Shell Plc reported first-quarter 2025 earnings with an adjusted profit of €5 billion. This is up 52% from the previous quarter, mainly due to the strong performance of all companies, Euronews reported. 

Although it exceeded market expectations of €4.4 billion, it was still a 27% drop from the same quarter in 2024. 

The company also announced a share buyback worth €3.1 billion over the next three months. This will be the fourteenth consecutive quarter in which the company has announced share buybacks worth at least €2.7 billion. 

Net debt amounted to EUR 36.6 billion in the first quarter of the year, which includes the increase in leases related to the acquisition of Pavilion Energy.  

Free cash flow decreased from €8.7 billion in Q1 2024 to €4.7 billion in Q1 2025, mainly due to falling oil prices. 

Shell's integrated gas division recorded an adjusted profit of €2.2bn in the first quarter of the year, compared with €2bn for the Upstream division. 

Wael Savan, Shell's chief executive, said in the first quarter results press release on the company's website:

"Shell delivered another solid set of results in the first quarter of 2025. We further strengthened our flagship LNG business by completing the acquisition of Pavilion Energy, and increased the quality of our portfolio. Our strong performance and resilient balance sheet give us the confidence to initiate a further €3.1 billion of buybacks over the next three months, in line with the strategic direction we set at the Capital Markets Day in March."

Shell has recently significantly reduced its carbon reduction targets. This included dropping its target to reduce its carbon footprint by 45% by 2035. It also adjusted its target to reduce the carbon intensity of its energy supply by 20% by 2030 to 15% to 20%. | BGNES