EarningsQ2 2026 Earnings Report
MX:WDS1N Q2 2026 EPS Results
Actual EPS$16.20
Consensus EPS$14.31
Beat/MissBeat by +$1.90
One Year Ago EPS$12.01
MX:WDS1N Q2 2026 Revenue Results
Actual Revenue$137.53B
Expected Revenue$77.06B
Beat/MissBeat by +$60.47B
YoY Revenue Growth+13.53%
Earnings Announcement Details
QuarterQ2 2026
Date08/24/2026
TimeAfter Close
Conference CallMonday, August 24, 2026
MX:WDS1N Upcoming Earnings
Woodside Energy Group's next earnings date is estimated for February 23, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:WDS1N Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operational and financial report card: strong production, robust EBITDA ($4.6bn), significant YoY free cash flow improvement (>150%), solid liquidity ($8.2bn) and major projects largely on schedule (Scarborough 98% complete, Trion 64%, Louisiana LNG progressing). Management also announced disciplined actions to sharpen capital allocation (single investment framework) and a USD 350m annual cost-out target from 2028. Offsetting items include a safety incident (one high consequence injury), operational constraints and strategic review at Beaumont New Ammonia, mark-to-market volatility on an embedded derivative (perdaman), a weaker-than-expected marketing contribution in H1 (timing), the retirement of Scope 3 targets and the abandonment of the $5bn new energy by 2030 ambition, and gearing slightly above target at 20.6%. On balance, the operational execution, strong cash generation, project progress and explicit cost discipline outweigh the lowlights and strategic/ESG trade-offs, yielding a positive outlook but with some areas of investor and stakeholder attention required.Company Guidance
Strong production and operating cash flow
Total production of 86.5 million barrels of oil equivalent for the half and operating cash flow of $3.0 billion, demonstrating reliable operations across the global portfolio.
Robust profitability and liquidity
Underlying net profit after tax of $1.3 billion, EBITDA of $4.6 billion and free cash flow of $352 million for the half; liquidity of $8.2 billion in cash and undrawn facilities.
Material YoY free cash flow improvement
Free cash flow increased by more than 150% year-on-year, indicating significantly improved cash generation versus the prior comparable period.
Shareholder returns and capital discipline
Board declared a fully franked interim dividend of USD 0.57 per share (top end of payout range); approximately $12 billion returned to shareholders since the 2022 merger with BHP Petroleum; continued focus on a disciplined capital strategy.
Major project delivery on schedule and on budget
Scarborough 98% complete at period end and on track for first LNG cargo Q4 2026 (floating production unit achieved ready-for-start-up and first gas subsequent to period); Trion 64% complete targeting first oil in 2028; Louisiana LNG 28% complete with Train 1 35% complete and key construction milestones achieved.
High-performing assets and regional progress
Sangomar delivered 15 million boe (Woodside share) at 99.5% reliability and has generated $3.8 billion of EBITDA since start-up; Pluto turnaround executed on schedule and within budget; pre-emption increased Woodside equity in Browse and operatorship assumed for Gippsland Basin assets.
Operational decommissioning and optimization
Commenced plug and abandonment on 8 subsea wells (North West Shelf, Julimar-Brunello) and removed ~26 km of flow lines/umbilicals (Stybarrow and Griffin); executing infill opportunities across Pluto, Julimar Phase 3 and Turrum Phase 3 to maximize value from existing infrastructure.
Sustainability progress on operational emissions
Achieved 2025 net equity Scope 1 and 2 GHG emissions reduction target and remain on track for a 2030 target of ~30% reduction; submitted second annual OGMP 2.0 implementation plan with enhanced methane reporting at Sangomar and North West Shelf.
Community and local economic contributions
Paid more than AUD 1 billion in taxes, royalties and levies to Australian governments during the half and committed over AUD 520 million of spend with ~300 local businesses during the Pluto Train 1 modifications program; launched inaugural global Indigenous people strategy and biodiversity commitments (e.g., $5 million to Louisiana park restoration).
Cost discipline initiative
Announced a structural cost-out target of USD 350 million per year to be delivered from 2028, covering operating costs, corporate overheads and some sustaining CapEx as part of a simplification and effectiveness program.
MX:WDS1N Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed