Shell Q1 Report 2024

“Shell delivered another quarter of strong operational and financial performance, demonstrating our continued focus on delivering more value with less emissions. We continue to deliver on our Capital Markets Day targets, giving us the confidence to commence another $3.5 billion buyback programme for the next three months.” 

Highlights

  • Q1 2024 Adjusted Earnings1 of $7.7 billion, reflecting strong operational performance across the business. CFFO of $13.3 billion for the quarter includes a working capital outflow of $2.8 billion.
  • Commencing a $3.5 billion share buyback programme, expected to be completed by Q2 2024 results announcement. Over the last 4 quarters, total shareholder distributions paid were 41% of CFFO.
  • 2024 cash capex outlook unchanged: $22 – 25 billion. 

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