While the earnings were slightly below consensus, the focal point of the release is on the pace of the buyback programme. After sending a cautious statement last quarter, management has reduced the next tranche of the buyback to $1bn (vs. $2.5-2.75bn in the past). Pointing to a synchronised downturn (lower oil, gas prices as well as lower refining and chemical margins) which is below expectations, management is giving the priority to its balance sheet.
30 Jan 2020
Q4: buyback slows down
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Q4: buyback slows down
Shell Plc (SHEL:LON) | 2,898 -347.7 (-0.4%) | Mkt Cap: 185,537m
- Published:
30 Jan 2020 -
Author:
Kevin VO -
Pages:
3
While the earnings were slightly below consensus, the focal point of the release is on the pace of the buyback programme. After sending a cautious statement last quarter, management has reduced the next tranche of the buyback to $1bn (vs. $2.5-2.75bn in the past). Pointing to a synchronised downturn (lower oil, gas prices as well as lower refining and chemical margins) which is below expectations, management is giving the priority to its balance sheet.