Oil and gas major Shell Plc (SHEL,SHEL.L) reported Thursday higher profit in its third quarter, while adjusted EBITDA, a key earnings metric, declined from last year with weak revenues below market estimates.
Further, Shell announced the commencement of a $3.5 billion share buyback programme covering an aggregate contract term of approximately three months. Subject to market conditions, the programme will be completed prior to the fourth-quarter results announcement.
In the third quarter, the company's pre-tax income grew to $7.92 billion from last year's $7.27 billion.
Income attributable to shareholders climbed to $5.32 billion from $4.29 billion a year ago. Earnings per share grew to $0.90 from $0.68 last year.
Adjusted earnings were $5.43 billion, compared to $6.03 billion a year ago. Adjusted earnings per share were $0.93, compared to $0.96 last year.
Adjusted EBITDA, meanwhile, dropped to $14.77 billion from $16.01 billion a year earlier.
Total revenue and other income fell to $70.41 billion from prior year's $72.46 billion. Revenue for the quarter declined to $68.15 billion from $71.09 billion last year. The Wall Street analysts on average expected the company to report revenues of $71.44 billion. Analysts' estimates typically exclude special items.
Looking ahead for the fourth quarter, the company expects Integrated Gas production to be approximately 920 - 980 thousand boe/d. Upstream production is expected to be approximately 1,770 - 1,970 thousand boe/d.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.