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Royal Dutch Shell Plc (RDS.A) Q3 2017 Results - Earnings Call Transcript

Nov. 02, 2017 5:19 PM ETShell plc (SHEL)
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Royal Dutch Shell Plc (RDS.A) Q3 2017 Earnings Call November 2, 2017 9:30 AM ET


Jessica Uhl - Royal Dutch Shell Plc


Oswald Clint - Sanford C. Bernstein Ltd.

Theepan Jothilingam - Exane BNP Paribas

Lydia Rainforth - Barclays Capital Securities Ltd.

Christopher Kuplent - Bank of America Merrill Lynch

Irene Himona - Société Générale SA (UK)

Thomas Adolff - Credit Suisse Securities (Europe) Ltd.

Michele Della Vigna - Goldman Sachs International

Jon Rigby - UBS Ltd.

Lucas Herrmann - Deutsche Bank AG

Martijn Rats - Morgan Stanley & Co. International Plc

Jason Gammel - Jefferies International Ltd.

Christyan F. Malek - JPMorgan Securities Plc

Alastair R. Syme - Citigroup Global Markets Ltd.

Biraj Borkhataria - RBC Capital Markets

Brendan Warn - BMO Capital Markets Ltd.

Doug Terreson - Evercore Group LLC

Rob West - Redburn (Europe) Ltd.

Anish Kapadia - Tudor, Pickering, Holt & Co. International LLP

Jason Kenney - Banco Santander SA (London Branch)

Iain Reid - Macquarie Capital (Europe) Ltd.


We're about to begin. Welcome to the Royal Dutch Shell 2017 Q3 announcement. There will be a presentation followed by a Q&A session. Today's conference is being recorded.

I would like to introduce Ms. Jessica Uhl. Please go ahead.

Jessica Uhl - Royal Dutch Shell Plc

Ladies and gentlemen, welcome to the Shell third quarter 2017 results call.

Before we start, let me highlight the disclaimer statement. The third quarter 2017 was another strong quarter for Shell. Our Q3 2017 CCS earnings, excluding identified items, were $4.1 billion. Cash flow from operations in the quarter was $7.6 billion and, excluding working capital movements, this was $10 billion. Our free cash flow for the quarter was $3.7 billion at an average Brent price for the quarter of around $52 per barrel and, for the fifth consecutive quarter, free cash flow more than covered the cash dividend paid.

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