Reports Earnings: Europe’s largest oil company Royal Dutch Shell plc reported earnings per ADS (on a current cost of supplies basis, excluding items – the market’s preferred measure) of 16 cents. This compares with the Zacks Consensus Estimate of a loss of 31 cents.
Estimate Revision Trend & Surprise History: Notably, the Zacks Consensus Estimate for bottom line was revised 6.9% downward in the last 7 days.
Over the trailing four quarters, the company surpassed the Zacks Consensus Estimate on two occasions and missed in the other two, the surprise being 7.13%, on average. This is shown in the chart below:
Revenue Plunges: Revenues of $32.5 billion were 64.6% below the second-quarter 2019 sales of $91.8 billion.
Key Stats: Upstream segment recorded a loss of $1.5 billion (excluding items) during the quarter, compared to the profit of $1.3 billion (adjusted) achieved in the year-ago period. Shell’s upstream volumes averaged 2,415 thousand oil-equivalent barrels per day (MBOE/d), down 7% from the year-ago period. At $24.31 per barrel, the group’s worldwide realized liquids prices were 60% below the year-earlier levels while natural gas prices were down 24%.
In the Oil Products segment, the Anglo-Dutch super-major reported adjusted income of $2.4 billion, 89% more than the year-ago period.
The Integrated Gas unit reported adjusted income of $362 million, down 79% from the $1.7 billion in April-June quarter of 2019.
Meanwhile, the Chemicals segment recorded a profit of $206 million (excluding items) during the quarter, up 56% from the $132 million (adjusted) achieved in the year-ago period.
The oil major’s operating cash flow slumped 77% from the year-earlier level to $2.6 billion.
Zacks Rank: Currently, Royal Dutch Shell carries a Zacks Rank #2 (Buy).
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Royal Dutch Shell earnings report later!
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Reports Earnings: Europe’s largest oil company Royal Dutch Shell plc reported earnings per ADS (on a current cost of supplies basis, excluding items – the market’s preferred measure) of 16 cents. This compares with the Zacks Consensus Estimate of a loss of 31 cents.
Estimate Revision Trend & Surprise History: Notably, the Zacks Consensus Estimate for bottom line was revised 6.9% downward in the last 7 days.
Over the trailing four quarters, the company surpassed the Zacks Consensus Estimate on two occasions and missed in the other two, the surprise being 7.13%, on average. This is shown in the chart below:
Revenue Plunges: Revenues of $32.5 billion were 64.6% below the second-quarter 2019 sales of $91.8 billion.
Key Stats: Upstream segment recorded a loss of $1.5 billion (excluding items) during the quarter, compared to the profit of $1.3 billion (adjusted) achieved in the year-ago period. Shell’s upstream volumes averaged 2,415 thousand oil-equivalent barrels per day (MBOE/d), down 7% from the year-ago period. At $24.31 per barrel, the group’s worldwide realized liquids prices were 60% below the year-earlier levels while natural gas prices were down 24%.
In the Oil Products segment, the Anglo-Dutch super-major reported adjusted income of $2.4 billion, 89% more than the year-ago period.
The Integrated Gas unit reported adjusted income of $362 million, down 79% from the $1.7 billion in April-June quarter of 2019.
Meanwhile, the Chemicals segment recorded a profit of $206 million (excluding items) during the quarter, up 56% from the $132 million (adjusted) achieved in the year-ago period.
The oil major’s operating cash flow slumped 77% from the year-earlier level to $2.6 billion.
Zacks Rank: Currently, Royal Dutch Shell carries a Zacks Rank #2 (Buy).
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Royal Dutch Shell earnings report later!
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>