Shell (SHEL LN) Q1 (USD): Total Revenue 74.4bln (exp. 89.9bln), adj. EBITDA 18.71bln (exp. 16.82bln), adj. EPS 1.20 (exp. 1.09), Net Income 7.4bln (exp. 6.5bln), FCF 9.8bln

• 
  New share buyback programme of USD 3.5bln, expected to be completed by the Q2 2024 announcement (due August 1st).

Q2 Outlook

• Cash capital expenditure for FY24 is expected to be within USD 22-25bln


• Integrated Gas production is expected to be approximately 920 - 980k boe/d. LNG liquefaction volumes are expected to be approximately 6.8 - 7.4mln/T. Production and LNG liquefaction outlook reflects seasonality (higher maintenance).


• Upstream production is expected to be approximately 1,630 - 1,830k boe/d. Production outlook reflects the scheduled maintenance across the portfolio.


• Marketing sales volumes are expected to be approximately 2,700 - 3,200k BPD.


• Refinery utilisation is expected to be approximately 87% - 95%. Chemicals manufacturing plant utilisation is expected to be approximately 72% - 80%.

via Shell

Analysis details (07:00)

Index Weightings: 

• AEX: 15.6% (second largest)


• FTSE 100: 8.7% (largest)


• Stoxx 600: 1.9% (fifth largest)

02 May 2024 - 07:00- EquitiesImportant- Source: Newswires