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Shell Launches $3.5 Billion Buyback

May 2, 2024


Shell’s SHEL 2.13%increase; green up pointing triangle first-quarter adjusted earnings fell by less than expected, buoyed by a strong performance by its integrated gas division and kicked off a $3.5 billion share buyback program to close the valuation gap between it and its U.S. rivals.

The British energy major on Thursday reported adjusted earnings of $7.73 billion for the quarter, down from $9.65 billion in the same quarter a year ago, but ahead of market expectations provided by Vara Research of $6.46 billion.

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