Overview
Beach Energy reported a statutory net profit of A$281.4 million for the year ended June 30, 2026, representing a 742% increase on the prior year. The company also disclosed weaker top-line and underlying earnings performance for the period, with a 9% decline in revenue from ordinary activities to A$1.92 billion and a 21% fall in underlying net profit after tax to A$354.8 million.
Production and prices
Production for the year totaled 19.4 million barrels of oil equivalent. The company cited two operational headwinds to output: flooding in the Cooper Basin and lower volumes from the Otway Basin. To partially mitigate revenue pressure from lower volumes, Beach increased its average realised gas price by 7% to A$11.5 per gigajoule, following a targeted gas marketing approach.
Costs and balance sheet
Field operating costs fell by 3% to A$244 million. Beach completed a material asset disposal during the year, selling its VIC/L35 permit in the Otway Basin, which released in excess of A$500 million of near-term capital. The company retained a production royalty associated with that asset sale. Net gearing was reported at 10.6% and available liquidity stood at A$983 million. Net tangible asset backing per share increased to A$1.41 from A$1.36 year-on-year.
Dividends and shareholder returns
The board declared a final fully franked dividend of 2.0 Australian cents per share. That raised the full-year ordinary dividend to 3.0 cents, up from 2.0 cents in the prior year, and increased total ordinary dividends to A$159.6 million from A$114.1 million.
Outlook
For FY27, Beach guided production to a range of 19.5 million to 23.0 million barrels of oil equivalent and forecast capital expenditure of A$600 million to A$700 million.
Note: All figures and guidance above are as reported by the company for the year ended June 30, 2026.