Europe’s largest oil company Royal Dutch Shell plc reported first-quarter earnings per ADS (on a current cost of supplies basis, excluding items — the market’s preferred measure) — of 82 cents. The bottom line came in ahead of the Zacks Consensus Estimate of 79 cents and improved from the year-ago profit of 74 cents per ADS.
The outperformance was mainly backed by stronger commodity prices and robust chemical margins.
However, the Hague-based Shell reported revenues of $59.1 billion, which were 3% below first-quarter 2020 sales of $61 billion on lower production and oil products sales volumes.
As per its February announcement, Royal Dutch Shell boosted its quarterly dividend by about 4% to 17.35 cents per share.
Financial Performance
As of Mar 31, 2021, the Zacks Rank #1 (Strong Buy) company, which trimmed its payout for the first time since World War II in April last year, had $31 billion in cash and $102.4 billion in debt (including short-term debt). Net debt-to-capitalization was approximately 29.9%, up from 28.9% a year ago.
You can see the complete list of today’s Zacks #1 Rank stocks here.
During the quarter under review, Shell generated cash flow from operations of $8.3 billion, returned $1.3 billion to its shareholders through dividends and spent $3.9 billion cash on capital projects.
The company’s cash flow from operations fell 44.2% from the year-earlier level. Meanwhile, the group raked in $7.7 billion in free cash flow during the first quarter, down from $12.1 billion a year ago.
Guidance
Shell expects second-quarter 2021 upstream volumes of 2,150-2,350 MBOE/d, while Integrated Gas production is expected between 880 MBOE/d and 940 MBOE/d. The company also foresees Oil Products sales volumes of 4,000-5,000 thousand barrels per day, Chemicals sales volumes of 3,500-3,800 thousand tons and refinery utilization in the range of 73-81%.
Earnings Schedules of Other Oil Supermajors
Among the big integrated players, ExxonMobil (XOM - Free Report) and Chevron (CVX - Free Report) are scheduled to release tomorrow, while continental rival BP plc (BP - Free Report) came up with better-than-expected bottom line numbers earlier this week.
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Europe’s largest oil company Royal Dutch Shell plc reported first-quarter earnings per ADS (on a current cost of supplies basis, excluding items — the market’s preferred measure) — of 82 cents. The bottom line came in ahead of the Zacks Consensus Estimate of 79 cents and improved from the year-ago profit of 74 cents per ADS.
The outperformance was mainly backed by stronger commodity prices and robust chemical margins.
However, the Hague-based Shell reported revenues of $59.1 billion, which were 3% below first-quarter 2020 sales of $61 billion on lower production and oil products sales volumes.
As per its February announcement, Royal Dutch Shell boosted its quarterly dividend by about 4% to 17.35 cents per share.
Financial Performance
As of Mar 31, 2021, the Zacks Rank #1 (Strong Buy) company, which trimmed its payout for the first time since World War II in April last year, had $31 billion in cash and $102.4 billion in debt (including short-term debt). Net debt-to-capitalization was approximately 29.9%, up from 28.9% a year ago.
You can see the complete list of today’s Zacks #1 Rank stocks here.
During the quarter under review, Shell generated cash flow from operations of $8.3 billion, returned $1.3 billion to its shareholders through dividends and spent $3.9 billion cash on capital projects.
The company’s cash flow from operations fell 44.2% from the year-earlier level. Meanwhile, the group raked in $7.7 billion in free cash flow during the first quarter, down from $12.1 billion a year ago.
Guidance
Shell expects second-quarter 2021 upstream volumes of 2,150-2,350 MBOE/d, while Integrated Gas production is expected between 880 MBOE/d and 940 MBOE/d. The company also foresees Oil Products sales volumes of 4,000-5,000 thousand barrels per day, Chemicals sales volumes of 3,500-3,800 thousand tons and refinery utilization in the range of 73-81%.
Earnings Schedules of Other Oil Supermajors
Among the big integrated players, ExxonMobil (XOM - Free Report) and Chevron (CVX - Free Report) are scheduled to release tomorrow, while continental rival BP plc (BP - Free Report) came up with better-than-expected bottom line numbers earlier this week.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>
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 >>
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