Shell delivered robust results with significant cost reductions and strategic achievements like the LNG Canada launch and share buybacks. However, challenges in the Chemicals segment and a volatile trading environment due to geopolitical uncertainties balanced the positive outcomes.

Company Guidance -

Q3 2025

In the second quarter of 2025, Shell demonstrated strong operational performance despite challenging macroeconomic conditions, achieving adjusted earnings of $4.3 billion and $11.9 billion in cash flow from operations. The company continued its structural cost reduction efforts, reaching $800 million in the first half of 2025, contributing to a total of $3.9 billion since 2022, with a target of $5 billion to $7 billion by 2028. Shell also progressed on its strategy, with significant achievements such as the start-up of LNG Canada, where Shell holds a 40% interest, aiming to grow LNG sales by 4% to 5%. Additionally, Shell announced a $3.5 billion share buyback program, marking the 15th consecutive quarter with $3 billion or more in buybacks, and maintained shareholder distributions at 46% of CFFO, aligning with their target range of 40% to 50% through the cycle.

Significant Cost Reductions

Achieved $800 million in structural cost reductions in the first half of 2025, with a total of $3.9 billion since 2022, on track for a target of $5 to $7 billion by 2028.

LNG Canada Launch

Major milestone with the start-up of LNG Canada, where Shell holds a 40% working interest. The strategic location offers shorter transit routes to Asia, with the first cargo shipped in June.

Share Buyback Program

Announced a $3.5 billion share buyback program, marking the 15th consecutive quarter of $3 billion or more in buybacks, with shareholder distributions at 46% of CFFO.

Strong Marketing Performance

Marketing recorded its best Q2 results in nearly a decade, driven by strong performance in Mobility and Lubricants.

Shell (UK) (NL:SHELL) Earnings, Revenues Date & History

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NL:SHELL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	0.62 / -	0.823	―	―	―
Jul 31, 2025	2025 (Q2)	0.56 / 0.62	0.849	-27.27% (-0.23)	―	―
May 02, 2025	2025 (Q1)	0.71 / 0.79	1.029	-23.33% (-0.24)	―	―
Jan 30, 2025	2024 (Q4)	0.58 / 0.51	0.952	-45.95% (-0.44)	―	―
Oct 31, 2024	2024 (Q3)	0.73 / 0.82	0.798	3.23% (+0.03)	―	―
Aug 01, 2024	2024 (Q2)	0.81 / 0.85	0.643	32.00% (+0.21)	―	―
May 02, 2024	2024 (Q1)	0.83 / 1.03	1.192	-13.67% (-0.16)	―	―
Feb 01, 2024	2023 (Q4)	0.78 / 0.95	1.192	-20.14% (-0.24)	―	―
Nov 02, 2023	2023 (Q3)	0.80 / 0.80	1.115	-28.46% (-0.32)	―	―
Jul 27, 2023	2023 (Q2)	0.73 / 0.64	1.321	-51.30% (-0.68)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

NL:SHELL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	€31.19	€31.50	+0.98%
May 02, 2025	€28.51	€29.03	+1.82%
Jan 30, 2025	€30.46	€31.35	+2.91%
Oct 31, 2024	€29.19	€29.86	+2.29%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.