News Formal

Shell logs 'strong' quarter as earnings fall but top expectations

  • 📰 brieflyza
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 68%

Business News News

Business Business Latest News,Business Business Headlines

British oil and gas giant Shell announced Thursday that first-quarter earnings fell but beat expectations in a 'strong' performance, and unveiled another bumper stock buyback. Shell had already warned last month that it expected lower natural gas sales in the first quarter after a particularly strong performance in the final three months of 2023.

British oil and gas giant Shell announced Thursday that first-quarter earnings fell but beat expectations in a"strong" performance, and unveiled another bumper stock buyback.

The energy major, which is investing heavily in renewables, insisted it remained on track to become a net zero emissions company by 2050, but its results sparked fresh anger from the green lobby.Shell also unveiled a fresh $3.5-billion stock buyback and forecast capital expenditure this year would reach between $22 billion and $24 billion, it added in a results statement.

Shell added that net profit, or profit after taxation, declined about 15 percent to $7.4 billion in the reporting period.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nigeria: Joint Letter Regarding Shell's Sale of the Shell Petroleum Development Company in NigeriaPress Release - The following joint letter, signed by 40 Nigerian and international non-governmental organisations, urges the Nigerian Upstream Petroleum Regulatory Commission to refuse regulatory approval for Shell plc's proposed sale of all of its shares in it's Nigerian operation, the Shell Petroleum Development Company, to Renaissance African...
Source: allafrica - 🏆 1. / 99 Read more »