The Ampol Ltd (ASX: ALD) share price is in focus today as the company announced its first half 2026 unaudited RCOP EBITDA surged to approximately $1.6 billion, with reliable refinery operations driving earnings growth.
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What did Ampol Ltd report?
- Group unaudited RCOP EBITDA of around $1,600 million for 1H 2026 (up from $649 million in 1H 2025)
- RCOP EBIT of about $1,350 million in 1H 2026 (1H 2025: $404 million)
- Lytton Refiner Margin averaged US$28.26 per barrel for the half, up 280% from 1H 2025
- Group refinery production rose 8.7% to 2,945 ML
- Australian fuel sales (Ex Net-sell) increased 2.8% year-on-year
What else do investors need to know?
Ampol's integrated trading, shipping, and supply chain proved resilient amid ongoing Middle East conflict, enabling stable fuel supply across Australia and New Zealand. Demand spikes and constrained crude supplies lifted regional margins and highlighted the company's operational flexibility.
The company completed its acquisition of EG Australia in June 2026, which is expected to deliver annual synergies of $65 to $80 million within two years, although no earnings from EG Australia are included in these first-half results. Ampol also supported government fuel security efforts by purchasing additional inventories in both Australia and New Zealand during this volatile period.
What did Ampol Ltd management say?
Ampol's CEO, Matt Halliday, said:
Throughout the disruption, our focus has been on keeping Australia and New Zealand moving. As demand surged and supply tightened, our integrated supply chain came under enormous pressure but remained resilient. Our people also responded exceptionally well, helping fuel continue to reach communities across the country.
What's next for Ampol Ltd?
Looking ahead, Ampol will begin a major maintenance program at the Lytton refinery in August 2026, expected to take until October and reduce production volumes by approximately 300 ML. The company plans to manage this with its diversified supply and trading capability to maintain product availability.
Ampol notes that elevated earnings were partly driven by favourable supply and hedging positions established prior to the conflict. The company will release further audited results for 1H 2026 on 24 August 2026, with attention on how ongoing geopolitical instability affects market conditions.
Ampol Ltd share price snapshot
The Ampol share price has been on form over the past 12 months, delivering a return of 45%. As a comparison, the benchmark S&P/ASX 200 index (ASX: XJO) has only risen approximately 3.2%.
