Analysts adjust Woodside's outlook after Q1 miss despite 13% revenue growth

Analysts at Morningstar and Citi adjust Australia's top gas producer Woodside Energy's WDS.AX model after Q1 production and revenue miss vs estimates

WDS posts Q1 revenue of $3.32 billion, up 13% from a year ago

Citi says lower output from its Pluto project in Western Australia and the timing of Sangomar cargoes drove the miss

Citi's adjusted model for WDS shows ~7% lower earnings for CY25, but 3%-5% increase for CY26-27

Morningstar reduces WDS's 2025 earnings per share forecast by 7% to US$1.29 due to weather-related setbacks and softer LNG prices

Morningstar forecasts WDS's 2025 production to reach 195 million barrels of oil equivalent (boe), hitting the upper range of guidance

Five of 13 analysts rate the stock "buy", and 8 "hold"; their median PT is A$26, according to data compiled by LSEG

Stock down 17% this year, as of last close, vs a 17.4% decline in the S&P/ASX 200 index .AXJO