Overview
- Adjusted earnings for Q4 2025 were $3.3 billion, below forecasts and down from $3.7 billion a year earlier.
- Shell announced a 4% dividend increase and authorized $3.5 billion of share repurchases for the first quarter, marking a 17th straight quarter of at least $3 billion in buybacks.
- Management reported $26 billion in free cash flow for 2025 and said cumulative cost savings have reached $5 billion since 2022.
- The company had flagged a fourth-quarter loss in its chemicals unit and weaker oil trading results as market oversupply squeezed margins.
- Brent crude prices declined about 19% in 2025 and briefly fell below $60 a barrel, pressuring earnings across the business.