S&P/ASX 200 Index (ASX: XJO) energy stock Ampol Ltd (ASX: ALD) is charging higher today.
Shares in the Aussie fuel supplier closed yesterday trading for $26.89. In morning trade on Wednesday, shares just jumped to $27.97, up 4.0%. After some likely profit-taking, shares are currently changing hands for $27.63, up 2.8%.
For some context, the ASX 200 is up 0.3% at this same time.
Today's outperformance follows the release of Ampol's quarterly update (Q2 2025) and unaudited half-year results (H1 2025).
Here's what's happening.
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ASX 200 energy stock lifts on earnings growth
Turning to the quarterly update first, Ampol reported 2Q 2025 Lytton Refiner Margin (LRM) of US$8.71 per barrel. Management said this reflected improved product cracks compared to earlier in the year. 2Q 2024 LRM came in at US$8.81 per barrel.
Total refinery production for 2Q 2025 was 1.406 billion litres. Ampol said it does not expect to receive a payment under the Fuel Security Services Payment for the second quarter.
As for the first half of 2025, the ASX 200 energy stock said it expects to deliver RCOP EBITDA (that's Replacement Cost Operating Profit earnings before interest, taxes, depreciation and amortisation) of around $640 million.
Ampol expects RCOP EBIT of approximately $400 million for H1.
Management said this unaudited, provisional result was underpinned by earnings growth in its Convenience Retail and New Zealand markets.
The company said H1 2025 Convenience Retail continued its track record of growing earnings, delivering year-on-year growth in EBIT. This growth was credited to a favourable mix of premium fuels over the six months.
According to management:
This continues to reinforce the quality of Ampol's retail network and market positioning. Shop income was broadly consistent with the prior corresponding period. U-GO, our value-oriented offer, expanded to 34 sites in Australia by the end of the half.
The ASX 200 energy stock said its New Zealand segment also delivered "modestly higher" EBIT. Ampol said the strength of its diversified channels to market mitigated the impact of weaker sea-freight conditions, "which reduced the benefits of Ampol's integrated supply chain on segment results relative to the prior comparable period".
F&I Australia EBIT for H1 FY 2025 was reported to be broadly in line with the first half of last year, while F&I International continued to operate at around breakeven levels during the six-month period.
Ampol expects LRM for the first half of the 2025 financial year to be US$7.44 per barrel.
