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Shell Beats Estimates Amid $1.9 Billion Writedown on Gas
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Royal Dutch Shell Plc, Europe’s biggest oil company, beat analysts’ second-quarter earnings estimates while pushing ahead with a restructuring program that saw it write off about $1.9 billion in U.S. gas assets.
Profit excluding one-time items and inventory changes gained 33 percent to $6.1 billion from $4.6 billion a year earlier partly on higher U.S. energy prices, The Hague-based Shell said today in a statement. That beat the $5.6 billion average estimate of 18 analysts surveyed by Bloomberg.