Ampol Limited Q2 2026 Earnings Recap

Ampol shares rose 4.3% post-earnings, driven by earnings that significantly outperformed expectations amid exceptional market conditions and demonstrated value from its integrated fuel supply and optimization platform.

Key Takeaways

• RCOP EBITDA reached $1.64 billion, up 152% year-over-year, with EBIT of $1.39 billion and underlying NPAT of $860 million.
• Total sales volumes were resilient at 12.3 billion liters, growing 1.5% excluding net-sell adjustments; Convenience Retail volumes increased 2.4%, while Z Energy volumes declined 2.5%.
• Lytton refinery delivered an exceptional margin performance, benefiting from regional supply constraints and import cost advantages.
• Net borrowings increased to $3.52 billion due to the EG Australia acquisition but leverage remained manageable at approximately 1.8x.
• Board declared an interim dividend of $1.85 per share, supported by strong cash generation despite ongoing investments.