(MENAFN- ProactiveInvestors) Shell’s results last week offered the first insight into what the results season is going to be like for oil firms and maybe more importantly how the companies are going to approach the new world of lower crude prices.
will announce full-year figures on Tuesday. Like its rivals the oil giant is taking steps to address the low oil price environment by freezing salary rises and cutting back on exploration expenditure.
“Broadly speaking the fundamentals of ’s business are still in good shape” said David Madden of spread betting firm . “The company’s refinery business is picking up the slack from the exploration division.”
Still the company’s Russian unit is holding the group back. Western-imposed sanctions on Russia have pushed the economy into recession and crippled the rouble.
owns a 20% stake in and third-quarter net income declined by 86% at the Russian subsidiary.
Meanwhile the final verdict over the Gulf of Mexico disaster still hangs over the company.
Shares in have been plagued by the Gulf of Mexico incident since 2010 but a recent court ruling indicated that the related fine will be smaller than initially thought.
According to estimates seen by the consensus is for revenue of US$348bln and adjusted net profit of US$12.2bln.
These estimates equate to an 8% decline in revenue and a 9.7% drop in adjusted net profit.
The company will also reveal its fourth-quarter figures on the same date where traders are anticipating revenue of US$80.7bln and adjusted net profit of US$1.91bln.
In its last update emerging market focused fund management group was a little more confident regarding its markets outlook says Sheridan Admans investment research manager at The Share Centre.
“Investors will be hoping that the outflow of funds has continued to moderate. Furthermore any update on plans for its cash pile will be of interest. As always future predictions for emerging markets will be closely followed” Admans observed.Significant announcements expected
Finals: () () Group ()
Interims: () Group () NWF Group ()
Trading statements: ()
Economic announcements: Purchasing Managers’ Indices for manufacturing covering China (Markit and official) Eurozone (Markit) US (Markit and ISM) and various worldwide.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.