Shell 1Q Earnings Rose More Than Expected
April 29 2021 - 1:49AM
Dow Jones News
By Jaime Llinares Taboada
Royal Dutch Shell PLC on Thursday reported improved earnings for
the first quarter of the year, as oil and gas prices continued
their recovery.
The Anglo-Dutch energy major posted adjusted earnings on a
current cost of supply basis of $3.23 billion in the period, up
from $393 million in October-December and $2.86 billion a year
earlier. This is a metric similar to the net income that U.S. oil
companies report, but strips out exceptional items.
"Compared with the fourth quarter 2020, current quarter adjusted
earnings reflected higher realised oil and LNG prices, chemicals
and refining margins, oil products trading contributions and lower
depreciation," Shell said.
Adjusted CCS earnings came in above the $3.12 billion market
consensus, taken from Vara Research and based on 24 brokers'
estimates.
Shell swung to a net profit of $5.66 billion in the quarter,
from a $4.01 billion loss in 4Q 2020.
The company declared a dividend of $0.1735 a share for the
period, up from $0.1665 in the fourth quarter and $0.16 a year
earlier.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
April 29, 2021 02:34 ET (06:34 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Shell (LSE:SHEL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Shell (LSE:SHEL)
Historical Stock Chart
From Apr 2023 to Apr 2024
