Shell Plc (NYSE:SHEL) stock fell on Thursday after the company reported mixed first-quarter fiscal 2026 results. Stronger earnings and a higher dividend were offset by weaker-than-expected revenue, rising debt, and a reduced share buyback program.

Details

Adjusted earnings per American Depositary Share came in at $2.44, ahead of the consensus estimate of $2.13.

However, revenue fell short at $69.69 billion, compared with analysts' forecast of $80.95 billion.

Adjusted earnings rose significantly to $6.9 billion, from $3.26 billion in the last quarter on strong performance across the business. As per Reuters, the company achieved its highest adjusted earnings in two years.

Shell generated $6.1 billion in cash flow from operations during the quarter.

At the end of the quarter, net debt stood at $52.6 billion, up from $45.7 billion in the fourth quarter.

Shell Segment Performance

Integrated Gas production fell 4% quarter over quarter to 909,000 barrels of oil equivalent per day. LNG liquefaction volumes edged up 1% sequentially to 7.86 million metric tons. Production was impacted by the Middle East conflict on Qatari volumes.

Realized liquids prices further rose to $77 per barrel from $55 per barrel in the last quarter. Gas prices ...