Report
Allen Good, CFA
EUR 101.80 For Business Accounts Only

Shell’s Earnings Show Little Improvement, but Cash Flow Growth Demonstrates Its on Right Track

Shell reported weak headline fourth-quarter adjusted earnings of $1.8 billion, a modest improvement from 2015 fourth-quarter earnings of $1.6 billion. While the upstream segment returned to profitability, weakness in the integrated gas and downstream segment hampered results. The inclusion of BG’s results continues to muddy the comparison of earnings from prior periods, benefiting the upstream segment with higher production volumes but negatively impacting integrated gas through higher depreciat...
Underlying
Royal Dutch Shell Plc Class A

Royal Dutch Shell is a holding company. Through its subsidiaries, Co. is engaged in the oil and gas industry. Co. reports its business through four segments: Integrated Gas, which engaged in the liquefaction and transportation of gas and the conversion of natural gas to liquids to provide fuels and other products; Upstream, which engaged in the exploration for and extraction of crude oil, natural gas and natural gas liquids; Downstream, which engaged in oil products and chemicals manufacturing and marketing activities; and Corporate, which comprising Co.'s holdings and treasury organisation, its self-insurance activities and its headquarters and central functions.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Allen Good, CFA

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