Shell Chief Executive Officer, Wael Sawan, said: 'Shell’s relentless focus on operational performance enabled very strong results in a quarter with continued severe disruption to the global energy system. I’m grateful to Shell’s teams around the world who continue to work tirelessly to produce and supply the energy our customers need. We are further investing in our advantaged Integrated Gas business with the completion of the ARC Resources Ltd. acquisition and the final investment decision on LNG Canada Phase 2, supporting Shell’s long-term cash flow growth. Our strong delivery allows us to announce a $5 billion share buyback programme for the next three months.'
STRONG AND CONSISTENT OPERATIONAL PERFORMANCE
- Q3 2026 Adjusted Earnings1 of $10.8 billion, reflects strong operational performance in a continued volatile and elevated commodity price environment with record refining margins.
- CFFO of $21.0 billion despite Middle East outages.
- Continued portfolio strengthening, including the ARC Resources and US Mobility acquisitions, FID on LNG Canada Phase 2, high-grading of the power portfolio, and divestment of non-core oil and gas assets in the US and Cyprus.
- Disciplined spending, with the cash capex outlook for 2026 (including ARC) in the $23 - 25 billion range.
- Strong balance sheet with post-ARC acquisition gearing of 16.6% (2.7% excluding leases).
- Announced $5 billion buybacks for the next 3 months.
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Source: Shell
