Russia’s LUKOIL Q2 net rises 64%, misses f’cast

Russia's second largest oil producer LUKOIL (LKOH.MM) reported a 63.9 percent rise in net income in the second quarter, below analysts' expectations. The company, in which U.S. oil major ConocoPhillips (COP.N) owns 20 percent, said net income to U.S. Generally Accepted Accounting Principles rose to $4.13 bln from $2.52 bln in the same period last year and against $4.67 bln forecast in a Reuters poll of 14 analysts.
Sales totalled $31.94 bln, slightly exceeding analysts' averaged expectations of $31.92 bln. Total revenues, which also include an equity share in the income of affiliates, amounted to $32.09 bln.
Core earnings (EBITDA) were $6.24 bln in the second quarter, below the forecast of $6.93 bln.
Net income jumped 91 percent year-on-year to $7.29 bln in the first half of the year. Sales increased by 59 percent to $56.89 bln and EBITDA rose 74.5 percent to $11.08 bln.