Woodside Energy Group Ltd Earnings Recaps
Q2 2026
Aug 26, 2026
Woodside’s shares declined 6.0% following the release as investors were likely disappointed by the cautious outlook marked by constrained production at Beaumont New Ammonia due to third-party feedstock limits, which are expected to persist through 2027.
Key takeaways
- Total production reached 86.5 million barrels of oil equivalent in the half, supported by reliable operations across the portfolio.
- Free cash flow more than doubled year-on-year, and EBITDA remained strong at $4.6 billion.
- Beaumont New Ammonia production was limited by third-party feedstock availability, with constraints expected into 2027.
- Progress continues on major projects, including Scarborough at 98% completion and on schedule for first LNG cargo in Q4 2026.
- Structural cost reduction target of USD 350 million annually by 2028 was announced to improve cost discipline.