Woodside's Review Outcomes in Focus Following In-Line Result
Dow Jones
Yesterday
0048 GMT - Woodside Energy's 1H result may have been well signaled in advance, but it still created several questions for Jarden. Woodside reported an underlying profit of US$1.33 billion, beating Jarden's estimate by 1%. Analyst Nik Burns expects the focus to be on Woodside's business review. Woodside plans to strip out US$350 million of costs, leading Jarden to seek detail on the composition of that program. Woodside also will carry out a strategic review of its Beaumont New Ammonia project in Texas. Jarden ponders whether this implies the likely sale and exit from the asset. It had an overweight call and A$32.20 price target on Woodside ahead of the result. Woodside is up 2.4% to A$34.29.
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