Shell PLC Q1 2026 Unaudited Financial Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 07 2026
0mins
Source: Newsfilter
- Significant Revenue Growth: In Q1 2026, Shell's income attributable to shareholders reached $5,694 million, a 37% increase from $4,134 million in Q4 2025, indicating strong market performance and enhanced profitability.
- Adjusted Earnings Performance: Adjusted earnings stood at $7,741 million, down from $12,799 million in Q4 2025, primarily driven by increased contributions from trading and optimization, reflecting ongoing growth potential in downstream and renewables sectors.
- Improved Free Cash Flow: The first quarter free cash flow was $4,202 million, a decrease from $6,015 million in Q4 2025, yet still demonstrating effective management in capital expenditures and operational efficiency.
- Rising Debt Levels: As of Q1 2026, net debt was $52,606 million, up from $45,687 million in Q4 2025, resulting in a gearing ratio increase to 23.2%, reflecting strategic decisions in expanding investments and acquisitions.
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Analyst Views on SHEL
Wall Street analysts forecast SHEL stock price to fall
10 Analyst Rating
5 Buy
5 Hold
0 Sell
Moderate Buy
Current: 85.850
Low
41.75
Averages
74.27
High
91.00
Current: 85.850
Low
41.75
Averages
74.27
High
91.00
About SHEL
Shell plc is an international energy company engaged in the principal aspects of the energy and petrochemical industries. The Company's segments include Integrated Gas, Upstream, Marketing, Chemicals and Products, Renewables and Energy Solutions, and Corporate. The Integrated Gas segment includes liquefied natural gas (LNG), conversion of natural gas into gas-to-liquids (GTL) fuels and other products. It includes natural gas and liquids exploration and extraction, and the operation of the upstream and midstream infrastructure. The Upstream segment includes exploration and extraction of crude oil, natural gas and natural gas liquids. It also markets and transports oil and gas and operates the infrastructure necessary to deliver them to the market. The Marketing segment comprises the Mobility, Lubricants, and Sectors & Decarbonization businesses. The Chemicals and Products segment include chemical manufacturing plants with their own marketing network, and refineries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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