Adjusted net income is below consensus at $4.1bn, and down 25% qoq, and the adjusted EBITDA is stable at $13.5bn, despite the higher gas and oil prices. All in all, the miss is attributable to Hurricane Ida impacting the adjusted earnings by $0.4bn (e.g. upstream production was down 8% qoq), lower contributions from trading, and adverse one-off tax impacts.
28 Oct 2021
Q3: operational setbacks
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Q3: operational setbacks
Shell Plc (SHEL:LON) | 2,820 -578.1 (-0.7%) | Mkt Cap: 180,667m
- Published:
28 Oct 2021 -
Author:
Kevin VO -
Pages:
3
Adjusted net income is below consensus at $4.1bn, and down 25% qoq, and the adjusted EBITDA is stable at $13.5bn, despite the higher gas and oil prices. All in all, the miss is attributable to Hurricane Ida impacting the adjusted earnings by $0.4bn (e.g. upstream production was down 8% qoq), lower contributions from trading, and adverse one-off tax impacts.