Higher Commodity Prices Support Expectations for Shell's Q3 Results
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Shell is expected to post a stronger third quarter as higher commodity prices support analyst expectations, with consensus estimates calling for earnings of $3.67 per share and revenue of $100.86 billion. The earnings estimate is 97.3% above the year-earlier level, while revenue is projected to rise 48%. Both figures are forecasts, not reported results. Shell's third-quarter operating outlook includes an indicative refining margin of $42 per barrel, up from $24 in the second quarter. The company projected refinery utilization of 93% to 97%, compared with 102%, and a chemicals margin of $208 per tonne, down from $270.
Source: TokenPost
