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Shell plc publishes fourth quarter 2025 press...
Shell plc reported strong 2025 performance with $26 billion in free cash flow and $5 billion in cost savings achieved since 2022. For the fourth quarter of 2025, the company posted adjusted earnings of $3.3 billion and cash flow from operations of $9.4 billion, leading to a 4% dividend increase and the announcement of a $3.5 billion share buyback program. Full-year cash flow from operations was $42.9 billion, with net debt at approximately $45.7 billion and gearing at 20.7%. Capital expenditure for 2025 was $20.9 billion, with a 2026 outlook of $20-22 billion. Strategic portfolio actions, including divestments and acquisitions, were also highlighted. Disclaimer*
About this update from Shell Plc
[{"type":"text","content":"\n\n \n \n\n Shell plc publishes fourth quarter 2025 press release\n\nLondon, 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 of at least $3 billion of buybacks.\" Shell plc Chief Executive Officer, Wael Sawan CONSISTENT DELIVERY WITH MORE TO COME • 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. $ million1Adj. EarningsAdj. EBITDACFFOCash capexIntegrated Gas1,6614,1273,9561,207Upstream1,5706,1144,2872,682Marketing5781,604(75)688Chemicals & Products3(66)9391,7751,016Renewables & Energy Solutions (R&ES)131329(405)391Corporate(567)(313)(100)31Less: Non-controlling interest (NCI)51 ShellQ4 20253,25612,7999,4386,015Q3 20255,43214,77312,2074,907FY 202518,52956,13542,86320,915FY 202423,71665,80354,68721,085 1Income/(loss) attributable to shareholders for Q4 2025 is $4.1 billion. Further details and reconciliation of non-G...