# Shell Net Profit More Than Doubles to $12.15 Billion as Revenue Jumps 36%

> Shell's third-quarter net profit more than doubled to $12.15 billion on record refining margins, and the oil major announced a further $5 billion share buyback.

- Published: 2026-10-29T08:14:13+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-29/shell-profit-doubles-buyback
- Source: [MarketScreener](https://www.marketscreener.com/news/shell-profit-doubles-lloyds-earnings-jump-ce785cd3dc81f321)

## Key takeaways

- Shell's third-quarter net profit more than doubled to $12.15 billion from $5.42 billion a year earlier.
- Revenue rose 36% to $92.85 billion, though it fell from $94.66 billion in the second quarter.
- Shell announced a further $5 billion share buyback over the next three months and expects full-year cash capital expenditure of $23 billion to $25 billion.

[Shell](https://akta.pro/company-profiles/00002g4/shell)'s third-quarter net profit more than doubled to $12.15 billion from $5.42 billion a year earlier, and the oil major announced a further $5 billion share buyback over the next three months, [MarketScreener](https://www.marketscreener.com/news/shell-profit-doubles-lloyds-earnings-jump-ce785cd3dc81f321) reported. Shell is a London-headquartered integrated energy company with upstream oil and gas, LNG, refining and marketing operations across more than 70 countries.

## Shell's Revenue and Refining Margins

Revenue rose 36% to $92.85 billion from $68.15 billion a year earlier, although it fell from $94.66 billion in the second quarter. Basic earnings per share more than doubled to $2.15 from $0.91.

Adjusted earnings rose to $10.81 billion from $9.84 billion in the previous quarter, supported by strong operational performance, elevated commodity prices and record refining margins. Adjusted Ebitda increased to $22.74 billion from $20.71 billion quarter-on-quarter, while cash flow from operations stood at $21.04 billion despite Middle East disruptions.

Shell expects full-year cash capital expenditure of $23 billion to $25 billion, including its acquisition of ARC Resources. The company also highlighted its final investment decision on LNG Canada phase 2 and reported gearing of 16.6% following the ARC acquisition.

## Shell's Buyback and Portfolio Moves

According to akta.pro [company records](https://akta.pro/company-data), Shell agreed in July 2026 to sell its South African downstream business, including 580 fuel stations, to ADNOC Distribution for approximately $1 billion, with completion expected in 2027 pending regulatory approvals. The same records show Shell sold Jiffy Lube, the roughly 2,000-center North American fast oil-change chain, to Monomay Capital Partners for $1.3 billion.

## Shell's Recent Production and Payout Steps

On October 28, 2026, Shell Offshore Inc. announced the start of production at Phase 3 of the Silvertip project, adding two wells to the Perdido spar in the Gulf of America, PR Newswire reported. On October 29, 2026, Shell declared a quarterly dividend of $0.7812 per ADS, payable December 21 to shareholders of record November 13, Seeking Alpha reported.

## Shell's Buyback Completion Target

Shell's new $5 billion buyback programme is expected to be completed by the fourth quarter of 2026, Financial Post reported. The programme covers about three months, with contracts for $3 billion on London exchanges and $2 billion on Dutch exchanges, GlobeNewswire reported.

## Companies in this story

- [Shell company profile](https://akta.pro/company-profiles/00002g4/shell) · website: https://www.shell.com
- [PPHE Hotel Group company profile](https://akta.pro/company-profiles/0004pg7/pphe-hotel-group) · website: http://www.pphe.com
- [The Rank Group company profile](https://akta.pro/company-profiles/002fp3g/the-rank-group) · website: http://www.rank.com/en/index.html

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