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Re: DewDiligence post# 515

Thursday, 11/02/2023 3:43:54 AM

Thursday, November 02, 2023 3:43:54 AM

Post# of 528
SHEL reports 3Q23 results—boosts buyback authorization:

https://www.wsj.com/business/energy-oil/shell-earnings-rose-on-higher-energy-prices-launches-3-5-bln-buyback-5ca6b1a6

Shell’s third-quarter earnings rose [relative to 2Q23] on higher refining margins, oil prices and gas and oil sales… The energy giant on Thursday reported adjusted earnings of $6.22 billion for the quarter, up from $5.07 billion in the preceding quarter, but a slight miss to market expectations of $6.25 billion provided by Vara Research.

The oil-and-gas major launched a $3.5 billion share buyback to complete by its fourth-quarter results announcement, following buybacks of $3 billion during the third quarter. Shell had guided for a buyback program of at least $2.5 billion.


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