Shell Q2 FY26 adjusted earnings rise to $9.84 billion; IFRS net income climbs to $10.8 billion
SHEL•Balance sheet improves
- Net debt fell to USD 41.8 billion from USD 52.6 billion; gearing stood at 19%.
Quarterly earnings and cash flow rise
- Shell posted Q2 2026 IFRS net income attributable to shareholders of USD 10.8 billion, with adjusted earnings (non-GAAP) at USD 9.84 billion.
- Adjusted EBITDA (non-GAAP) rose to USD 20.71 billion from USD 17.74 billion in Q1 2026, while CFFO (non-GAAP) climbed to USD 21.43 billion from USD 6.06 billion.
- Free cash flow (non-GAAP) increased to USD 17.5 billion from USD 2.9 billion, supported by a USD 3.4 billion working-capital inflow.
Capital returns and transaction update
- Shell launched a USD 3 billion share buyback, while ARC Resources’ acquisition won shareholder approval with completion expected in Q3 2026.
