Shell Provides Q2 Guidance: Warns of Up to $2B Hit
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 08 2024
0mins
Source: Benzinga
- Shell's Financial Impairment: Shell plc expects a $2 billion impairment in Q2 2024 due to pausing its Rotterdam biofuels facility and divesting the Singapore refinery.
- Upstream Segment: Shell's upstream production fell by 5.4% in Q2 2024 compared to the previous quarter, with estimated output between 1,720-1,820 MBOE/d.
- Integrated Gas Segment: Expectations include lower LNG liquefaction volumes and production, with operating costs projected between $1 billion and $1.2 billion.
- Marketing Segment: Anticipates higher marketing sales volume and profits in line with the previous quarter, with operating expenses expected between $2.5 billion and $2.9 billion.
- Renewables and Energy Solutions Segment: Expects adjusted bottom line to range from a loss of $500 million to a profit of $100 million in Q2 2024.
Analyst Views on SUN
Wall Street analysts forecast SUN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SUN is 63.67 USD with a low forecast of 57.00 USD and a high forecast of 70.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
6 Buy
0 Hold
0 Sell
Strong Buy
Current: 57.010
Low
57.00
Averages
63.67
High
70.00
Current: 57.010
Low
57.00
Averages
63.67
High
70.00
About SUN
Sunoco LP is an energy infrastructure and fuel distribution master limited partnership operating in over 32 countries and territories in North America, the Greater Caribbean, and Europe. The Company's midstream operations include a network of approximately 14,000 miles of pipeline and over 160 terminals. Its segments include Fuel Distribution, Pipeline Systems and Terminals. The Fuel Distribution segment supplies motor fuel to independently operated dealer stations, distributors, commission agents and other consumers. The Pipeline Systems segment includes the operations of its refined products, crude oil and anhydrous ammonia pipelines, as well as other assets that are operated and managed on an integrated basis with its pipeline systems, including certain terminal and storage assets. Its Terminals segment is composed of facilities that provide storage, handling and other services on a fee basis for refined products, crude oil, specialty chemicals, renewable fuels and other liquids.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
