Shell Q3 Adjusted Earnings Nearly Double to $10.81B, Buyback Raised to $5B
SHEL sits 57% above its 52-week low of $68.625.
Summary
Shell's Q3 adjusted earnings nearly doubled to $10.81 billion from $5.43 billion a year earlier, the highest since 2022, on record refining margins of $42 per barrel (up from $24 in Q2), higher realized LNG prices and a 22% jump in Integrated Gas production to 772 kboe/d helped by the ARC Resources acquisition. Adjusted earnings of $3.86 per ADS beat the $3.65 consensus, though revenue of $92.848 billion missed the $99.725 billion estimate. The company raised quarterly buybacks to $5 billion from $3 billion and declared a $0.3906 dividend, while net debt fell to $39.7 billion from $41.8 billion in Q2 and cash flow from operations hit $21.0 billion. This follows the October 7 trading update that flagged the refining margin recovery and the 6-K filed today with the full results. Shares are up 2.66% at $107.99, near the 52-week high of $108.43. Q4 guidance calls for Integrated Gas production of 1.080-1.180 million boe/d and LNG liquefaction volumes of 7.3-7.9 million tonnes.
At the time of this announcement, SHEL was trading at $107.88 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $299.5B. The 52-week trading range was $68.63 to $108.43. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.