Seplat Energy posts N52.5bn profit in Q1 2026 despite revenue dip
Seplat Energy Plc has released its financial results for the first quarter of 2026. The company reported a post-tax profit of N52.5 billion, an increase from N35.3 billion in the same period last year. Shareholders will also receive a combined dividend of US9 cents per share. The company’s revenue for Q1 2026 reached N1.16 trillion, a 5.22% drop from N1.22 trillion in Q1 2025. Crude oil sales remained the dominant revenue source, accounting for 88.70% or N1.03 trillion of the total.
Operating profit fell to N295.4 billion, down from N361.2 billion in the previous year. Pretax profit also declined, settling at N229.1 billion compared to N314.6 billion in Q1 2025. Despite this, post-tax profit rose to N52.5 billion, up from N35.3 billion in 2025.
Earnings per share improved to N77.95, a significant jump from N52.14 in the same quarter last year. Retained earnings grew to N389.1 billion, an increase from N342.4 billion in Q1 2025.
The board declared an interim dividend of US5 cents per share and a special dividend of US4 cents, totalling US9 cents. At the current exchange rate of N1,375.13, this amounts to N124 per share. Seplat Energy’s Q1 2026 results show a mixed performance, with higher post-tax profits and earnings per share despite lower revenue and operating profits. The declared dividend of US9 cents per share will provide returns to shareholders in the coming months.
