WDS 1.16% $28.84 woodside energy group ltd

Ann: First Quarter 2022 Report, page-37

  1. 88 Posts.
    lightbulb Created with Sketch. 6
    it is a pity that the AFR did not lead with a headline of - WPL Revenue More Than Doubling From The Same Period Last Year, but I guess the doubling was in the bag already in previous quarters.

    https://www.copyright link/companies/energy/drop-in-lng-trading-dents-woodside-q1-sales-20220426-p5ag2y

    An unexpected drop in trading activity contributed to Woodside Petroleum missing analyst estimates for March-quarter sales despite revenue more than doubling from the same period last year to $US2.36 billion ($3.3 billion) on higher commodity prices.

    Shares in Woodside were down 5 per cent at $30.48 in late morning trading after the oil and gas producer posted a 17.4 per cent decline in sales from the December 2021 quarter, despite a 3 per cent gain in the average realised prices, to $US93 a barrel of oil equivalent (boe).Woodside

    CEO Meg O’Neill says the company will see the benefit of stronger pricing for LNG this June quarter. Louis Douvis The revenue figure fell 28 per cent shy of RBC Capital Markets’ estimate, while sales volumes also came in short.

    Explanation: Chief executive Meg O’Neill said she still saw the quarter as a strong one for Woodside, particularly for LNG, and noted the drop in trading was from a record level of trading activity in the December quarter.
    “We’re very opportunistic in the trading, and we just didn’t see the opportunities in this first quarter,” she told The Australian Financial Review.
    “That’s revenue at a slimmer margin than the margin that we have on produced volume,
    so we actually think it was a very strong quarter.”



 
watchlist Created with Sketch. Add WDS (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.