Ampol (ALD) Q1 2026 TU earnings summary

Executive summary

• Achieved strong, broad-based performance in Q1 2026, with continued momentum from FY25.

• Maintained stable consumer and commercial demand in Australia and New Zealand despite cost escalations.

Financial highlights

• Lytton Refiner Margin (LRM) reached US$25.45/bbl in Q1 2026, boosted by global margin uplift in March.

• Total refinery production rose 10% year-over-year to 1,434 million litres.

• Australian fuel sales (ex Net-sell) increased 4.7% year-over-year.

• Group total sales volume was 6,125 ML, down 0.3% year-over-year.

Outlook and guidance

• Crude and product supply secured through at least end of May 2026, crude into July 2026.

• Entered Q2 with strong momentum and a well-positioned hedge book to mitigate volatility.

• Refiner margins remain elevated, but landed crude costs have increased.