Sydney, Feb 24, 2026, 16:58 AEDT — Market closed.
- Woodside shares closed up 2.6% after FY2025 underlying profit beat estimates
- Final dividend set at 59 US cents; shares go ex-dividend March 5
- Investors eye Louisiana LNG sell-down talks and Scarborough delivery risk
Woodside Energy shares ended 2.6% higher on Tuesday after the Australian oil and gas producer posted a smaller-than-expected fall in 2025 underlying profit and flagged talks to sell down another stake in its Louisiana LNG project. Underlying net profit after tax, excluding exceptional items, came in at US$2.65 billion versus a Visible Alpha consensus of US$2.54 billion; the stock rose as much as 2.9% to A$27.89, its strongest level since early August 2024. Tim Waterer, chief market analyst at KCM Trade, called the potential sell-down “a smart way” to de-risk the balance sheet, while Woodside still has an interim chief executive after Meg O’Neill left to run BP. (Reuters)
The numbers matter now because Woodside is deep in a heavy spending cycle on new liquefied natural gas projects, with investors policing leverage as much as volumes. Asset sales have become part of the equity story, not a side note.
Woodside said record 2025 production was 198.8 million barrels of oil equivalent and unit production cost fell 4% to US$7.8 a barrel of oil equivalent, helping it generate US$1.9 billion in free cash flow even as reported net profit after tax slid 24% to US$2.72 billion. Acting chief executive Liz Westcott said the “strong underlying NPAT” showed the base business held up “during a period of increased capital expenditure and softening prices”. The company said the US$17.5 billion Louisiana LNG project was 22% complete at year-end and still targeted first LNG in 2029, with discussions ongoing for the sale of up to a further 20% stake; Scarborough was 94% complete and on track for first cargo in the fourth quarter of 2026. (Afr)
Woodside’s final dividend of US$0.59 per share goes ex-dividend on March 5, with a record date of March 6 and payment due March 27. The company said the payout is fully franked — meaning it carries Australian tax credits — and the final Australian-dollar amount will be released on March 11 after currency elections close on March 9. (Woodside)
Beyond the dividend, investors are watching for any price and timing clues on the Louisiana sell-down, because the asset is capital-hungry and still years from first cargo. A firm update could also ease attention on the CEO search; the absence of a permanent leader can amplify second-guessing on strategy and risk appetite.
But the upside case depends on clean execution. Cost blowouts on Scarborough or Louisiana, a weaker LNG market, or a stalled stake sale would leave Woodside funding more of the build with debt or slower payouts.
Woodside’s market pitch leans on LNG demand growth as Asian buyers swap from coal, and on long-lived assets that throw off cash once built. That story plays better when projects hit dates and unit costs stay tight.
Traders will also parse what sits behind “underlying” profit, which strips out exceptional items, and how sensitive cash flow is to price swings. The stock’s run to levels last seen in 2024 sets a tougher bar for any guidance update.
Next on the calendar: Woodside’s sustainability briefing on March 16, followed by its annual general meeting on April 23 and a first-quarter report on April 29. Those dates are likely to bookend the next round of questions on spending, asset sales and the pace of LNG starts. (Woodside)
