Description
Shell produced a mixed set of results in the quarter, meeting the revenue expectations of Wall Street but missing out on earnings. The company’s working capital situation has improved significantly and working capital was a substantial cash inflow in the quarter. The safety performance was decent. The improved cash flow position in the quarter enabled Shell to enhance its distributors to shareholders. The balance between comprehensive energy demand and supply stays extremely tight. The company continues to leverage and extend its strong market position in LNG. We provide the stock of Shell with a ‘Hold’ rating and a revised target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures
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