An Earnings Beat: Europe’s largest oil company Royal Dutch Shell (LON:) plc (RDS.A) reported earnings per ADS (on a current cost of supplies basis, excluding items — the market’s preferred measure) — of $1.42, above the Zacks Consensus Estimate of $1.31.
Estimate Revision Trend & Surprise History: The Zacks Consensus Estimate for second-quarter bottom line has been revised 7.4% upward in the last seven days.
Royal Dutch Shell beat the Zacks Consensus Estimate in three of the last four quarters and missed in the other, delivering an earnings surprise of 153.56%, on average. This is depicted in the graph below:
Royal Dutch Shell PLC Price and EPS Surprise
Royal Dutch Shell PLC price-eps-surprise | Royal Dutch Shell PLC Quote
Revenue Soars: Revenues of $61.8 billion surged 90.1% from the second-quarter 2020 sales of $32.5 billion.
Key Stats: Upstream segment recorded a profit of $2.5 billion (excluding items) during the quarter, turning around from a loss of $1.5 billion (adjusted) reported in the year-ago period. Shell’s upstream volumes averaged 2,262 thousand oil-equivalent barrels per day (MBOE/d), down 6.3% from the year-ago period. At $62.53 per barrel, the group’s worldwide realized liquids prices were 155.2% above the year-earlier levels while prices were up 123.3%.
In the Oil Products segment, the Anglo-Dutch super-major reported adjusted income of $1.3 billion, 46.1% lower than the year-ago period.
The Integrated Gas unit reported adjusted income of $1.6 billion, jumping from the $362 million in April-June quarter of 2020.
Meanwhile, the Chemicals segment recorded a profit of $670 million (excluding items) during the quarter, compared to the year-ago earnings of $206 million.
The oil major’s operating cash flow rocketed 392.3% from the year-earlier level to $12.6 billion.
Dividend & Buyback: Royal Dutch Shell boosted its quarterly dividend by 38.3% to 24 cents per share and launched a $2 billion stock repurchase program.
Zacks Rank: Currently, Royal Dutch Shell carries a Zacks Rank #3 (Hold).
(You can see the complete list of today’s Zacks #1 Rank stocks here.)
Check back later for our full write up on this Royal Dutch Shell earnings report later!
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