• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Shell warns of a $2.0 billion tax hit in the current quarter
Investing

Shell warns of a $2.0 billion tax hit in the current quarter

by January 6, 2023
by January 6, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Shell plc (LON: SHEL) is in focus on Friday after it said the new levies in European Union and the United Kingdom could result in a $2.0 billion tax hit in its fourth quarter.

Shell to report Q4 results in early February

In September, EU said the fossil fuel companies will pay an additional tax on surplus profits in 2022 and 2023.

Weeks later, the U.K. also imposed a 35% levy on their windfall profits through March, 2028. The government expects this tax to bring in over $40 billion over the said period.

Energy companies noted a sharp increase in revenues last year as the West moved to shun Russian supply in response to its atrocities in Ukraine.

In the third quarter, Shell reported a more than 100% increase in its adjusted earnings to $9.45 billion that saw it raise its per-share dividend by about 15% for Q4. Versus its low in late September, Shell stock is up over 20% at writing.

What to expect from Shell’s fourth quarter

Shell is scheduled to report its fourth-quarter results on February 2nd. Citing the new taxes, it guided for $550 million to $750 million in loss this morning.

According to the London-headquartered firm, its LNG volumes likely slipped to between 6.6 million and 7.0 million metric tons in the current quarter as two of its Australian facilities faced longer-than-expected outages.

Nonetheless, it expects a meaningful sequential growth in its fourth-quarter LNG trading results. Oil products trading, though, will likely be significantly lower than the previous quarter, Shell added.

Earlier this week, GERDES Energy Research initiated the Shell stock with a “buy” rating and said it had upside to $74. That represents a 30% premium on its current price.

The post Shell warns of a $2.0 billion tax hit in the current quarter appeared first on Invezz.

You Might Also Like
  • JD Sports shares collapsed in 2022: Is it a buy in 2023?
  • Bitcoin remains vulnerable near $16k amid FTX contagion
  • Diagonal Spread Options Strategy: The Ultimate Guide
  • Why Alibaba stock is rising and the next price target
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Quectel Continues to Drive Digital Transformation With Advanced Smart Module, Edge Intelligence and Machine Vision Technologies at CES 2023
next post
Leon Cooperman shares market outlook following monthly jobs report

You may also like

Core inflation remains high, meaning more interest rate hikes coming

December 19, 2022

2022 in the stock market: why it hasn’t been that...

December 7, 2022

How to play the Meta stock after a $725 million...

December 23, 2022

Oak Street Health stock just rallied 30%: explained here

January 10, 2023

Call Option Payoff

April 14, 2023

Is it safe to buy Baron Oil shares amid the...

December 27, 2022

Former FTX CEO Sam Bankman-Fried arrested in the Bahamas

December 13, 2022

Lululemon stock sinks following lowered outlook: buy the dip?

January 9, 2023

SafePal wallet adds support for The Open Network (TON)

December 21, 2022

Genesis CEO asks for patience from clients amid Gemini pressure

January 4, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Don’t Overlook This Lagging Industry; I Believe It’s Set To Explode!

      July 6, 2025
    • Week Ahead: NIFTY Set To Stay In A Defined Range Unless These Levels Are Taken Out; Drags Support Higher

      July 5, 2025
    • Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

      July 4, 2025
    • From Oversold to Opportunity: Small Caps on the Move

      July 3, 2025
    • Money’s Not Leaving the Market — It’s Rotating!

      July 3, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,629 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,915 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,603 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,570 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,445 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,163)
    • Investing (538)
    • Stock (2,654)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Don’t Overlook This Lagging Industry; I Believe It’s Set To...

      July 6, 2025
    • Week Ahead: NIFTY Set To Stay In A Defined Range...

      July 5, 2025
    • Essence Fest leads a summer of events for Black entrepreneurs...

      July 4, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,163)
    • Investing (538)
    • Stock (2,654)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Star investor David Tepper is ‘leaning...

    December 22, 2022

    HSBC share price: Winds of change...

    January 2, 2023

    HSBC share price retreats amid China...

    November 28, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here