The UK-based firm said its adjusted earnings reached $3.61 billion in the first quarter, up from $5.58 billion in the comparable quarter in 2025.
Adjusted earnings jumped from $3.26 billion in the prior quarter.
Compared with the fourth quarter of 2025, adjusted earnings reflected higher contributions from trading and optimization, mainly impacting Shell’s downstream, renewables and energy solutions businesses, higher realized prices, higher refining margins, lower operating expenses and higher lubricants margins, partly offset by lower volumes.
Income attributable to Shell shareholders reached $5.69 billion in the first quarter, up from $4.78 billion in the comparable quarter and from $4.13 billion in the prior quarter.
Compared with the prior quarter, income attributable to Shell shareholders was driven by the same factors as adjusted earnings and includes the impact of identified items and a current cost of supplies adjustment of $1.2 billion, Shell said.
The company sold 19.16 million tonnes of LNG in the first quarter, a rise from 16.49 million tonnes of LNG in the same period in 2025
LNG sales dropped compared to 19.79 million tonnes in the prior quarter.
More to follow..