The brand logo of the mineral oil and natural gas company Shell plc can be seen at a filling station of the company in Nuremberg (Bavaria) on July 25, 2025.
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Britain’s Shell on Thursday reported better-than-expected second-quarter profit and maintained the pace of its shareholder returns, despite the impact of lower global oil and gas prices.
The energy giant posted adjusted earnings of $4.26 billion for the three months through June, beating analyst expectations of $3.87 billion, according to an LSEG-compiled consensus.
A separate, company-provided analyst forecast had expected Shell’s second-quarter profit to come in at $3.74 billion.
Shell reported adjusted earnings of $6.29 billion over the same period last year and $5.58 billion in the first three months of 2025.
The results come shortly after the London-listed firm flagged weaker trading results at its integrated gas division and losses at its chemicals and products arm.
Shell also announced another $3.5 billion in share buybacks over the next three months, keeping the pace of its shareholder returns. It marks the 15th consecutive quarter of at least $3 billion in buybacks.
The company’s net debt, meanwhile, came in at $43.2 billion at the end of the second quarter, up from $41.5 billion on a quarterly basis.
In March, Shell announced plans to prioritize shareholder returns, ramp up the cost of savings and double down on its liquified natural gas (LNG) push. The strategic update was designed to bolster its commitment to value creation, while maintaining focus on “performance, discipline and simplification.”
The plan appears to have been well received by investors. Shell’s share price has outperformed many of its European and U.S. rivals so far this year, notching gains of 8%. By comparison, Britain’s BP is up 3%, France’s TotalEnergies is down 2% and Exxon Mobil is up 4% over the same period.
Notably, Shell recently dismissed speculation about a possible takeover bid for BP, saying in late June that it had “no intention” of making an offer for its struggling domestic rival.
Shell on Thursday said that it achieved structural cost reductions of $800 million through the first six months of the year, bringing cumulative reductions since 2022 to $3.9 billion. Earlier in the year, the company set a cost reduction target of $5-7 billion by the end of 2028.
