Overview

• Shell reported Q1 2025 adjusted earnings of $5.58 billion, a 28% year-on-year decline, but exceeded analyst expectations and announced a $3.5 billion share buyback program.
• Chevron posted $3.8 billion in Q1 earnings, meeting Wall Street estimates, and set its annual share repurchase target at $11.5–$13 billion for 2025.
• Exxon Mobil outperformed profit forecasts with $7.71 billion in Q1 earnings, driven by production gains in the Permian Basin and Guyana, despite a 6% year-on-year decline.
• Falling crude prices, exacerbated by U.S. tariff policies, have pressured revenues, but all three companies emphasized cost discipline and strategic capital allocation to sustain resilience.
• Shareholder returns remain a priority, with Shell executing its 14th consecutive quarter of buybacks, Chevron maintaining strong payouts, and Exxon on track for $20 billion in annual repurchases.