Karoon Energy reports 2% drop in full-year profit on lower oil price
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The news: Karoon Energy delivered a 2% decrease in full-year net profit to USD125.5 million ($176.2 million), exceeding analysts estimate of USD108.1 million, driven by lower realised oil prices and one less Bauna cargo sold.
The numbers: Underlying earnings before interest and tax saw a 21% decrease year-on-year to USD388.8 million, while operating cashflow was 42% lower to USD251.4 million.
The company declared a fully franked final dividend of 3.1 cents per share, bringing the total divided to 5.5 cents in 2025.
The context: CEO Carri Lockhart said the profit decline was due to a weaker commodity environment during the period, partly offset by lower operating costs.
The company reaffirmed its FY26 guidance, including flotel costs of between USD43 million and USD53 million and a one- off transition cost in the range of USD6 million to USD7 million.
The source: ASX
