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Shell shares rise after buyback statement but earnings down
The Journal
|May 03, 2025
SHELL reported a significant drop in profits for the first quarter yesterday, as crude oil prices weakened due to geopolitical uncertainty.
The FTSE 100 oil behemoth posted adjusted earnings of $5.58bn (£4.2bn) for the first three months of the year.
Although this exceeded analyst predictions of $4.96, it represented a considerable decline from the $7.73bn reported for the same period last year.
Shares in the energy company increased by over 2% during early trading yesterday.
Crude oil hit a quarterly high on January 15, prior to President Donald Trump's inauguration, at $82 per barrel.
However, it fell in the subsequent months and settled around $75 on March 31.
The reporting period narrowly missed Trump's sweeping 'Liberation Day' tariffs on trading partners, which caused oil prices to plummet.
This story is from the May 03, 2025 edition of The Journal.
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