Shell Closes Out 2018 on a Strong Note; Shares Remain Undervalued
Shell closed out 2018 by reporting better-than-expected fourth-quarter results, including strong earnings and cash flow growth. Most notable was the cash flow, which increased to $22.0 billion from $7.3 billion a year ago. Shell’s cash flow generation has been plagued all year by increases in working capital and margin requirements for hedging contracts for the integrated gas portfolio, but both turned to a tailwind during the fourth quarter, to the tune of $9.1 billion and $1.9 billion, respect...
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