Sydney, Feb 24, 2026, 16:58 AEDT — Market closed.
- Woodside shares finished 2.6% higher as underlying profit for FY2025 topped expectations
- The final dividend lands at 59 US cents. Shares trade ex-dividend on March 5.
- Investors are watching talks over the Louisiana LNG sell-down and risks tied to Scarborough delivery.
Woodside Energy jumped 2.6% Tuesday, with shares hitting A$27.89—levels not seen since early August 2024—after the Australian oil and gas group reported a 2025 underlying profit drop that wasn’t as steep as analysts feared. Underlying net profit after tax, stripping out one-offs, landed at US$2.65 billion, beating the Visible Alpha consensus of US$2.54 billion. The company also said it’s in talks to sell another stake in its Louisiana LNG operation. Tim Waterer of KCM Trade described the move as “a smart way” to ease risk on the balance sheet. Woodside continues to operate under an interim CEO since Meg O’Neill’s move to BP. Reuters
Numbers are in focus these days as Woodside pushes through an intense spending phase on new liquefied natural gas projects, while investors scrutinize leverage just as closely as output. Asset sales, once a footnote, now sit squarely in the company’s equity narrative.
Woodside posted record output for 2025, hitting 198.8 million barrels of oil equivalent. Unit production costs dropped 4% to US$7.8 per barrel, which supported US$1.9 billion in free cash flow even as net profit after tax fell 24% to US$2.72 billion. Acting CEO Liz Westcott pointed to “strong underlying NPAT,” arguing the base business held steady “during a period of increased capital expenditure and softening prices.” Louisiana LNG—a US$17.5 billion project—reached 22% completion by year-end and is still aiming for first LNG in 2029. Woodside also said it’s still in talks to sell up to another 20% stake in Louisiana LNG. Scarborough now stands at 94% complete, with first cargo expected in the fourth quarter of 2026. Afr
Woodside has set its final dividend at US$0.59 per share, with the stock trading ex-dividend on March 5. Investors on record by March 6 will see payment on March 27. According to the company, the dividend is fully franked, so holders get the benefit of Australian tax credits. The exact amount in Australian dollars will be announced March 11, after the currency election window closes March 9.
Aside from the dividend, traders are laser-focused on potential signals about when and at what price the Louisiana sell-down might happen. The project demands heavy capital and is still a long way from shipping its first cargo. Any concrete details would likely help shift focus away from the ongoing CEO hunt, since not having a permanent chief can stir fresh doubts about direction and risk tolerance.
The bull case hinges on smooth delivery. Any cost overruns at Scarborough or in Louisiana, a softening LNG market, or delays in the stake sale could force Woodside to take on more debt or hold back on payouts.
Woodside banks on rising LNG demand, counting on Asian buyers making the move from coal, plus the appeal of assets that churn out cash for decades after construction. But that narrative only holds if projects land on schedule and cost discipline doesn’t slip.
Investors are likely to dig into what gets counted as “underlying” profit—those numbers exclude one-off items—and watch closely just how much cash flow moves with prices. Shares have climbed back to highs not touched since 2024, raising expectations for whatever guidance comes next.
Mark March 16 for Woodside’s sustainability update. The annual general meeting lands April 23, with the first-quarter numbers due out April 29. That stretch should frame the key debates on spending, asset sales, and how quickly new LNG projects come online.
