Loading...
Market
Primary driver of Shell's Q4 2024 profits?
2
Resolution / Starting Odds
LNG Division • 25%
Refining and Chemicals Division • 25%
Oil and Gas Production • 25%
Other • 25%
Shell's official quarterly financial report for Q4 2024
Story
Shell's $6 Billion Q3 Profit Beats Forecasts as LNG Offsets Weak Refining, $3.5 Billion Buyback Announced
Oct 31, 2024, 07:31 AM
Shell reported third-quarter 2024 adjusted net income of $6.03 billion, exceeding forecasts of $5.39 billion by 12%. The company's adjusted earnings per share were $0.96, beating estimates of $0.85. Strong performance was driven by a 13% rise in profits from its liquefied natural gas (LNG) division, which offset a near 70% annual drop in profits from its refining and chemicals division due to weaker demand. Shell's oil and gas production was 2.80 million barrels of oil equivalent per day. Cash flow from operations reached $14.68 billion, surpassing expectations. The company reduced net debt to $35.3 billion, a nine-year low, and announced a $3.5 billion share buyback program while maintaining its dividend. Shell also indicated that capital expenditure would be below the lower end of its $22-$25 billion range.
View original story
Similar markets
ExxonMobil • 25%
Shell • 25%
Chevron • 25%
BP • 25%
Outperforms BP • 25%
Outperforms ExxonMobil • 25%
Outperforms TotalEnergies • 25%
Underperforms all • 25%
Geopolitical tensions • 25%
Economic growth • 25%
Technological advancements • 25%
Environmental policies • 25%
Oil production • 25%
Gas production • 25%
Renewable energy projects • 25%
Infrastructure development • 25%
Increased Libyan production • 25%
Decreased Iraqi production • 25%
Increased demand from Asia • 25%
Other factors • 25%
Middle East tensions • 25%
Global economic slowdown • 25%
OPEC production decisions • 25%
Other • 25%
Increase emissions targets • 25%
Maintain current targets • 25%
Decrease emissions targets • 25%
No change in policy • 25%