US EditionShell's profit drops by almost a third on lower oil prices, but beats expectations
UNITED KINGDOM, JUL 31 – Shell reported $4.26 billion profit in Q2, beating estimates, and will continue $3.5 billion share buybacks despite lower oil prices and market volatility, the 15th consecutive quarter of buybacks.
- On Thursday, Britain's Shell reported $4.26 billion in adjusted earnings and will buy back $3.5 billion of shares over the coming three months.
- Amid market swings, Shell warned earlier this month that trading earnings were significantly lower than the previous three months, impacted by US President Donald Trump's trade war and OPEC+ decisions.
- With $800 million of savings in the first half and $3.9 billion since 2022, Shell sustained its buyback run,
- Alongside buybacks, Shell reported net debt of $43.2 billion at the end of the second quarter, up from $41.5 billion in the first quarter.
- In March, Shell announced a strategic update to boost shareholder returns, focus on `performance, discipline and simplification`, and set a $3.5 billion cost reduction target by 2028.
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Shell Defies Expectations With Strong Q2 Earnings
Shell (NYSE: SHEL) posted better-than-expected earnings for the second quarter, as reduced expenses and higher marketing margins partly offset lower oil and gas prices and weaker trading results. Shell on Thursday reported adjusted earnings of $4.26 billion for the second quarter, down by 24% from the first quarter and down 32% from a year earlier. Still, the earnings beat the analyst consensus estimate of about $3.7 billion. Following the res…
The Independent
Shell profits fall as trading hit by volatile markets
But profits in the second quarter were ahead of analyst expectations.
Shell's profit drops by almost a third on lower oil prices, but beats expectations
Shell's second-quarter net profit tumbled by almost a third on Thursday, dragged down by a drop in oil prices, lower gas trading results and outage-related losses from its chemicals operations, but it still easily beat analysts' forecasts.
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