Shell Q3 Pre-tax Profit, Revenues Down; Begins $3.5 Bln Share Buyback

(RTTNews) - British energy major Shell Plc (SHEL, SHEL.L) reported Thursday weak profit before tax and revenues in its third quarter.

Further, the company announced an interim dividend in respect of the third quarter of 2023 of $0.331 per ordinary share.

Shell also announced the commencement of a $3.5 billion share buyback programme covering an aggregate contract term of approximately three months.

For the third quarter, profit before tax was $11.29 billion, down from last year's $11.44 billion.

However, income attributable to shareholders grew to $7.04 billion from prior year's $6.74 billion. Earnings per share increased to $1.05 from $0.92 a year ago.

Adjusted earnings were $6.22 billion, compared to last year's $9.45 billion. Adjusted earnings per share were $0.93, compared to $1.30 a year ago.

Adjusted EBITDA declined to $16.34 billion from last year's $21.51 billion.

Total revenue and other income also declined to $78.01 billion from last year's $98.76 billion.

Total production available for sale was 2.71 million barrels of oil equivalent per day or boe/d, down from 2.77 million boe/d last year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.