0716 GMT - Shell reported solid first-quarter earnings that beat consensus expectations and continued its track record of returning capital to shareholders, RBC Capital Markets analysts Biraj Borkhataria and Adnan Dhanani write. The London-listed energy giant said it would buy back $3.5 billion of shares over the quarter. The strength of its balance sheet suggests it should have room to continue delivering returns even if the macroeconomic environment was to weaken further, they write. The beat to expectations was due to improved results across its upstream and marketing divisions plus a strong oil trading result, they add. Shares trade up 2.4% at 2,496.5 pence. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
May 02, 2025 03:16 ET (07:16 GMT)
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