The results came in above expectations as previously mentioned on clean income and, in our view, the quality of the earnings are better as upstream takes over from downstream again. However, cash flow from operations came in lower than the market had expected and the explanations weren’t straightforward as a couple of issues are difficult to assess. Cash flow is still the focus for the market despite the lower debt of oil companies.
05 Feb 2018
Disappointing cash flow generation, downstream fading
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Disappointing cash flow generation, downstream fading
Shell Plc (SHEL:LON) | 2,852 270.9 0.3% | Mkt Cap: 182,685m
- Published:
05 Feb 2018 -
Author:
Alexandre Andlauer -
Pages:
4
The results came in above expectations as previously mentioned on clean income and, in our view, the quality of the earnings are better as upstream takes over from downstream again. However, cash flow from operations came in lower than the market had expected and the explanations weren’t straightforward as a couple of issues are difficult to assess. Cash flow is still the focus for the market despite the lower debt of oil companies.