Gazprom Neft Q3 earnings forecast to fall 46% under US GAAP - analysts
MOSCOW. Nov 30 (Interfax) - Gazprom Neft will see third quarter earnings decline 46% to $853 million, investment company and bank analysts told Interfax in a consensus forecast.
The analysts expect net profit in January-September to total $2.387 billion, half the level of a year earlier.
Revenue will decline 41% to $16.099 billion in the nine months (and 30% to $6.734 billion in the third quarter), they said. EBITDA will decline 50% to $3.873 billion (and 46% to $1.414 billion in the third quarter).
Uralsib analysts believe Gazprom Neft will show substantially improved results due to the consolidation of Sibir Energy, which will partially offset a higher tax bill and the negative impact of the stronger ruble.
Gazprom Neft will publish consolidated US GAAP financials for the third quarter and the first nine months of 2009 on December 1.