Shell’s results outshone those of rivals ExxonMobil, Chevron and BP, which all saw sharp declines in profits in the first three months of 2019
On Thursday, Royal Dutch Shell reported a small drop in first-quarter profit to $5.4bn, but still easily beat forecasts, helped by stronger trading and liquefied natural gas earnings.
Cash generation, which the Anglo-Dutch company has flagged as a key measure of its growth in the past, sagged 9% to $8.6bn as a result of one-off charges. “Overall this was a strong set of results, backed up by solid cash flow delivery in the quarter,” Berenberg analyst Henry Tarr said. Shell’s integrated gas business saw a 65% rise in cash generation to $4.2bn as LNG trading helped offset a 6% decline in sales volumes.
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