Shell plc has announced impressive results for Q1 2025, delivering adjusted earnings of $5.6 billion.

The company’s robust performance was driven by strategic moves such as the completion of the Pavilion Energy acquisition and significant divestments, including those in Nigeria and Singapore.

CEO Wael Sawan highlighted Shell’s financial strength, stating, “Our strong performance and resilient balance sheet give us the confidence to commence another $3.5 billion of buybacks for the next three months, consistent with the strategic direction we set out at our Capital Markets Day in March.”

In addition to its $3.5 billion buyback program, Shell also revealed a cash capex outlook of $20-22 billion for 2025, reaffirming its disciplined approach to capital allocation.

Key Highlights from Q1 2025:

Adjusted earnings of $5.6 billion, a solid result across business segments

Cash flow from operations (CFFO) excluding working capital of $11.9 billion

$3.5 billion share buyback program launched for the next three months

The company’s strong performance across its integrated gas, upstream, and marketing divisions has set a positive tone for the rest of the year, despite a working capital outflow of $2.7 billion.Sawan added, “This quarter’s results showcase the resilience of our business model and the continued execution of our strategy.”

Shell’s ongoing commitment to shareholder returns is reflected in its consistent buyback initiatives, marking the 14th consecutive quarter of buybacks over $3 billion.