Santos Ltd HY26 Financial Results
Key points
- Sales volume increased 1.7% to 48.0 mmboe
- Product sales increased 1.6% to US$2,620 million
- Underlying profit decreased 22% to US$397 million
- Interim dividend of 11.6 US cents per share
- Barossa project ramped up to 97% of planned rates
Full summary
Santos Ltd's HY26 results showed a 1.7% increase in sales volume to 48.0 mmboe, driven by higher LNG production and third-party purchases. Product sales rose by 1.6% to US$2,620 million. However, underlying profit fell 22% to US$397 million due to lower EBITDAX and EBIT. The company declared an interim dividend of 11.6 US cents per share, payable on August 25, 2026. The Barossa project achieved 97% of planned production rates, and major developments are expected to boost production in the second half of 2026.
Guidance
Underlying profit for HY26 decreased by 22% to US$397 million
Outlook
Santos expects increased production in the second half of 2026, driven by the ramp-up of Barossa and other major development projects.
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