The Woodside Energy Group Ltd (ASX: WDS) share price is in focus after the company reported a 13% rise in operating revenue to US$7,446 million and declared a fully franked interim dividend of 57 US cents per share for the half-year ended 30 June 2026.
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What did Woodside Energy Group Ltd report?
- Operating revenue rose 13% to US$7,446 million (H1 2025: US$6,590 million)
- Net profit after tax (NPAT) was US$1,672 million, up 27% from H1 2025
- Underlying NPAT of US$1,334 million, a 7% increase year-on-year
- EBITDA (excluding impairment) was US$4,647 million
- Free cash flow of US$352 million, up from US$136 million a year ago
- Fully franked interim dividend of 57 US cents per share (80% payout ratio)
What else do investors need to know?
Woodside delivered strong production of 86.5 million barrels of oil equivalent, although this was a 13% decline from last year due to planned turnaround and cyclone impacts. Unit production costs rose to US$8.8 per barrel of oil equivalent. Key major projects progressed well, with Scarborough 98% complete and on track for first LNG cargo in the fourth quarter of 2026. The Trion project offshore Mexico reached 64% completion, and Louisiana LNG reported 28% completion.
The balance sheet remains robust with liquidity of US$8,189 million. Gearing increased slightly to 20.6%, just outside the target range, due in part to new lease liabilities and hedge settlements. The interim dividend represents a yield of 5.9% and the dividend reinvestment plan remains suspended.
What did Woodside Energy Group Ltd management say?
Woodside's CEO, Liz Westcott, said:
We once again delivered strong production, cash flow and shareholder returns, while continuing to execute the next phase of growth. Keeping our people safe remains our highest priority… The Scarborough Energy Project is now 98% complete and remains on track to deliver first LNG cargo in the fourth quarter of 2026.
As we focus on Woodside's next phase of disciplined delivery, we have announced a series of actions to lift performance and sharpen our focus on value. We have set an annual cost savings target of $350 million from 2028 to be delivered through the structured review of our business.
What's next for Woodside Energy Group Ltd?
Looking ahead, Woodside reaffirmed full-year production and capital expenditure guidance. The company expects to complete key projects including Scarborough, Trion, and Louisiana LNG in line with previously announced timelines. Woodside continues work on asset portfolio optimisation, decommissioning activities, and expansion into lower-carbon and new energy opportunities.
The company is targeting cost savings of $350 million per year from 2028, with a renewed focus on operational discipline. Woodside is also progressing regulatory and development work on the Browse and Sunrise projects, as well as sustainability initiatives—aiming to underpin long-term returns for shareholders.
Woodside Energy Group Ltd share price snapshot
The Woodside share price has beaten the S&P/ASX 200 index (ASX: XJO) with a gain of around 25% over the past 12 months.
