Shell Posts 10.8B Profit and Boosts Buybacks
Shell announced a third quarter net profit of 10.81 billion dollars, surpassing analyst expectations. The company benefited from higher liquefied natural gas prices and record refining margins, prompting an increase in share buybacks.
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SHELL PLC posted an above-expectation net profit of $10.81B in the third quarter on October 29, boosting its quarterly share buybacks to $5B. The figure is almost double the company's profit of $5.43B recorded a year ago. The performance underscores how geopolitical conflict has reshaped energy profitability for major oil producers.
