Australia's Beach Energy rises for second day after strong FY results

Beach Energy

05/08/2025 04:58

** Shares of oil and gas co Beach Energy BPT.AX rise as much as 3.8% to A$1.225, its highest level since July 30

** Shares gain for second straight day after posting 32% y/y jump in FY underlying NPAT; FY revenue grows 13%

** Jarden notes co's larger-than-expected final dividend of 6 Australian cents per shares, double the Visible Alpha consensus of 3 AU cents apiece

** However, Jarden cuts PT to A$1.07 from A$1.10, retains 'underweight' rating

** Brokerage flags uncertainty surrounding the ramp up of its Waitsia project and flooding at its Cooper Basin

** The midpoint of co's FY26 capex guidance of A$675 million($435.92 million)- A$775 million is nearly A$75 million below Jarden's estimates

** 15 analysts rated 'hold' on avg, median PT is A$1.23 - LSEG data

** YTD, BPT down 12.9%

($1 = 1.5485 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com))