CANBERA (dpa-AFX) - AGL Energy Limited (AGL.AX, AGLNF.PK) reported Wednesday lower profit in the first half amid slightly lower revenues.
Looking ahead for fiscal 2026, the company narrowed earnings guidance, now expecting underlying net profit between $580 million and $680 million, compared to previous outlook between $500 million and $700 million.
Underlying EBITDA is now expected between $2.02 billion and $2.18 billion, compared to previous estimate between $1.92 billion and $2.22 billion.
The company also said it is implementing a program that is targeting sustainable net operating cost reductions of $50 million per annum, with the full benefit from FY27 onwards.
In addition, the firm announced a strategic, long-term partnership with Aussie Broadband. Under the deal, 400k telecommunications customer services will be acquired by ABB in exchange for proceeds of approximately $115 million of shares in ABB.
Further, AGL has declared an interim fully franked dividend for FY26 of 24 cents per share, compared with 23.0 cents per share last year. The interim dividend will be paid on March 26, with record date of February 25.
In the first half, profit attributable to shareholders declined to A$94 million from last year's restated profit of A$162 million. Earnings per share were 14.0 cents, down from 24.1 cents last year.
Underlying net profit was A$353 million, down 6 percent from A$377 million a year ago. Underlying earnings per share was 52.5 cents, compared to 56.0 cents last year.
Underlying EBITDA was A$1.092 billion, nearly same as last year's A$1.097 billion.
Revenue edged down to A$7.044 billion from last year's A$7.110 billion.
Total generation volumes were 15.4 TWh, down 2.8 percent year-over-year.
In Australia, the shares closed Wednesday's regular trading at $9.89, up 11.75 percent.
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