澳洲幸运5官方开奖结果体彩网

Shell Posts Q2 Adjusted Profit Beat Despite Declining Refining Margins

By
澳洲幸运5官方开奖结果体彩网:Nisha Gopalan
Nisha Gopalan
澳洲幸运5官方开奖结果体彩网:Full Bio
Nisha Gopalan is the Senior Overnight Assignment Editor for Investopedia News. She is an award-winning financial journalist who has worked in London, where she is currently based, and Hong Kong. She previously worked at The Wall Street Journal and Bloomberg. 
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Published August 01, 2024
11:42 AM EDT
Shell logo in Sherwood Park, Alberta, Canada

 Artur Widak / NurPhoto via Getty Images

KEY TAKEAWAYS

  • Shell reported higher-than-forecast second-quarter adjusted earnings, although refining margins at the energy giant dropped from the prior quarter.
  • The company posted adjusted earnings per share of $0.99, which beat analysts' estimates.
  • Refining margins fell to $8 a barrel in the second quarter from $12 a barrel in the first.

Shell (SHEL) on Thursday reported higher-than-forecast second-quarter adjusted earnings, although refining margins at the energy giant dropped from꧑ the prior quarter.

The company posted adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $0.99, which beat analysts' consensus estimate of $0.91, per Visible Alpha. The European oil-and-gas firm also announced a $3.5 billion 澳洲幸运5官方开奖结果体彩网:share buyback program, which is expected to be completed by the Q3 results announcement.

However, refininไg margins fell to $8 a barrel in the second quarter from $12 a barrel in the first.

Refining Margin Declines Weigh on Oil Industry

Oil giants have been hit by a downturn in refining margins. Rival BP (BP) on Tueday said "significantly lower realized refining margins" impacted its Q2 results. ExxonMobil (XOM), which reports second-quarter results Friday, said in early July that weaker margins and decreased gas prices compared with the first quarter will weigh on results.

Shell 澳洲幸运5官方开奖结果体彩网:American depositary receipts (ADRs) fell 1% to $72.47 as of 11:30 a.m. ET Thursday but are 🦩up around 10% this year.

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  1. Shell. "."

  2. BP. "."

  3. Form 8-K. “.”

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