Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Deep Fundamental Analysis

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Equity Bottom-Up

<ul>
<li>Shell’s Q4 2024 revenue and EPS are expected to decline 21.9% YoY and 35.1%, respectively. For fiscal 2024, forecasts project a 4.8% revenue drop and a 7.4% EPS decline.</li>
<li>Shell anticipates a USD 1.3 billion Q4 charge for emissions certificates and biofuel programs, alongside non-cash post-tax impairments ranging from USD 1.5 billion to USD 3 billion.</li>
<li>Shell forecasts flat refining margins at USD 5.5/bbl but a 16% QoQ drop in chemical margins to USD 138/tonne.</li>
</ul>


Shell’s Q4 2024 revenue and EPS are expected to decline 21.9% YoY and 35.1%, respectively. For fiscal 2024, forecasts project a 4.8% revenue drop and a 7.4% EPS decline.
Shell anticipates a USD 1.3 billion Q4 charge for emissions certificates and biofuel programs, alongside non-cash post-tax impairments ranging from USD 1.5 billion to USD 3 billion.
Shell forecasts flat refining margins at USD 5.5/bbl but a 16% QoQ drop in chemical margins to USD 138/tonne.


[Earnings Preview] Lower Gas Output and Tight Margins Hit Shell’s Q4 Outlook

Shell PLC

[Earnings Preview] Lower Gas Output and Tight Margins Hit Shell’s Q4 Outlook