The Anglo-Dutch multinational Shell reported a net profit of 4.291 billion dollars (3.958 billion euros) during the third quarter, a 39% decline compared to the same period last year.
In addition to the impacts of lower prices and margins, Shell's results reflect internal challenges. The company has launched a share buyback program worth 3.000 billion dollars, continuing a strategy to boost investor confidence and maintain its market value.
In the first nine months of 2024, Shell reported a 19.7% reduction in its profits, reaching a net profit of 15.166 billion dollars (13.991 billion euros). Factors such as the decrease in refining margins and gas prices contributed to this revenue decline.
Shell's CEO, Wael Sawan, emphasized that despite the challenges, the company achieved solid results and remains committed to generating value sustainably and with low emissions. Shell has announced a new share buyback plan of 3.500 billion dollars to maintain shareholder interest.
For the next three months, Shell plans a share buyback program of up to 3.500 billion dollars, reinforcing its commitment to generating value for shareholders. Revenues in the third quarter have also experienced a decrease of 7.1%, reaching 72.462 billion dollars (66.849 billion euros).
