Ampol’s stock climbed 4.4% to A$41.59 on Monday after the company posted record first-half earnings for the six months ended June 30, 2026, driven by sharply higher refining margins and a dividend increase.
Underlying net profit after tax surged 376% to A$857.2 million, exceeding the market consensus estimate of around A$840 million. Refining EBIT rose 245% to A$1.39 billion, reflecting improved margins at the Lytton refinery in Queensland.
The Lytton facility averaged refining margins of US$28.26 per barrel, up roughly 280% from the prior year, as global fuel markets tightened due to geopolitical disruptions. The Middle East conflict and Ukrainian drone strikes on Russian refinery infrastructure contributed to supply constraints, boosting margins.
Ampol also raised its interim dividend more than fourfold to 185 cents per share, while maintaining committed liquidity of A$5.8 billion. Leverage stood at 1.8 times, even after completing the EG Australia acquisition. The company’s Lytton Ultra Low Sulfur Fuels Project remains on track for a late-2026 start-up, with expected annual synergies of A$65–80 million from the EG integration within two years.
The broader Australian equity benchmark, the S&P/ASX 200, advanced 0.6% on the day.
