Overview
- Shell reported $4.26 billion in adjusted second-quarter earnings, topping the $3.87 billion consensus despite a 32 percent year-on-year slide.
- First-half net profit fell to $8.4 billion, down 23 percent from $10.9 billion in the same period a year earlier.
- Management attributed the downturn to lower trading and optimization margins and softer realized oil and gas prices.
- Since 2022 Shell has secured $3.9 billion in structural cost savings and targets $5–7 billion by 2028.
- Shares have gained 8 percent year-to-date and the company reiterated it has no intention of bidding for BP as it deepens its LNG focus.