While largely above consensus, the comments made around the pace of the buy-back programme / deleveraging have been the focus of the release. The current macro stresses Shell’s ability to complete the buy-back programme if it wants to prioritise its balance sheet. We believe the buy-back programme should be seen as what it is: an indexation on higher fundamentals. For a more predictable income, the dividend plays this role.
31 Oct 2019
Q3: strong earnings, overshadowed by cautious outlook on buy-back
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Q3: strong earnings, overshadowed by cautious outlook on buy-back
Shell Plc (SHEL:LON) | 2,828 -381.8 (-0.5%) | Mkt Cap: 181,180m
- Published:
31 Oct 2019 -
Author:
Kevin VO -
Pages:
3
While largely above consensus, the comments made around the pace of the buy-back programme / deleveraging have been the focus of the release. The current macro stresses Shell’s ability to complete the buy-back programme if it wants to prioritise its balance sheet. We believe the buy-back programme should be seen as what it is: an indexation on higher fundamentals. For a more predictable income, the dividend plays this role.