Santos has reported a 35 per cent drop in full-year profit, with softer oil and gas prices offsetting a modest increase in production. The oil and gas producer, which was the subject of a $36 billion takeover bid led by Abu Dhabi’s state oil company that was later abandoned, announced a net profit of $US818 million ($1.55 billion) for the 12 months ending December 31. This represents a decrease from $US1.26 billion in the previous year. Santos is an Australian energy company focused on the exploration, development, and production of oil and gas. It supplies these resources to homes, businesses, and major industries across Australia and Asia.
Profit before one-time items, a key metric closely monitored by the market, experienced a 25 per cent decline, falling to $US898 million from $US1.2 billion. Despite the profit downturn, Santos has declared a final dividend of US10.3¢ per share.
This brings the full-year payout to US23.7¢, slightly exceeding consensus expectations of US23.4¢. This suggests a commitment to shareholder returns despite challenging market conditions.
Looking ahead, Santos has maintained its guidance for production and capital expenditure in 2026, signalling stability in its operational outlook.
