Abstract

Woodside Energy Group Ltd will report quarterly earnings on February 24, 2026 after-market; this preview compiles last quarter’s results, current-quarter projections where available, and recent institutional commentary to frame expectations for revenue, margins, net profit, and adjusted EPS.

Market Forecast

Consensus projections for the current quarter are limited in public sources, and company-level current-quarter guidance has not been formally disclosed in the materials examined from January 1, 2026 to February 17, 2026; therefore, revenue, gross profit margin, net profit or margin, and adjusted EPS forecasts are not provided here. Based on the previous quarter’s mix, the main business outlook remains anchored by liquefied natural gas and crude/condensate volumes, with realized pricing and contract liftings likely to be near recent run-rate levels absent a disclosed change in guidance. Within the portfolio, liquefied natural gas appears poised to be the most active segment near term given ongoing commercial discussions in the United States referenced by recent media coverage.

Last Quarter Review

Woodside Energy Group Ltd’s most recent quarter posted approximately $6.59 billion in total revenue across reported operating segments, a gross profit margin of 38.62%, GAAP net profit attributable to the parent company of $0.66 billion, a net profit margin of 19.97%, and adjusted EPS was not disclosed in the collected financial fields for the period; quarter-on-quarter net profit growth was 0%. A notable operational highlight was the balanced contribution from LNG and crude/condensate, reinforcing diversified revenue across commodity products in the quarter. Main business highlights included liquefied natural gas revenue of $2.94 billion, crude and condensate revenue of $2.71 billion, household gas revenue of $0.71 billion, natural gas condensate revenue of $0.12 billion, and other revenue of $0.12 billion.

Current Quarter Outlook

Main business: Liquefied natural gas

Liquefied natural gas remains central to quarterly performance given its revenue scale of $2.94 billion in the last reported period and its sensitivity to offtake contracts and price realizations. The current quarter will likely hinge on shipping schedules, plant reliability, and any updates in long-term sales arrangements, especially where indexed pricing and destination markets create variability against spot benchmarks. Recent media references to Woodside Energy Group Ltd engaging in U.S. LNG supply discussions suggest ongoing commercial momentum that, if advanced, could underpin steady volume allocations or create optionality for portfolio balancing. In the near term, without formal guidance updates, the operational assumption is that LNG volumes continue near recent run-rate levels while pricing tracks contracted indices; deviations would most likely emerge from unplanned outages or market price excursions.

Most promising business: LNG commercialization and portfolio development

Within the portfolio, LNG commercialization appears the most poised to shape near-term upside, supported by the existing revenue base and signals of active engagement in potential U.S. supply arrangements. Engagements of this nature can improve portfolio flexibility by diversifying sourcing or marketing lanes, contributing to margin resilience if contract terms favor stable uplift relative to spot volatility. Should any transaction milestones occur within the quarter, the visibility of revenue contribution would depend on timing, offtake commencement, and whether the agreements involve tolling, equity offtake, or sales rights; these nuances directly affect revenue recognition in the current reporting cycle versus future periods. While direct YoY growth metrics for this segment were not formally disclosed in the collected datasets, LNG’s scale and pricing structure continue to position it as the segment with the greatest capacity to influence consolidated revenue and margin trends this quarter.

Stock price drivers: Margins, mix, and capital allocation signals

This quarter’s stock performance will likely be most sensitive to margin delivery against the prior quarter’s 38.62% gross profit margin and 19.97% net profit margin, with any variance attributable to mix shifts between LNG and liquids, realized pricing, and operating costs. Investors will focus on whether earnings quality is sustained via stable contract-backed volumes and disciplined operating expenditure, as well as any commentary on planned turnarounds or maintenance affecting throughput. Capital allocation signals, including potential updates around the balance sheet, distributions, or progress on strategic agreements mentioned in media coverage, may serve as catalysts by clarifying the sustainability of cash returns. In the absence of explicit current-quarter guidance, management’s remarks on pricing outlook and any forward indicators for contract liftings will likely serve as proxies for consensus positioning.

Analyst Opinions

Across the materials reviewed from January 1, 2026 to February 17, 2026, publicly accessible analyst previews and explicit rating changes for Woodside Energy Group Ltd were limited; however, institutional commentary in media digests has skewed toward cautious positioning given price-driven variability and the lack of formal current-quarter guidance disclosures. The majority view identified is cautious, reflecting a preference to await clearer signals on quarterly revenue trajectory and margin sustainment before revising expectations. In this context, sell-side and institutional notes highlighted through recent coverage focused on data points like day-to-day price moves and operational headlines, rather than publishing definitive earnings previews; this contributes to a conservative stance heading into February 24, 2026. The cautious view emphasizes that, without confirmed guidance updates, the prudent approach is to anchor assumptions around last quarter’s revenue mix—roughly $2.94 billion from LNG and $2.71 billion from crude/condensate—while monitoring for announcements on commercial developments such as potential U.S. LNG supply discussions. Given these conditions, the dominant institutional perspective anticipates relatively stable performance in the near term, with margin delivery and contract visibility serving as key determinants of post-earnings reaction. The focus thus remains on whether reported figures can confirm continuity in run-rate metrics and whether management will provide clarity for revenue, adjusted EPS, and any YoY dynamics for the current quarter in the after-market release on February 24, 2026.