Quarterly ResultMay 7, 2026, 02:03 AM
Shell Q1 Adjusted Earnings $6.92B; Acquires ARC Resources for $13.6B; $3B Buyback
AI Summary
Shell plc reported Q1 2026 Adjusted Earnings of $6.92 billion, a significant increase from the previous quarter, driven by strong trading and optimization, higher prices, and improved refining margins. The company announced the acquisition of ARC Resources Ltd. for approximately $13.6 billion and the divestment of Jiffy Lube International for $1.3 billion. Shell also initiated a new $3.0 billion share buyback program, following the completion of a $3.5 billion program, while net debt and gearing increased.
Key Highlights
- Shell to acquire ARC Resources Ltd. for approximately $13.6 billion, expected to close H2 2026.
- Agreed to sell Jiffy Lube International for $1.3 billion, expected to close H2 2026.
- Q1 2026 Adjusted Earnings rose to $6.92 billion from $3.26 billion in Q4 2025.
- Income attributable to Shell plc shareholders was $5.69 billion in Q1 2026.
- Announced a new $3.0 billion share buyback program, to be completed by Q2 2026 results.
- Q1 2026 dividend declared at $0.3906 per share.
- Net debt increased to $52.6 billion, with gearing at 23.2% at quarter-end.
- Chemicals and Products segment Adjusted Earnings turned positive to $1.93 billion from a $66 million loss.