Shell delivered a strong set of results for the third quarter ending September 30, citing robust operational performance and higher trading contributions driving results as it announced continued share buybacks.
The oil and gas giant reported adjusted earnings of US$5.4 billion for the quarter, up from US$4.26 billion in the second quarter but down from US$6.03 billion in the third quarter of 2024.
Cash flow from operations (CFFO) came in at US$12.2 billion for the third quarter, compared to US$11.94 billion in the second quarter and US$14.68 billion in the prior-year period.
Shell CEO Wael Sawan said: “Shell delivered another strong set of results, with clear progress across our portfolio and excellent performance in our Marketing business and deepwater assets in the Gulf of America and Brazil.
The company also announced US$3.5 billion share buybacks over the next three months.
The program will reduce issued share capital of the company. The company intends to complete the program before its fourth quarter results announcement.
Shell expects full-year cash capital expenditure to be within US$20 billion to US$22 billion. Integrated gas production is expected to be approximately 920 – 980 thousand boe/d.
Corporate adjusted earnings are expected to a new expense of approximately US$600 million to US$800 million in the fourth quarter.
