Shell (SHEL) Reports Q1 Profit of $6.92B, Beats Estimates

AI Summary

Shell (SHEL) announced adjusted earnings of $6.92 billion for Q1, outperforming analyst forecasts of $6.1 billion and a prior estimate of $6.36 billion. The company's profit increased compared to $5.58 billion in the same quarter last year. Shell’s net debt rose to $52.6 billion from $45.7 billion at the end of 2022, attributed to rising oil prices affecting inventory values. Additionally, Shell reduced its quarterly share buyback to $3 billion and raised its dividend by 5% to $0.3906 per share, highlighting resilience amid market disruptions due to geopolitical tensions.