Shell's first-quarter adjusted profit beats expectations
author: Ann
2025-05-06
Recently, British oil giant Shell reported stronger-than-expected first-quarter profits and maintained the pace of its share buyback program, even though profits fell by more than a quarter compared with the same period last year.
The company reported adjusted profits of $5.58 billion in the first three months of this year, exceeding analysts' expectations of $5.09 billion, but down about 28% from $7.73 billion in the same period last year.
Shareholder returns for large oil companies have always been a hot issue for investors, especially as industry profits continue to decline from record highs in 2022.
In recent months, weak demand prospects, falling crude prices and U.S. President Trump's rapidly changing trade policies have disrupted investor sentiment.
Shell announced another $3.5 billion share buyback plan on May 2, which is expected to be completed in the next three months. The company said this was its 14th consecutive quarter of at least $3 billion in buybacks.
Shell CEO Wael Sawan called the earnings "another solid result."
"Our strong performance and resilient balance sheet give us the confidence to commence a further $3.5 billion of buybacks over the next three months, consistent with the strategic direction we set out at our Capital Markets Day in March," Sawan said in a statement.
Shell reiterated that its annual investment budget will be reduced by $20 billion to $22 billion by 2025.
The company reported adjusted profits of $5.58 billion in the first three months of this year, exceeding analysts' expectations of $5.09 billion, but down about 28% from $7.73 billion in the same period last year.
Shareholder returns for large oil companies have always been a hot issue for investors, especially as industry profits continue to decline from record highs in 2022.
In recent months, weak demand prospects, falling crude prices and U.S. President Trump's rapidly changing trade policies have disrupted investor sentiment.
Shell announced another $3.5 billion share buyback plan on May 2, which is expected to be completed in the next three months. The company said this was its 14th consecutive quarter of at least $3 billion in buybacks.
Shell CEO Wael Sawan called the earnings "another solid result."
"Our strong performance and resilient balance sheet give us the confidence to commence a further $3.5 billion of buybacks over the next three months, consistent with the strategic direction we set out at our Capital Markets Day in March," Sawan said in a statement.
Shell reiterated that its annual investment budget will be reduced by $20 billion to $22 billion by 2025.
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