3 days ago
Australia's AGL Energy sees lower fiscal 2026 profit, cuts dividend
Aug 13 (Reuters) - Australia's AGL Energy ( opens new tab forecast slightly lower underlying earnings for fiscal 2026 on Wednesday, citing higher operating and finance costs due to an increase in investments and total borrowings.
AGL, one of Australia's top power producers, expects its underlying profit to be between A$500 million ($326.35 million)and A$700 million for the ongoing financial year, the midpoint of which is lower than the Visible Alpha consensus estimate of A$667.8 million.
For the year ended June 30, it reported underlying earnings of A$640 million, missing the Visible Alpha estimate of A$653.2 million.
AGL, which is also one of the country's top carbon emitters, declared a final dividend of 25 Australian cents per share, lower than the 35 Australian cents apiece it declared last year.
($1 = 1.5321 Australian dollars)
