Key facts
- Adjusted earnings reached $10.81 billion, exceeding analyst estimates.
- Net debt fell to $39.7 billion after the ARC Resources acquisition.
- A $5 billion share buyback program was announced for the next three months.
Shell reported third-quarter adjusted earnings of $10.81 billion on Thursday, surpassing analyst expectations of $10.33 billion and significantly higher than the $5.43 billion reported a year earlier. The company attributed the strong performance to operational excellence amid a volatile commodity price environment and record refining margins. Shell also announced a $5 billion share buyback program for the next three months. The completion of the ARC Resources acquisition and a final investment decision on LNG Canada Phase 2 were highlighted as key strategic moves supporting long-term cash flow growth. Net debt declined to $39.7 billion from $41.8 billion in the previous quarter.