Analysts Make Lukewarm Lukoil Forecasts, See Gazprom Net Soaring

摘要

The two Russian majors still to report this earnings season, Lukoil and Gazprom, are expected to release their numbers early next week. Analysts see the top private oil firm’s profits slipping slightly in the second quarter but say the state gas giant’s first-quarter income will soar as a result of a bitterly cold winter and lower purchasing costs. An International Oil Daily poll of analysts suggests Lukoil’s net profit under US GAAP standards will total around $2.19 billion for the April-June period, down almost 6% from the $2.32 billion reported a year ago but up from $2.05 billion in the first quarter (IOD Aug.31,p4). Revenues are seen at $25.27 billion, against $20.116 billion a year ago, while earnings before interest, taxes, depreciation and amortization (Ebitda) are forecast to slip from $4.02 billion to $3.94 billion.