Shell plc (SHEL) Misses Q3 EPS by 93c; offers outlook

Shell plc (NYSE: SHEL) reported Q3 EPS of $0.93, $0.93 worse than the analyst estimate of $1.86. Revenue for the quarter came in at $76.35 billion versus the consensus estimate of $83.75 billion.

OUTLOOK

Cash capital expenditure for full year 2023 is expected to be within ~$23 - $25 billion.
Integrated Gas production is expected to be approximately 870 - 930 thousand boe/d. LNG liquefaction
volumes are expected to be approximately 6.7 - 7.3 million tonnes. Outlook reflects ongoing maintenance at
Prelude and lower expected liquefaction volumes from Egypt.
Upstream production is expected to be approximately 1,750 - 1,950 thousand boe/d. Production outlook reflects
the closure of the Groningen gas field.
Marketing sales volumes are expected to be approximately 2,250 - 2,750 thousand b/d.
Refinery utilisation is expected to be approximately 75% - 83%, due to planned maintenance activities in North America.
Chemicals manufacturing plant utilisation is expected to be approximately 62% - 70%.
Corporate Adjusted Earnings are expected to be a net expense of approximately $550 - $750 million in the fourth
quarter 2023 and a net expense of approximately $2,750 - $2,950 million for the full year 2023. This excludes the
impact of currency exchange rate and fair value accounting effects.

For earnings history and earnings-related data on Shell plc (SHEL) click here.

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