Shell posts best quarterly profit in four years
Shell earnings beat estimates as higher oil and gas prices lift profit See how strong trading, buybacks and cash flow are shaping Shell's outlook
Shell reported strongerthanexpected secondquarter earnings, driven by higher oil and gas prices linked to the ongoing conflict in the Middle East. The Londonlisted company said adjusted profit reached $9.84 billion for April through June, above analyst estimates and its previous quarter.
The result was Shell's best quarterly performance since the second quarter of 2022, when energy prices rose sharply after Russia's fullscale invasion of Ukraine. CEO Wael Sawan said the company is benefiting from strong operations, trading, and optimization, while noting that market volatility remains a major factor for the sector.
Shell also said it will keep its share buyback pace at $3 billion for the next quarter. The company reported cash flow from operations of $21.4 billion, reduced net debt to $41.75 billion, and left its 2026 capital spending guidance unchanged at $24 billion to $26 billion.