Shell Plc (NYSE:SHEL) shares are trading slightly higher on Thursday. The company posted mixed third-quarter fiscal 2025 results.
Details
Adjusted earnings per American Depositary Share came in at $1.86, ahead of the $1.71 consensus estimate.
However, revenue fell short at $68.15 billion, compared with analysts’ forecast of $72.81 billion.
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Total adjusted earnings reached $5.4 billion, led by higher trading and optimisation margins, increased sales volumes, and favourable taxes.
Shell generated $12.21 billion in cash flow from operations during the quarter.
Segment Performance
Integrated Gas production rose 2% quarter over quarter to 934,000 barrels of oil equivalent per day, while LNG liquefaction volumes edged up 8% sequentially to 7.29 million metric tons.
Realized liquids prices further dipped to $58 per barrel from $60 per barrel and gas prices rose slightly to $7.30 from $7.20 per thousand standard cubic feet.
Marketing sales volumes remained broadly flat sequentially at 2.82 million barrels per day.
Mobility segment output rose slightly to 2.06 million b/d and Lubricants increased to 88,000 b/d, while Sectors & Decarbonisation fell to 681,000 b/d.
Share Buyback & Dividend
Total shareholder distributions stood at $5.7 billion, including $3.6 billion of repurchases and $2.1 billion in cash dividends in the quarter.
Shell stated the start of $3.5 billion share buyback programme, which is expected to be completed before the announcement of fourth-quarter fiscal 2025 results.
The company declared a third-quarter dividend of $0.3580 per share, payable on December 18 to shareholders of record as of November 14, 2025.
At the end of the quarter, net debt stood at $41.2 billion, down from $43.2 billion in the second quarter, with gearing falling to 18.8% from 19.1% in the previous quarter.
Outlook
The company expects Integrated Gas production of 920 – 980 thousand boe/d and LNG liquefaction volumes of 7.4 – 8.0 million tons in the fourth quarter of 2025.
Upstream volumes are projected at 1.77 to 1.97 million boe/d, while Marketing volumes should range from 2.5 to 3.0 million b/d.
Refinery utilization is forecast between 87%-95%, and Chemicals plant utilization is expected to fall between 71%-79% in the quarter.
Full-year 2025 capital expenditures remain guided at $20 billion to $22 billion.
Price Action: SHEL shares were trading higher by 0.36% to $75.82 premarket at last check Thursday.
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