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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Royal Dutch Shell plc    RDSA   GB00B03MLX29

ROYAL DUTCH SHELL PLC

(RDSA)
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Shell 2Q Adjusted Profit Beat Expectations -- Earnings Review

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07/30/2020 | 07:14am EDT

By Jaime Llinares Taboada

 

Royal Dutch Shell PLC reported results for the second quarter on Thursday. Here's what you need to know:

 

ADJUSTED CCS EARNINGS: The British-Dutch oil giant made an adjusted profit on a current cost of supply basis of $638 million. This was down 82% from a year earlier, as the pandemic hit demand and prices, but better than the consensus estimate of a $674 million adjusted loss--taken from the company's website and based on 23 forecasts. However, analysts said the outperformance was partially driven by the relatively unpredictable trading division.

 

WHAT WE WATCHED:

--DIVIDEND: As expected, Shell cut the dividend to $0.16 from $0.47, as it had done three months ago. However, Russ Mould from AJ Bell points out that Shell remains the third largest dividend payer in the FTSE 100 index.

--IMPAIRMENTS: The company's headline results were significantly hit by a $16.8 billion impairment relative to lowered medium- and long-term price expectations. This was toward the lower end of the $15 billion-$22 billion range previously provided by the oil major.

--COST SAVING PROGRESS: Shell cut underlying operating expenses by $2.23 billion to $18.34 billion in the first half of the year, and is therefore on track to meet its target of reducing 2020 operating costs by $3 billion-$4 billion. In addition, capital expenditure declined 21% to $8.59 billion in the period. The company has pledged to decrease 2020 capital expenditure to $20 billion or below.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

Stocks mentioned in the article
ChangeLast1st jan.
AJ BELL PLC 1.34% 453 Delayed Quote.4.20%
LONDON BRENT OIL 2.02% 45.38 Delayed Quote.-31.89%
ROYAL DUTCH SHELL PLC 1.77% 14.01 Delayed Quote.-47.39%
WTI 2.66% 42.59 Delayed Quote.-31.52%
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Financials (USD)
Sales 2020 233 B - -
Net income 2020 -5 990 M - -
Net Debt 2020 74 593 M - -
P/E ratio 2020 80,9x
Yield 2020 3,96%
Capitalization 122 B 123 B -
EV / Sales 2020 0,84x
EV / Sales 2021 0,67x
Nbr of Employees 83 000
Free-Float 99,8%
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Technical analysis trends ROYAL DUTCH SHELL PLC
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 21,05 $
Last Close Price 16,16 $
Spread / Highest target 110%
Spread / Average Target 30,3%
Spread / Lowest Target -41,3%
EPS Revisions
Managers
NameTitle
Bernardus Cornelis Adriana Margriet van Beurden Chief Executive Officer & Executive Director
Charles Otis Holliday Chairman
Jessica Rodgers Uhl Chief Financial Officer & Director
Harry Brekelmans Director-Technology & Projects
Gerard Johannes Kleisterlee Deputy Chairman
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1st jan.Capitalization (M$)
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TOTAL SE-30.51%105 786
GAZPROM-25.25%62 082
PETRÓLEO BRASILEIRO S.A. - PETROBRAS-23.53%56 390