European Energy Companies Set for Strong Quarter: Barclays
European energy majors are expected to see earnings more than double year-over-year, reaching nearly $35 billion, with underlying free cash flow around $45 billion, according to Barclays analyst Lydia Rainforth. The report notes that benchmark refining margins are at unprecedented levels.
European energy majors are set to more than double earnings from the same period last year, Barclays analyst Lydia Rainforth wrote. She said the sector should report earnings close to $35 billion, with underlying free cash flow around $45 billion. The benchmark refining margin is at unseen levels o…