Origin Energy, Australia's energy company, beats its annual profit expectations on the energy market gains

Australia's?Origin Energy reported a?full year underlying profit on Thursday that was slightly above analysts' expectations.

The second largest power producer in the country reported an underlying profit for the year ended June 30 of A$1.16 Billion ($818.96 Million), below the A$1.49 Billion a year ago but ahead of Visible Alpha's consensus estimate of A$1.14 Billion.

The earnings of Origin's integrated division, which is largely its?share in the Australia Pacific LNG project (APLNG)?in Queensland?, dropped?26% compared to a year earlier, hurt by lower LNG output and weak realized prices.

The segment's earnings grew by 21%, to A$1,70 billion. This was due to a combination of higher retail electricity prices and a resilient volume of electricity sales.

The midpoint is in line with the company's 2026 earnings but above the Visible Alpha consensus estimate A$1.61 billion.

Origin announced a final 'dividend' of 30 Australian cents per share. This is the same as it was last year. ($1 = 1.4164 Australian dollars) (Reporting by Shruti Agarwal in Bengaluru; Editing by Shreya Biswas)

(source: Reuters)