Shell Q1 Adjusted Profit Rises to $6.9 B, 5% Dividend Hike and $3 B Buyback Announced
Shell reported first-quarter adjusted earnings of $6.915 billion ($1.22/share), up from $5.577 billion a year earlier, while revenue and other income held near $70.13 billion and the board approved a 5% dividend hike. Management unveiled a $3 billion buyback over three months and lowered upstream production guidance for Q2 to 1.62–1.82 m boe/d, triggering a 2.8% share drop.
1. Strong Q1 Earnings Performance
Shell’s adjusted EBITDA climbed to $17.741 billion from $15.250 billion year-on-year, with net profit attributable to shareholders rising to $6.915 billion versus $5.577 billion, driven by robust trading results and higher commodity margins. Total revenues and other income remained essentially flat at $70.133 billion, while underlying oil and gas production slipped by 3% sequentially.
2. Shareholder Returns Boosted
The board approved a 5% increase in the quarterly dividend, taking it to $0.X per share, and launched a $3 billion share buyback to be executed over approximately three months, signaling confidence in cash generation. The buyback contract covers both London and New York markets, with completion targeted before the next quarterly results.
3. Production Guidance Cut
Shell forecast Q2 upstream production of 1.62–1.82 million boe/d, down from previous guidance, citing higher planned maintenance across key fields. Integrated Gas output is now expected at 580–640 thousand boe/d and LNG volumes at 6.8–7.4 million tonnes, reflecting the impact of Middle East tensions on operations and scheduling.