Eneos Holdings Raises Full-Year Profit Forecast by 50 Percent

Eneos Holdings raised its full-year profit forecast by nearly 50 percent on Wednesday, citing stronger crude oil prices and favorable overseas petroleum product markets. The Japanese oil refiner now expects profit attributable to owners of the parent to reach 615 billion yen for the year ending March 2027, up from a previous forecast of 415 billion yen. Operating profit is now projected at 910 billion yen, compared to the earlier estimate of 610 billion yen.

These gains offset 111.8 billion yen in impairment losses within the company's renewable energy business. Eneos attributed those losses to rising interest rates, higher development costs, and weaker cash flow expectations. For the six months ended September, the company reported a 690.6 percent jump in net profit to 511.9 billion yen.

Following these results, the company increased its annual dividend forecast to 38 yen per share, up from 34 yen in the previous fiscal year.