Australia's Ampol rises after Morningstar lifts annual earnings outlook on refinery windfall

Ampol

03/08/2026 01:24

Updates
** Shares of Australia's Ampol ALD.AX rise as much as 1.1% to A$40.34, extending gains to a fifth straight session
** Morningstar analysts raise their 2026 earnings forecasts for the refined fuel retailer, but warn markets may be crediting Middle East gains 
** On Thursday, Ampol reported threefold increase in its second-quarter Lytton refinery margins, as tightened crude supplies amid the Middle East conflict reduced refinery activity and drove up fuel margins
** Investment research firm Morningstar increases its 2026 earnings per share forecast by 77% to A$5.04 ($3.54)
** However, Morningstar says "such levels should not be expected to persist" and forecasts 2027 earnings per share much lower, at A$2.28
** "Shares are up more than 40% since February and, in our view, are overvalued" - Morningstar
** YTD, stock up 18.13%, including day's moves

 ($1 = 1.4243 Australian dollars)


 (Reporting by Shruti Agarwal and Aamir Sheik Khalid in Bengaluru; Editing by Bill Berkrot)
 ((Shruti.Agarwal@thomsonreuters.com;
Aamir.SheikKhalid@thomsonreuters.com))