Trending: Shell Beat Forecasts for a Third Time in a Row
1257 GMT - Shell is among the most mentioned companies across news items over the past seven hours, according to Factiva data, after the British energy giant beat forecasts for second-quarter earnings. Shell, Europe's biggest oil-and-gas company, logged $6.29 billion in adjusted earnings in the quarter, ahead of a consensus forecast of $6.01 billion, based on a Vara Research poll. It also increased its free cash flow and cut its net debt, supporting a pledge to buy back $3.5 billion worth of shares in the third quarter. However, its profit measured on a current cost of supplies basis--a figure similar to the net income that U.S. oil companies report--nearly halved on quarter to $3.75 billion, weighed by lower liquefied-natural-gas trading and refining margins. Still, compared with the second quarter last year, profit rose 7.4%. Dow Jones & Co. owns Factiva. (christian.moess@wsj.com)
(END) Dow Jones Newswires
August 01, 2024 09:12 ET (13:12 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
3 Dividend Stocks for October 2024
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
United States