Shell Q3 adjusted earnings rise to $10.8 billion
Key points
- Shell (NYSE:SHEL) reported third-quarter 2026 adjusted earnings of $10.814 billion, up from $9.836 billion in the previous quarter.
- Shell launched a $5 billion share repurchase programme covering the next three months, while net debt declined to $39.7 billion.
- Shell completed its ARC Resources acquisition and approved a final investment decision for LNG Canada Phase 2, with 2026 cash capital expenditure forecast at $23 billion–$25 billion.
Shell (NYSE:SHEL) reported third-quarter 2026 adjusted earnings of $10.814 billion, up from $9.836 billion in the previous quarter, and announced a new $5 billion share buyback programme.
Income attributable to shareholders reached $12.1 billion, while cash flow from operating activities declined to $21.043 billion from $21.432 billion.
Net debt fell to $39.7 billion from $41.8 billion, while refining margins improved and adjusted earnings from Upstream and Marketing declined quarter over quarter.
Shell expects 2026 cash capital expenditure, including its ARC Resources acquisition, to total $23 billion–$25 billion, and the company completed the acquisition on September 2, 2026.
Shell also made a final investment decision on LNG Canada Phase 2 and expects a fourth-quarter non-cash loss from derecognising its Netherlands defined benefit plan, estimated at $6.4 billion as of September 30, subject to change.
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