Lundin Energy AB logo

LUNE - Lundin Energy AB News Story

SEK283.2 -0.6  -0.2%

Last Trade - 5:00pm

Sector
Energy
Size
Large Cap
Market Cap £6.81bn
Enterprise Value £9.16bn
Revenue £2.82bn
Position in Universe 109th / 1857

BUZZ-Lundin Energy falls as tax paid surprises negatively

Wed 28th July, 2021 8:45am
** Shares in Stockholm-listed oil company Lundin Energy
 LUNE.ST  fall 3%, paring earlier losses of as much as 4.2%, on
a tax surprise within its Q2 report  urn:newsml:reuters.com:*:nFWN2P400K
    ** Q2 earnings as expected, analysts from SpareBank 1
Markets say in a note, flagging however higher-than-estimated
tax
    ** "All lines above P&L tax was as expected or slightly
better while the P&L tax was much higher than we had modelled,"
the brokerage says
    ** Lundin Energy posted underlying profit of $1,059.6 mln,
roughly in line with expectations, but adj. net profit of $158.6
million missed company-compiled consensus by 5% 
    ** SpareBank says it needs to look closer into Q2 tax to
fully understand deviation from its forecast, adding it will
affect its 2021 EPS estimate, which will likely come down by
3-5%
    

 (Reporting by Izabela Niemiec)
 ((izabela.niemiec@tr.com))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.