Shell PLC

Latest Results (17.12.2024):

Strong Earnings Performance

In the third quarter of 2024, Shell PLC reported adjusted earnings of $6.0 billion. This performance was achieved despite facing challenges such as lower crude prices and weaker refining margins. The strong operational performance in segments like Integrated Gas, Upstream, and Marketing contributed significantly to these results.

Cash Flow and Debt Reduction

Shell PLC's cash flow from operations (CFFO) for Q3 2024 was $14.7 billion, which included a working capital inflow of $2.7 billion. The company successfully reduced its net debt by $3.1 billion over the quarter, bringing it down to $35.2 billion, or $9.6 billion when excluding lease liabilities.

Shareholder Returns

Shell PLC announced a new $3.5 billion share buyback program, expected to be completed by the Q4 2024 results announcement. This marks the 12th consecutive quarter of announcing $3 billion or more in buybacks. Additionally, the dividend remained stable at $0.344 per ordinary share, with total shareholder distributions over the last four quarters amounting to 43% of CFFO.

Segment Performance

In Q3 2024, Shell PLC's Integrated Gas segment reported adjusted earnings of $2.9 billion, benefiting from higher LNG liquefaction volumes. The Upstream segment contributed $2.4 billion, while the Marketing segment added $1.2 billion to the company's overall adjusted earnings.

Outlook and Future Plans

Looking ahead to Q4 2024, Shell PLC anticipates production to be affected by scheduled maintenance at the Pearl GTL facility in Qatar. Despite this, the company remains focused on delivering value with reduced emissions and enhancing the resilience of its balance sheet, as stated by CEO Wael Sawan.