Shell announced a $5 billion share buyback program for the next three months on October 29, alongside third-quarter adjusted earnings of $10.814 billion.
The adjusted result increased from $9.836 billion in the second quarter. Income attributable to shareholders, a separate accounting measure, was $12.1 billion. Shell’s adjusted earnings exclude specified items and should not be confused with that shareholder-income total.
Cash flow from operations reached $21.043 billion, compared with $21.432 billion in the preceding quarter. Free cash flow was $16.3 billion, and net debt stood at $39.7 billion.
Shell said higher gas and liquefied-natural-gas prices supported its Integrated Gas earnings. Chemicals and Products benefited from stronger refining margins, while Upstream adjusted earnings declined from the previous quarter amid lower liquids prices and higher well write-offs.
The company retained its 2026 cash capital expenditure outlook of $23 billion to $25 billion, including ARC Resources, whose acquisition closed in September. That spending range is a forecast. The newly announced buyback is a planned repurchase program, rather than purchases already completed.
Sources: Shell quarterly results via GlobeNewswire/Ritzau — https://via.ritzau.dk/pressemeddelelse/15256230/shell-plc?lang=en&publisherId=90446