Royal Dutch Shell plc (RDS-B, RDSB.L, RDSA.L, RDS-A) reported adjusted earnings of $4.1 billion in the third quarter, reflecting adverse impact of Hurricane Ida and lower contributions from trading and optimization partly offset by higher oil and gas prices. Including a non-cash charge of $5.2 billion due to fair value accounting of commodity derivatives, the company posted a net loss for the quarter.
Cash flow from operations, excluding working capital, was $17.5 billion for the quarter, supported by outstanding cash generation across the businesses and boosted by commodity derivatives, the company said. Over the next phase of capital allocation, the company targets additional shareholder distributions of 20-30% of CFFO comprising dividend and share buybacks.
Third quarter adjusted EBITDA, on CCS basis, increased to $13.46 billion from $8.00 billion, previous year. Adjusted earnings was $4.13 billion compared to $955 million. Adjusted earnings per share increased to $0.53 from $0.12.
Loss attributable to shareholders was $0.4 billion or $0.06 per share compared to profit of $489 million or $0.06 per share, previous year. The Group noted that its third quarter loss included non-cash charges of $5.2 billion due to the fair value accounting of commodity derivatives and post-tax impairment charges of $0.3 billion, partly offset by net gains on sale of assets of $0.3 billion. Income before taxation increased to $1.19 billion from $442 million, a year ago.
Revenue increased to $60.04 billion from $44.02 billion, last year. Total revenue and other income was $61.55 billion compared to $44.72 billion.