Overview
- Shell reported adjusted first-quarter profit of $6.92 billion, up from $5.58 billion a year earlier and roughly double the prior quarter.
- Shell raised its quarterly dividend 5% to 39.06 cents per share and cut share repurchases to $3 billion this quarter, and the stock fell about 2%.
- The company lifted 2026 capital spending guidance to $24–26 billion, with about $4 billion tied to the planned ARC Resources acquisition.
- Production slipped 4% from the fourth quarter after an Iranian strike damaged a major Shell gas facility in Qatar, and the finance chief put repairs at about $500 million over roughly one year.
- Brent crude has stayed above $100 after Gulf site damage and limits on the Strait of Hormuz, and German data show March fuel prices up 17% to 30% with heating oil up 44% year over year.