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Shell PLC SHEL Stock Quote

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Morningstar‘s Stock Analysis SHEL

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Shell's Earnings Improve Further in Second Quarter; Boosts Repurchase Amount for Third Quarter

Allen Good, CFA Sector Strategist

Analyst Note

| Allen Good, CFA |

Shell reported second-quarter results that surpassed market expectations and continued to improve from previous quarters. Thanks to high oil and natural gas prices during the quarter and strong power trading results, adjusted earnings soared to $11.5 billion from $5.5 billion a year ago. Adjusted earnings exclude $4.3 billion of post-tax impairment reversals and $1.0 billion of mark-to-market gains. Operating cash flow before working capital improved materially to $23.0 billion from $14.2 billion last year, resulting in organic free cash flow of $13.7 billion. Year to date, Shell has nearly doubled organic free cash flow from the same period last year.

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Key Statistics SHEL

Company Profile SHEL

Business Description

Shell is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2021, it produced 1.7 million barrels of liquids and 8.7 billion cubic feet of natural gas per day. At year-end 2021, reserves stood at 9.2 billion barrels of oil equivalent, 50% of which consisted of liquids. Its production and reserves are in Europe, Asia, Oceania, Africa, and North and South America. The company operates refineries with capacity of 1.8 mmb/d located in the Americas, Asia, Africa, and Europe and sells 15 mtpa of chemicals. Its largest chemical plants, often integrated with its local refineries, are in Central Europe, China, Singapore, and North America.

Shell Centre
London, SE1 7NA, United Kingdom
Sector Energy
Industry Oil & Gas Integrated
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 82,000