Royal Dutch Shell disappointed with the third-quarter earnings
The Anglo-Dutch oil company revealed adjusted earnings of $4.1 billion, falling behind the $6 billion expected by analysts. The figures came significantly higher than $955 million reported in the same quarter last year but lower than the $5.5 billion announced for Q2 2021. Dividends came in at 24 cents per share, unchanged from the previous quarter.
On the matter, CEO Ben van Beurden stated: “This quarter we’ve generated record cash flow, maintained capital discipline and announced our intention to distribute $7 billion to our shareholders from the sale of our Permian assets.”
In addition, Royall Dutch Shell plans to cut absolute emissions from its operations and electricity by half by the end of the decade compared to 2016 levels. It is looking to have net-zero carbon emissions by 2050.
Following the report, Shell share price dipped 3% during the London trading hours. Since the beginning of the year, the stock price added 41%.