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Lukoil Pretax Profit Beats Estimates Even as Net Tumbles

  • Free cash flow reached $2 billion in first nine months of year
  • Company in `excellent' position to keep dividend, analyst says
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Lukoil PJSC reported pretax earnings that beat analyst estimates, helping buoy the shares even as net income slumped.

Earnings before interest, taxes, depreciation and amortization totaled $3.65 billion in the third quarter, exceeding the $3.24 billion average estimate of 10 analysts surveyed by Bloomberg. The Moscow-based company reported free cash flow of $2 billion for the first nine months of the year.