Origin Energy Limited (ASX: ORG) provided an update regarding its earning guidance and operational conditions for FY23. For FY23, the company anticipates energy markets underlying EBITDA to be in the range of AU$600 million to AU$730 million, increasing from AU$500 million to AU$650 million.
The increase in Energy Markets Underlying EBITDA guidance is driven by an anticipated increase in natural gas and electricity gross profit due to good operating and trading performance and improved coal delivery under legacy contracts. The company said that the outlook for the LNG trading business has improved, resulting in a further AU$140 million to AU$180 million of LNG trading EBITDA. Earlier, LNG trading EBITDA for FY23 and FY24 was anticipated to be marginally positive and is now projected to be AU$40 million to AU$80 million. FY25 LNG trading EBITDA was anticipated to be in the range of AU$350 to AU$450 million and is now expected to be AU$450 million to AU$650 million across FY25 and FY26.
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