AGL Energy (ASX:AGL) has released its financial results for the first half of the 2026 fiscal year, showcasing a period of operational stability balanced against significant statutory headwinds.
For the six months ended Dec. 31, 2025, the company reported an underlying EBITDA of $1.1 billion, remaining flat compared to the previous year.
However, underlying net profit after tax saw a slight dip of 6%, landing at $353 million.
Shareholders are set to receive a fully franked interim dividend of 24 cents per share.
The company reported statutory profit of $94 million, which was heavily impacted by a $143 million loss on the fair value of financial instruments and $116 million in significant items, primarily driven by retail transformation costs ($45 million) and increased onerous contract provisions ($42 million).
Despite these charges, CEO Damien Nicks expressed confidence in the company’s trajectory, attributing the result to "excellent operational performance" and improved customer margins.
Nicks highlighted the role of AGL's battery portfolio in mitigating low price volatility within the National Electricity Market.
Looking ahead, AGL has narrowed its FY26 earnings guidance, now forecasting an Underlying EBITDA between $2 billion and $2.2 billion.
The company is also pivoting toward leaner operations, targeting $50 million in sustainable net operating cost reductions by FY27.
This "cost out" program signals a strategic shift toward long-term efficiency as the energy provider navigates a transitioning Australian market.