Overview
- Shell reported $5.4 billion in adjusted Q3 earnings, about 10% lower year over year but above consensus, and launched a $3.5 billion buyback for the next three months.
- The buyback marks Shell’s 16th straight quarter committing at least $3 billion, as net debt fell to $41.2 billion and deepwater output hit multi‑year highs in the Gulf of Mexico and Brazil.
- Shell highlighted strong integrated gas, marketing and LNG performance, with higher volumes and improved trading margins, and flagged the LNG Canada ramp‑up.
- Chevron beat estimates with adjusted earnings of $1.85 per share and a record 4.1 million boe/day after closing the Hess deal, as refining profits rose on stronger margins.
- Exxon posted adjusted EPS of $1.88 with production up to about 4.8 million boe/day, including record output in the Permian and Guyana where Yellowtail started up ahead of schedule.