Beach Energy's Share Price Falls on Lackluster Output Guidance
Dow Jones
Aug 06
0049 GMT - Beach Energy's mini share-price rally over the past month is snuffed out by FY 2027 guidance that misses the mark. Beach falls 3.9% to A$0.855, pitching it back toward nine-year lows. Beach is targeting output of between 19.5 million and 23.0 million barrels of oil equivalent in FY 2027. At the midpoint, that would represent growth of 9.5% on the 19.4 million barrels of oil equivalent produced in FY 2026. Beach also forecast capital expenditure of A$600 million-A$700 million in FY 2027. "Production and cost guidance for FY27 was a modest miss across the board with all costs coming in higher than expectations, and production weaker at the mid-point," says RBC Capital Markets analyst Gordon Ramsay.
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