Analyst Consensus ?
ConsensusHold2 ratings
Bullish00.0%
Neutral2100.0%
Bearish00.0%
Woodside Energy Group Ltd · WDS · FY2026 Q2 · Calendar Q3 2026
Woodside reports strong H1 cash generation as strategy shifts
Strong H1 cash generation and progress on major LNG projects support Woodside's near-term operating case, but the investment narrative is changing as management reduces new-energy spending ambition and emphasizes cost-out execution and core LNG growth.
Reported Before market openNYSEEnergy
$43.93B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.88
Consensus $0.78
EPS surprise
+13.3%
Reported versus consensus
Reported revenue
$7.45B
Consensus $3.61B
Revenue surprise
+106.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-2.1%
Event window
SPY move
-0.3%
Same window
Abnormal move
-1.8%
Stock minus SPY
Volume
0.6×
Versus trailing sessions
Subsequent drift
-2.7%
Up to 20 sessions
WDSSPY benchmark
Ask FN2 about WDS FY2026 Q2
Transcript, numbers and history already loaded
Why did WDS fall 2.1% after beating EPS estimates in FY2026 Q2?What changed in WDS's guidance and outlook in FY2026 Q2?Give me the bull and bear case for WDS after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Management reported strong H1 2026 operating performance and added a $350m annual cost-out target from 2028. It also retired the $5bn new-energy spend target, initiated a strategic review of Beaumont New Ammonia and retired Scope 3 emissions targets.
Guidance delta
Maintained; management also introduced a $350m annual cost-out target from 2028.
Key takeaways
- H1 EBITDA was $4.6bn, with free cash flow up more than 150% year over year.
- Scarborough LNG was 98% complete, Trion 64% complete and Louisiana LNG 28% complete in the supplied analysis.
- Woodside retired its $5bn new-energy spend target, began a Beaumont New Ammonia review and retired Scope 3 emissions targets.
Management priorities
- Advance Scarborough, Trion and Louisiana LNG projects.
- Continue Louisiana LNG sell-down and offtake discussions.
- Implement the cost-out program, review Beaumont New Ammonia and advance Browse toward FID.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$23.17Previous close
$23.21Low
$25.61Average
$28High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 21, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Citigroup | Neutral | Sell | Upgrade | Feb 25, 2025 |
| Bernstein | Market Perform | Outperform | Downgrade | Aug 20, 2024 |
Named analyst price targets
Upside is calculated against the persisted previous close $23.17. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Needham | Cameron Needham | $23.21 | $23.07 | +0.2% | Aug 11, 2026 |
| Bernstein | Neil Beveridge | $28 | $17.7 | +20.8% | Aug 20, 2024 |
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Start freeCompany context
Snapshot as of publicationWoodside Energy Group Ltd is an international energy company involved in the full spectrum of hydrocarbon operations. This includes the exploration, evaluation, development, extraction, marketing, and distribution of resources across various global regions, such as Oceania, Asia, Canada, Africa, and beyond. The company's output comprises a range of vital energy commodities: liquefied natural gas (LNG), pipeline natural gas, condensate, liquefied petroleum gas (LPG), and crude oil. Woodside maintains stakes in numerous key projects, including Greater Browse, Greater Sunrise, Greater Pluto, Greater Exmouth, North West Shelf, Wheatstone, Julimar-Brunello, specific ventures in Canada and Senegal, Greater Scarborough, and Myanmar. Founded in 1954, the company operated as Woodside Petroleum Ltd until its rebranding to Woodside Energy Group Ltd in May 2022. Its corporate base is situated in Perth, Australia.
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
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Sources
- Earnings call transcript and parsed analysis · 2026-08-25T17:19:55.400358+00:00
- FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
- Polygon adjusted daily market bars · 2026-09-21T09:20:50.686457+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T09:20:50.683046+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.