Shell’s Q1 2024 Earnings Highlights

Adjusted Earnings

:

Shell reported

adjusted earnings

of

$7.7 billion

for Q1 2024, reflecting strong operational performance across the business

.

This result exceeded analyst expectations, as the consensus estimate was

$6.5 billion

.

Cash Flow from Operations (CFFO)

:

The

CFFO

for the quarter was

$13.3 billion

, which includes a working capital outflow of

$2.8 billion

.

Share Buyback Program

:

Shell announced a

$3.5 billion share buyback program

, expected to be completed by the Q2 2024 results announcement

.

Operational Highlights

:

Guyana Production

Shell achieved

quarterly gross production of over 600,000 oil-equivalent barrels per day in Guyana

.

Record Refining Throughput

The company maintained excellent turnaround performance, resulting in a record first-quarter refining throughput

.

Environmental Efforts

:

Shell reduced operated methane emissions intensity by more than

60% since 2016

.

Stock Price Reaction

:

Following the earnings report, Shell’s stock price had a positive reaction.

The strong financial performance and share buyback program likely contributed to investor confidence

.