Shell Misses On Q2 Earnings, Announces $3B Share Buyback Program
Portfolio Pulse from Lekha Gupta
Shell PLC (NYSE:SHEL) reported Q2 2023 revenues of $74.6 billion, missing the consensus of $79.2 billion. Adjusted EBITDA declined 37% Y/Y to $14.4 billion due to lower oil and gas prices, refining margins, volume decline, and lower LNG trading & optimization results. The company announced a $3 billion share repurchase program, scheduled for November 2, 2023, and expected to be completed by Q3 2023 results. Shell also disclosed a Q2 interim dividend of $0.331, up 15%, payable on September 18, 2023.
July 27, 2023 | 11:24 am
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NEGATIVE IMPACT
Shell's Q2 2023 revenues and adjusted EBITDA missed expectations, which could negatively impact the stock. However, the announced $3 billion share buyback program and increased dividend may offset some of the negative sentiment.
Shell's lower than expected Q2 2023 revenues and adjusted EBITDA are negative indicators for the stock. However, the company's announcement of a $3 billion share buyback program and increased dividend may provide some support to the stock, as these actions return capital to shareholders and can be seen as a sign of confidence in the company's financial stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100