Shell plc (SHEL) Misses Q4 EPS by 11c; offers outlook

Shell plc (NYSE: SHEL) reported Q4 EPS of $1.12, $0.11 worse than the analyst estimate of $1.23. Revenue for the quarter came in at $64.09 billion versus the consensus estimate of $62.87 billion.

OUTLOOK FOR THE FIRST QUARTER 2026

"Full year 2025 cash capital expenditure was $21 billion. Our cash capital expenditure for the full year 2026 is expected to be $20 - $22 billion."
Integrated Gas production is expected to be approximately 920 - 980 thousand boe/d. LNG liquefaction volumes are expected to be approximately 7.4 - 8.0 million tonnes.
Upstream production is expected to be approximately 1,700 - 1,900 thousand boe/d.
Marketing sales volumes are expected to be approximately 2,550 - 2,750 thousand b/d.
Refinery utilisation is expected to be approximately 90% - 98%. Chemicals manufacturing plant utilisation is expected to be approximately 79% - 87%.
Corporate Adjusted Earnings were a net expense of $567 million for the fourth quarter 2025.
Corporate Adjusted Earnings are expected to be a net expense of approximately $400 - $600 million in the first quarter 2026.

For earnings history and earnings-related data on Shell plc (SHEL) click here.

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