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How did the Woodside (ASX:WPL) share price go last earnings season?

How did the company’s shares perform following its FY20 full-year results?
The post How did the Woodside (ASX:WPL) share price go last earnings season? appeared first on The Motley Fool Australia. –

The Woodside Petroleum Ltd (ASX: WPL) share price has been moving in circles in recent times.

So far on Monday, there’s been no change to Friday’s market closing price of $22.19 a share, a 0.77% rally. However, despite the gain, the company’s shares are still around 5% lower over the past month.

Below, we take a closer look to see what we can learn from the Woodside share price performance last earnings season.

What happened in FY20?

In mid-February 2021, Woodside delivered its FY20 full-year results to the ASX, reporting mixed numbers across key metrics.

Here’s a quick summary of the highlights mentioned in the company’s FY20 release:

Record full-year production output of 100.3 million barrels of oil equivalent (boe)

Operating revenue dropped 26% to US$3,600 million on the back of lower volume-weighted average price of boe

Net loss after tax of US$4,028 million, driven by non-cash impairments and onerous contract provisions

Final dividend of US$0.12 cents per share, bringing the full-year FY20 dividend to US$0.38 cents per share, down 58% year-on-year.

As a whole, investors were disappointed with Woodside’s performance, sending its shares from $25.96 on 17 February to $23.53 in the days following.

However, the Woodside share price slump was short-lived, quickly rebounding back to above the $25 mark in late February. It was only from mid-April that its shares really started to sink lower after Woodside’s CEO succession.

What should investors look out for this earnings season?

With Woodside scheduled to report its FY21 half-year results tomorrow, Tuesday 17 August, investors may be wondering what to expect.

According to Goldman Sachs, its team of analysts are forecasting a robust result for the start of the 2021 financial year.

Woodside is expected to report 46.3 million boe for H1 FY21, down 7.5% on the record prior corresponding period of 50.1 million boe.

However, total sales revenue is projected to soar to US$2,406 million, representing a 30.5% increase on H1 FY20 (US$1,844 million). This is underpinned by realised pricing of boe to US$53.10, a 42.4% jump from the comparable period (US$37.30 boe).

Woodside is anticipated to register operating revenue of US$2,493 million, up from US$1,907 million in H1 FY21.

On the bottom line, underlying Net Profit After Tax (NPAT) is predicted to come in at US$485 million. This is a 60% improvement from the US$303 million achieved in the prior corresponding period.

The company is estimated to pay an interim dividend of US$0.40 cents per share, up from US$0.26 cents per share in H1 FY20.

Woodside share price snapshot

In 2021, the Woodside share price has continued to move sideways, reflecting a 2.4% loss for the period. This is a far cry from when the company’s shares were trading almost 60% higher than today’s price in January 2020.

Woodside commands a market capitalisation of around $21.3 billion, making it the 19th largest company on the ASX.

The post How did the Woodside (ASX:WPL) share price go last earnings season? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras owns shares of Woodside Petroleum Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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