Shell Q3 profit beats views as gas division outperforms
Shell delivered stronger-than-expected third-quarter earnings thanks to solid gas trading and upstream performance, and confirmed it will maintain a $3.5 billion share buyback over the next three months.
Shell posted adjusted Q3 profit of $5.4 billion, topping analysts’ estimates of $5.09 billion, though down 10% year-on-year on lower oil prices. The company also recorded operating cash flow of $12.2 billion, below $14.7 billion a year earlier.
The energy major will continue its $3.5 billion share buyback, marking a 16th straight quarter of returning at least $3 billion to shareholders. Including $2.1 billion in dividends, payouts amounted to 48% of operating cash flow — within the company’s 40–50% target range.
Rival TotalEnergies reported a 2.4% drop in Q3 earnings to $4 billion, in line with forecasts, supported by higher production and improving refining margins despite weaker oil prices.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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