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Origin Energy shares hit as profits, outlook miss forecasts

Angela Macdonald-Smith
Angela Macdonald-SmithSenior resources writer
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Origin Energy’s profits have jumped almost one-third in the past year, a result which has underwhelmed the market as investors focus on the energy giant’s weaker outlook.

Shares in Origin fell 9.4 per cent on Thursday as analysts labelled the $436 million increase in core profit to $1.18 billion a “miss”, and compared it unfavourably with rival AGL Energy’s better-than-anticipated profit and outlook one day earlier.

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Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com

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    Original URL: https://www.afr.com/companies/energy/origin-reports-profit-surge-but-warns-of-less-promising-year-ahead-20240812-p5k1no