SHELL PLC 3rd QUARTER 2026 AND NINE MONTHS UNAUDITED RESULTS
Key Highlights
- ➤Q3 adjusted earnings $10,814 million, nearly doubling from $5,432 million year-over-year
- ➤Q3 free cash flow reached $16,322 million, up from $9,950 million
- ➤Shell announced a $5.0 billion share buyback expected to complete by Q4 results
- ➤ARC acquisition adds approximately 370 kboe/d and carried a $14.0 billion equity value
- ➤LNG Canada Phase 2 doubles capacity to 28 mtpa; operations expected in early 2030s
SUMMARY OF UNAUDITED RESULTS Quarters $ million Nine months Q3 2026 Q2 2026 Q3 2025 Reference* 2026 2025 12,057 10,821 5,322 Income attributable to Shell plc shareholders 28,573 13,703 10,814 9,836 5,432 Adjusted Earnings A. 27,565 15,273 22,736 20,710 14,773 Adjusted EBITDA A. 61,187 43,336 21,043 21,432 12,207 Cash flow from operating activities 48,538 33,425 (4,721) (3,908) (2,257) Cash flow from investing activities (11,765) (11,622) 16,322 17,524 9,950 Free cash flow G. 36,773 21,803 7,922 4,237 4,907 Cash capital expenditure C. 16,361 14,899 9,033 8,664 9,275 Operating expenses F. 26,412 26,115 8,836 8,440 8,998 Underlying operating expenses F. 25,861 25,596 14.4% 12.4% 9.4% ROACE D. 14.4% 9.4% 76,075 73,076 73,977 Total debt E. 76,075 73,977 39,733 41,754 41,204 Net debt E. 39,733 41,204 16.6% 18.7% 18.8% Gearing E. 16.6% 18.8% 2,574 2,455 2,821 Oil and gas production available for sale (thousand boe/d) 2,593 2,781 2.15 1.94 0.91 Basic earnings per share ($) 5.09 2.31 1.93 1.76 0.93 Adjusted Earnings per share ($) B. 4.91 2.57 0.3906 0.3906 0.3580 Dividend per share ($) 1.1718 1.0740 * Alternative Performance (Non-GAAP) measure. See page 37.
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