Shell posts best quarterly profit in four years with $9.84 billion adjusted earnings in Q2 2026

Britain's Shell reported on Thursday 30 July 2026 that its adjusted second quarter earnings reached $9.84 billion, above the $8.79 billion analyst consensus compiled by LSEG. That compares with $4.26 billion in the second quarter of 2025 and $6.92 billion in the first quarter of 2026, and is Shell's best quarterly result since the second quarter of 2022, when the company posted $11.47 billion.

According to Shell's report, cash flow from operations reached $21.4 billion in the second quarter of 2026, while net debt fell to $41.75 billion from $52.6 billion at the end of the first quarter. Shell said it would maintain the pace of its share buyback programme at $3 billion over the next quarter and left its 2026 capital expenditure outlook unchanged at $24 billion to $26 billion.

Chief Executive Wael Sawan said volatility had become the new normal and that high commodity prices provided a tailwind for the results. The jump in oil and gas prices during the regional war has lifted profits at the energy majors, which matters for Iran's market through the global oil price channel.