Shell Swings to 4Q Net Loss, Performance Misses Expectations
February 04 2021 - 2:46AM
Dow Jones News
By Jaime Llinares Taboada
Royal Dutch Shell PLC on Thursday posted a loss for the fourth
quarter of the year, and its underlying performance was worse than
expected.
The Anglo-Dutch oil-and-gas major booked a net loss of $4.01
billion for the three months to Dec. 31, swinging from a $489
million profit in the third quarter and a $965 million profit in
the fourth quarter of 2019. The full-year loss was $21.68 billion,
compared with a $15.84 billion profit in 2019.
Fourth-quarter adjusted earnings on a current cost of supplies
basis came in at $393 million, down from $955 million in the third
quarter and below the market consensus of $597 million, taken from
Vara Research and based on 25 analysts' forecasts. The metric is a
figure similar to the net income that U.S. oil companies report,
but strips out exceptional items.
Shell declared a quarterly dividend of $0.1665, bringing the
full-year payment to $0.653--down from $1.88 in 2019.
Net debt as at the end of the year was $75.4 billion. Shell has
a target to reduce net debt to $65 billion before distributing
20%-30% of cash flow from operations to shareholders through
dividends and share buybacks.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
February 04, 2021 02:31 ET (07:31 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Royal Dutch Shell (LSE:0LN9)
Historical Stock Chart
From Aug 2024 to Sep 2024
Royal Dutch Shell (LSE:0LN9)
Historical Stock Chart
From Sep 2023 to Sep 2024