Caltex (ASX:CTX) expects its half year 30 June 2019 replacement cost operating profit (RCOP) NPAT to be $156 million less than the same time last year’s result.
Caltex says amid the difficult economic environment its NPAT outlook guidance is now tipped to be between $120 million to $140 million, down from $296 million for the 2018 half year.
Caltex says this is reasonable amid slowing Australian growth, lower refining margins and high crude prices, combined with a low FX rate.
Its group replacement cost operating profit (RCOP) EBIT is also expected to drop from $443 million notched in the half year ending 30 June 2018, to now be between $240 - $270 million, that’s about a $173 million drop.
The EBIT drop takes the $40 million negative impact into consideration, from the repriced Woolworths fuel supply contract.
Shares in Caltex Australia (ASX:CTX) are trading 17.6 per cent lower at $22.23.