Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) (SHEL) Earnings

Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares)

SHEL · NYSE

Sep 2026upcoming

Next quarter

Reports Oct 29, 2026.

Consensus is $2.85 EPS for Sep 2026 across 4 estimates, ranging $2.36 to $3.50.

SHEL Jun 2026

Reported Jul 30, 2026

: 8.98%
: +1.62%

: $3.23
: $3.52
: —
: —

Highlights

Earnings: Shell reported second-quarter 2026 EPS of $3.52, ahead of the $3.23 consensus by $0.29, or 8.98%.
Dividend: The board declared an interim dividend of $0.3906 per ordinary share, unchanged or changed versus earlier periods not specified in the supplied material.
ADS payout: The dividend is $0.7812 per ADS, reflecting that each ADS represents two ordinary shares.
Payment timing: The ADS ex-dividend date is August 14, 2026, and the dividend will be paid on September 21, 2026.
Currency options: Shareholders may elect to receive the ordinary-share dividend in US dollars, euros or pounds sterling; ADS dividends will default to US dollars.
Reinvestment: JPMorgan Chase offers a dividend reinvestment plan for ADS holders, alongside separate plans for ordinary-share holders.
Comparisons: The supplied release does not provide year-ago EPS, prior-quarter EPS, revenue, cash flow or segment results, limiting the operating read-through from the quarter.

Analysis

Shell’s second-quarter 2026 result was an earnings beat, with EPS of $3.52 versus the $3.23 consensus, a $0.29 outperformance and an 8.98% surprise. The release itself is focused almost entirely on capital returns: the board declared an interim dividend of $0.3906 per ordinary share, equivalent to $0.7812 per ADS because each ADS represents two ordinary shares. Cash payment is scheduled for September 21, 2026, following the August 14 ADS ex-dividend date.

The main limitation is the narrow disclosure supplied for this quarter. It does not include the year-ago or prior-quarter EPS figures, so the direction of earnings relative to those periods cannot be established from the material provided. Nor does it provide revenue, operating income, free cash flow, debt, buybacks or segment performance. As a result, the print is defined by the positive consensus surprise and the continuation of a cash dividend, rather than by enough operating detail to explain the earnings performance. Shareholders can elect currencies for ordinary-share dividends, while ADS cash dividends default to US dollars, and ADS holders have access to a JPMorgan dividend reinvestment plan.

Earnings surprise

Shell reported second-quarter 2026 EPS of $3.52, compared with analyst consensus of $3.23. The $0.29 beat equates to an 8.98% upside surprise. The supplied material does not identify whether the figure is GAAP or adjusted EPS and does not provide the underlying revenue, profit or segment drivers.

Reported EPS: $3.52.
Consensus EPS: $3.23.
Beat: $0.29, or 8.98%.

Quarterly dividend

Shell declared an interim dividend of $0.3906 per ordinary share for the second quarter of 2026. For ADS holders, the equivalent payment is $0.7812 per ADS, consistent with each ADS representing two ordinary shares. The supplied material does not state the prior-quarter or year-ago dividend, so no change in the payout can be calculated.

Ordinary-share dividend: $0.3906.
ADS dividend: $0.7812.
ADS ex-dividend date: August 14, 2026.
Payment date: September 21, 2026.

Shareholder elections

Ordinary shareholders may elect to receive the dividend in US dollars, euros or pounds sterling. The pound sterling and euro equivalents will be announced on September 7, 2026. ADS cash dividends will be paid by default in US dollars, and the currency-election deadline for ordinary shareholders is 11:00 a.m. GMT on August 28, 2026, subject to intermediary-specific deadlines.

Currency choices: US dollars, euros or pounds sterling for ordinary shares.
ADS default: US dollars.
Currency-equivalent announcement: September 7, 2026.
Election deadline: 11:00 a.m. GMT on August 28, 2026.

Dividend reinvestment

Shell shareholders can elect to reinvest their dividends through third-party dividend reinvestment plans. JPMorgan Chase provides the plan for ADS holders, while Equiniti serves direct and CREST ordinary-share holders and ABN-AMRO serves financial intermediaries holding through Euroclear Nederland.

ADS DRIP provider: JPMorgan Chase Bank.
Eligibility: A valid reinvestment election must be made before the relevant published closing date.
Provider structure: The DRIPs are offered on the providers’ own accounts, not on behalf of Shell.

Symbol: SHEL
Type: Stock
Sector: Energy
Industry: Crude Petroleum & Natural Gas
Exchange: NYSE

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.

Key Issues

Bullish view

Buybacks are repeatedly identified as a support for Shell’s stock and valuation, and reducing the share count can increase each remaining share’s exposure to earnings and cash generation.

Bearish view

The evidence establishes buybacks as a price catalyst but does not establish their scale or durability; sustained valuation support therefore depends on continued capital returns rather than a demonstrated improvement in operating results.

Analyst Consensus

See all

Hold

11 analysts

$96

Current

—

Low

$101

Average

—

High

Average target implies +4.20% versus the current price.

Earnings History

BeatMissNo estimate