Shell PLC reported adjusted earnings of $6.92 billion for the first quarter of 2026. This result surpassed analyst forecasts of $6.36 billion. Adjusted earnings rose 24% during the period. Higher oil prices, improved refining margins, and strong trading and optimization results drove the performance. Net income for the quarter reached $5.69 billion. Adjusted earnings per share hit $2.44, beating Wall Street estimates.
Shell increased its dividend to $0.3906 per share. This represents a 5% increase in the quarterly payout. The company also initiated a $3.0 billion share buyback program for the next three months.
Shell shares fell 2.9% in London morning trading. The decline followed a reduction in the pace of share repurchases compared to previous levels.