Origin Energy Ltd shares surged 5.15% during intraday trading on Thursday, after the power producer reported full-year underlying profit that exceeded analyst expectations and provided a robust earnings outlook for fiscal 2027.

The company posted an underlying profit of A$1.16 billion for the year ended June 30, slightly ahead of the Visible Alpha consensus estimate of A$1.14 billion. The beat was driven by a 21% jump in earnings at its energy markets division to A$1.70 billion, as resilient electricity retail sales volumes and higher customer prices helped offset a 26% decline in its integrated gas unit.

Looking ahead, Origin Energy forecast fiscal 2027 operating earnings for its energy markets arm between A$1.55 billion and A$1.85 billion, with the midpoint above the Visible Alpha consensus estimate of A$1.61 billion. The company also said its Octopus Energy UK retail business is expected to deliver another strong year, while declaring a final dividend of 30 Australian cents per share, unchanged from last year.