 Aug 2026)
Adjusted EBIT	$6.651bn	Up 269% y/y (issuer‑presented)	Glencore 2026 Half‑Year Report (5 Aug 2026)
Income attributable to equity holders	$4.405bn	Compared with $655m loss in H1 2025	Glencore 2026 Half‑Year Report (5 Aug 2026)
Industrial adjusted EBITDA	$6.5bn	Up 72% y/y (issuer‑presented)	Glencore 2026 Half‑Year Report (5 Aug 2026)
Marketing adjusted EBIT	$3.3bn	Up 142% y/y (issuer‑presented)	Glencore 2026 Half‑Year Report (5 Aug 2026)
Net debt	$10.194bn	At 30 Jun 2026 compared with $11.171bn at 31 Dec 2025	Glencore 2026 Half‑Year Report (5 Aug 2026)

Reader questions and next steps

If you want the full reconciliations, see the primary issuer releases in the Sources section above. Issuers routinely provide reconciliation tables for non‑IFRS measures in their full‑length results documents.
If you are analysing FTSE 100 earnings across many constituents, apply consistent currency and accounting adjustments and consult each issuer’s reconciliation schedules rather than relying on headline numbers alone.
For coverage of wider UK business, economy and UK news that may reference issuer reporting and policy statements, see the OGM reading links above.

Editorial and accounting basis caveat

This article is a neutral compilation and explainer of issuer‑reported numbers and statements from the specified primary sources and dates. All figures are reported in the currency and accounting basis used by the issuer in its release and are reproduced here with the issuer’s own labels (for example “underlying”, “adjusted”, “constant‑currency” or “alternative performance measures”) where the issuer used them. The article does not perform currency conversions, create aggregated indices, or introduce outside economic or market data.

Acknowledgements

This report is drawn entirely from the issuer primary sources listed in the Sources section and preserves the issuer‑provided numbers, dates, currencies and accounting labels.

How to read the five issuer disclosures without overstating comparability

The five releases can be useful starting points for understanding what each issuer reported in the first half of 2026, but they are not a single common scorecard. The most reliable sequence is to begin with the date and reporting period on the source document, then identify the company’s primary currency, then read the label attached to the measure. This article has followed that sequence throughout. HSBC, Rio Tinto and Glencore used US dollars in the cited materials, while Barclays and Lloyds used pounds sterling. The article therefore reports the figures as published rather than translating them into a common currency or combining them into a total.

Reading selected FTSE 100 earnings disclosures in this way keeps the article anchored to the issuer’s own definitions and reporting timetable. It also avoids turning separate company statements into a sector-wide ranking or a view on future financial performance.

The second step is to distinguish a reported or statutory line from an issuer‑defined performance indicator. That distinction is visible even where two labels sound similar. HSBC’s reported revenue and its constant‑currency revenue excluding notable items are both disclosed figures, but they answer different questions because the latter carries the issuer’s stated adjustments. Barclays explicitly says that RoTE and certain other indicators are non‑IFRS measures and points readers to reconciliation material. Rio Tinto labels underlying EBITDA and free cash flow as non‑IFRS indicators. Glencore describes adjusted EBITDA and adjusted EBIT as alternative performance measures and warns that such measures may not be comparable with similarly titled measures used by other companies.

Those statements do not make the non‑IFRS, adjusted or alternative measures unusable. They establish how the respective companies present their own performance, and the primary reports provide the accompanying definitions and reconciliations. They do mean, however, that a percentage movement or a headline measure cannot simply be placed beside a similarly named measure from another issuer and treated as an identical concept. The reader needs the individual issuer’s label, source date, reporting period and reconciliation context. That is why the article retains the terms “underlying”, “adjusted”, “constant‑currency”, “non‑IFRS” and “alternative performance measure” rather than replacing them with a single generic category.

The distinction is also important when reading the reported drivers. HSBC’s account of higher banking NII, fees, notable items, credit losses and expenses is the bank’s explanation in its 4 August 2026 release. Rio Tinto’s references to continued investment, favourable commodity prices and copper‑equivalent production are statements in its 29 July release. Glencore’s observations about average core-commodity prices, marketing conditions and supply-chain disruptions are likewise presented as the issuer’s description of the period. In each case, the article attributes the narrative to the company rather than treating it as an independently tested explanation of the entire sector or the wider economy.

The same discipline separates historical reporting from statements about the future. A board recommendation, intended buyback, production aim, target, strategy update, capital-return statement or other outlook item records what the company or its directors said at the date of publication. It does not establish a later result, a future distribution, a project outcome or an investment conclusion. The issuer releases themselves contain forward-looking-statement cautions; this explainer does not go beyond them.

Finally, readers looking for detail can use the article’s sources as a map rather than as a substitute for the underlying documents. The official results hubs link to the full reports, presentations and reconciliation materials released by the companies. The compact tables in this article are designed to make the primary disclosures easier to locate: they preserve dates, periods, currencies and labels, but they do not recreate full financial statements or make a cross-company ranking. This maintains a clear boundary between explanatory reporting and an investment analysis.

Source-tracing checklist for this article

The practical value of a source-limited explainer depends on traceability. Each figure in the issuer sections can be read against four pieces of context in the cited release: the document date, the financial period, the currency and the label attached to the measure. Those four checks are deliberately repeated in the compact tables because a percentage change without its period, or an adjusted measure without its issuer label, can be misleading when lifted into a headline or a social post.

For the bank disclosures, the first check is whether the item is described as statutory, reported or issuer‑presented. HSBC’s release separately presents reported revenue and constant‑currency revenue excluding notable items. Barclays’ results distinguish reported financial-statement information from non‑IFRS indicators such as RoTE. Lloyds’ investor page identifies statutory profit after tax, net income, NII and its own return measure. The article retains those separate names rather than implying that they are interchangeable bank-sector benchmarks.

For the mining disclosures, the same method applies. Rio Tinto reports both reported sales revenue and profit after tax attributable to owners alongside non‑IFRS underlying EBITDA and free cash flow. Glencore reports revenue and income attributable to equity holders alongside adjusted EBITDA, adjusted EBIT and other alternative performance measures. The cited company materials provide their definitions, reconciliations and caveats. This article identifies the label in the body and in the appendix table, but does not independently recalculate or standardise the issuer measures.

The final check concerns the difference between a completed half‑year result and an outlook statement. The numerical historical items in this article refer to the dates and periods stated by the issuers. A management target, strategy, planned capital action, production expectation or market observation remains a dated issuer statement, subject to the cautions in its source document. Treating those different categories separately helps preserve the record of what was reported without turning the article into a prediction about future results, company actions or market performance.