Shell Reports 3Q:24 Results, Announces $3.5bn Buyback (PDF Downloads)

(Shell, 31.Oct.2024) — Shell Plc reported third-quarter 2024 (3Q:24) adjusted earnings of $6bn, despite the lower crude prices and weaker refining margins, reflect strong operational performance in Integrated Gas, Upstream and Marketing.

Shell’s cash flow from operations (CFFO) of $14.7bn for the 3Q:24 includes a working capital inflow of $2.7bn; net debt reduced to $35.2bn ($9.6bn excluding lease liabilities). 

Cash Capex for 2024 is expected to be below the lower end of the $22bn-$25bn range. 

And, Shell is commencing a $3.5bn share buyback program, expected to be completed by the 4Q:24 results announcement. Over the last 4 quarters, total shareholder distributions paid were 43% of CFFO, and the dividend stable at $0.344 per ordinary share.

“Shell delivered another set of strong results. We continue to deliver more value with less emissions, whilst enhancing the resilience of our balance sheet,” Shell CEO Wael Sawan.

“Today, we announce another $3.5 billion buyback program for the next three months, making this the 12th consecutive quarter in which we have announced $3 billion or more in buybacks,” Sawan said.

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