Business
Shell plc publishes fourth quarter 2025 press release
London, February 5, 2026 "2025 was a year of accelerated momentum, with strong operational and financial performance across Shell. We generated free cash flow of $26 billion, made significant progress in focusing our portfolio and reached $5 billion of cost savings since 2022, with more to come.In Q4, despite lower earnings in a softer macro, cash delivery remained solid and today we announce a 4% increase in our dividend and $3.5 billion share buyback, making this the 17th consecutive quarter o
About this update from Shell Plc
[{"type":"text","content":"London, February 5, 2026","length":24,"tagName":"p"},{"type":"text","content":""2025 was a year of accelerated momentum, with strong operational and financial performance across Shell. We generated free cash flow of $26 billion, made significant progress in focusing our portfolio and reached $5 billion of cost savings since 2022, with more to come.In Q4, despite lower earnings in a softer macro, cash delivery remained solid and today we announce a 4% increase in our dividend and $3.5 billion share buyback, making this the 17th consecutive quarter of at least $3 billion of buybacks."","length":521,"tagName":"p"},{"type":"text","content":"Shell plc Chief Executive Officer, Wael Sawan","length":45,"tagName":"p"},{"type":"text","content":"CONSISTENT DELIVERY WITH MORE TO COME","length":37,"tagName":"p"},{"type":"text","content":"• Q4 2025 Adjusted Earnings1 of $3.3 billion and CFFO of $9.4 billion, supported by strong operational performance in Upstream and Integrated Gas in a lower price environment, offset by year-end movements1.• Resilient CFFO of $42.9 billion for the full year of 2025. Shareholder distributions of ~52% of CFFO.• Strong balance sheet with net debt of ~$45.7 billion ($16.8 billion excluding leases), gearing 20.7%.• Structural cost reductions of $5.1 billion achieved since 2022; delivered $2.0 billion in 20252.• Disciplined capital allocation with 2025 cash capex of $20.9 billion; cash capex outlook for 2026: $20 - 22 billion.• Increasing dividend per share by 4% to $0.372 for the fourth quarter, while commencing a $3.5 billion share buyback programme, expected to be completed by Q1 2026 results announcement.• Significant strategic portfolio actions taken throughout 2025, including Nigeria Onshore, Canadian Oil Sands and Singapore Chemicals & Refinery exits, while strengthening our Integrated Gas and Upstream portfolios with Pavilion acquisition & equity increases across our Deepwater portfolio.","length":1120,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"2","style":"width:34.7%;border-top:solid black 1pt;border-bottom:solid black 1pt;border-left:solid black 1pt;","val":[{"type":"text","content":"$ million1","length":10,"tagName":"p","attribs":{}}]},{"style":"width:16.32%;text-align:center;vertical-align:middle;border-top:solid black 1pt;border-bottom:solid black 1p...