SHEL

Shell Q1 Profit, Revenues Down

(RTTNews) - Shell Plc (SHEL), a British oil and gas major, on Thursday reported that its first-quarter income before tax fell to $11.04 billion from last year's $14.35 billion.

Income attributable to shareholders declined to $7.36 billion from last year's $8.71 billion. Earnings per share were $1.13, down from $1.25 a year ago.

Adjusted Earnings per share were $1.20, compared to $1.39 in the prior year. Analysts on average expected the company to report earnings of $1.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Adjusted EBITDA was $18.71 billion, lower than prior year's $21.43 billion.

Total revenue and other income also declined to $74.70 billion from prior year's $89.02 billion.

Looking ahead for the second quarter, Integrated Gas production is expected to be approximately 920 - 980 thousand boe/d. LNG liquefaction volumes are expected to be approximately 6.8 - 7.4 million tonnes.

Upstream production is expected to be around 1,630 - 1,830 thousand boe/d. Production outlook reflects the scheduled maintenance across the portfolio.

Marketing sales volumes are expected to be approximately 2,700 - 3,200 thousand b/d.

Cash capital expenditure for full year 2024 is expected to be within $22 billion to $25 billion.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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