Shell Tops Profit Estimates on Higher Output and Strong Trading
Shell (NYSE: SHEL) posted consensus-beating earnings for the third quarter as higher oil and LNG production, higher trading profits, and improved refining margins partly offset the decline in oil prices. Shell on Thursday reported adjusted earnings of 6 billion for the same quarter last year, but higher than the company-provided consensus estimate of $5.09 billion. Cash flow generation also beat analysts’ estimates as cash flow from operations (CFFO ...