Woodside Energy Group Ltd is an international energy company involved in the full spectrum of hydrocarbon operations. This includes the exploration, evaluation, ...
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Operator: Thank you for standing by, and welcome to the Woodside Energy Group Limited Half Year 2026 Results. [Operator Instructions] I would now like to hand the conference over to Liz Westcott, Chief Executive Officer. Please go ahead. Elizabeth Westcott: Good morning, and welcome to Woodside Half Year Results Presentation. Joining me on today's call is our Chief Financial Officer, Graham Tiver. We are presenting from Sydney, and I would like to begin by acknowledging the traditional custodians of this land, the Gadigal people of the Eora Nation and pay my respects to their elders, past and present. Now please take time to read the disclaimers, assumptions and other important information on Slides 2 and 3. And I'd also like to remind you that all dollar figures in today's presentation are in U.S. dollars, unless otherwise indicated. It's a great pleasure to present my first set of results as Woodside's CEO. I'm proud of the way we have delivered reliably and consistently through our company leadership transition and during a time of historic volatility on global energy markets. This continues our proven track record as a reliable supplier to customers and highlights the competitive advantages we have developed over 40-plus years of operations. Woodside's core value proposition remains, we supply energy to meet rising demand, return value for our shareholders through the cycle and offer tangible growth catalysts for investors. At our Capital Markets Day in November, we outlined Woodside's transformative growth pathway to achieve more than 50% sales growth and approximately $9 billion in net operating cash flow in 2032. And my focus as CEO is on the disciplined delivery of this pathway while raising the bar further to translate future growth into greater value for our shareholders. There are some key areas where Woodside can build from our strengths, to lift performance, sharpen our focus on value and improve the resilience of our business through the cycle. These include active management of our portfolio to maximize returns on capital with all investment opportunities competing under a single framework for shareholder value. Our investment choices in new energy must be underpinned by customer demand and market commerciality. We must also achieve structural cost savings across our business, driven by an ambitious and transparent cost-out target. We are announcing today a structural cost reduction target of USD 350 million per year to be delivered from 2028. Later in the presentation, I will provide more detail on how we will sharpen our focus on value. But first, to our half year results, which reflect Woodside's impressive operational and financial performance to date in 2026. These results demonstrate how we are derisking our business today and driving long-term shareholder value. As shown on Slide 6, reliable operations underpin strong production and cash flow across our global portfolio. We achieved total production of 86.5 million barrels …
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| The total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). |
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Daniel Stuart Kalms | Executive Vice President & Chief Operating Officer of International | USD 1,478,272 | Male | — | Active |
Elizabeth Westcott | CEO, MD & Director |
| Report Date | Employees | Form Type | Filing Date |
|---|
| USD 1,287,838 |
| Female |
| — |
| Active |
Graham Clifford Tiver FCPA | Executive Vice President & Chief Financial Officer | USD 1,243,632 | Male | — | Active |
Mark Abbotsford | Executive Vice President & Chief Commercial Officer | USD 1,012,377 | Male | — | Active |
Andy Drummond | Executive Vice President of Strategy | — | Male | — | Active |
Tony Cudmore | Executive Vice President of Sustainability, Policy & External Affairs | — | Male | 1970 | Active |
Julie Fallon | Executive Vice President of Technical & Energy Development | — | Female | — | Active |
Rebecca McNicol | Senior Vice President of Legal & Group General Counsel | — | Female | — | Active |
Ruth Lyall | Senior Vice President Human Resources | — | Female | — | Active |
Vanessa Martin | Vice President of Investor Relations | — | — | — | Active |
$1.16 per share
Est. EPS $0.00 · Revenue $3.70B
Est. EPS $1.81 · Revenue $15.59B · 2 analysts
EPS $0.88 · Revenue $7.47B
EPS $1.42 · Revenue $12.98B
EPS $0.69 · Revenue $6.58B
EPS $1.87 · Revenue $13.18B
EPS $1.01 · Revenue $5.99B
EPS $0.87 · Revenue $13.99B
| $13.0B |
| -1.5% |
| +16.8% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $2.7B | -23.9% | +19.7% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +34.9% | -18.9% | +7.1% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +29.8% | -19.9% | +15.2% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +20.9% | -22.8% | +2.4% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $-782.0M | -182.8% | -321.0% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | -6.0% | -184.0% | -289.2% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 38.2% | +16.4% | -0.8% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.59x | +23.3% | -12.7% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $66.5B | +8.5% | +1.8% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 1.42 vs 1.33 | +7.1% | — | — |
| Revenue Surprise | $13.0B vs $13.0B | 0.0% | $7.5B vs $3.2B | +132.4% |
| SEC Filing |
|---|
| Dec 31, 2025 | 0 | 20-F | Feb 24, 2026 | View |
| Dec 31, 2024 | 98,655 | 20-F | Feb 25, 2025 | View |
| Dec 31, 2023 | 4,667 | 20-F | Feb 27, 2024 | View |
| Dec 31, 2022 | 4,427 | 20-F | Feb 27, 2023 | View |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Oct 1, 2028 | Westcott Elizabeth Morton | director, officer: Chief Executive Officer | Woodside Equity Plan Rights | — | 422 | — |
| Mar 7, 2028 | Kalms Daniel Stuart | officer: See remarks | Equity Rights | — | 12,200 | — |
| Dec 15, 2027 | Abbotsford Mark Anthony | officer: See Remarks | Supplementary Woodside Equity Plan Rights | — | 31,281 | — |
| Dec 15, 2027 | Kalms Daniel Stuart | officer: See remarks | Supplementary Woodside Equity Plan Rights | — | 31,281 | — |
| Dec 15, 2027 | Tiver Graham Clifford | officer: See remarks | Supplementary Woodside Equity Plan Rights | — | 31,281 | — |
