From Morningstar: 2024-05-02 06:34:00

Shell announced a $3.5 billion share buyback, beating expectations despite lower earnings. Revenue decreased 16% to $74.70 billion, pretax profit fell 23% to $11.04 billion, adjusted earnings dropped 20% to $7.73 billion, EPS fell 9.5% to $1.14. Dividend increased 20%. Renewables earnings saw a sharp decline.
Integrated Gas earnings rose 15%, but Upstream earnings declined 19%. Marketing earnings fell 37%, while Chemicals & Products earnings dropped 34%. Renewables & Energy Solutions earnings slumped. Shell forecasted cash capital expenditure and production volumes for 2024. CEO emphasized focus on delivering value with less emissions.



Read more at Morningstar: Shell Q1 Earnings: Profits Down, Dividend Up, New…