Shell Global(US:SHEL) Globenewswire·2026-02-05 07:01Core Insights - 2025 was a year of accelerated momentum for Shell, achieving strong operational and financial performance with a free cash flow of $26 billion and $5 billion in cost savings since 2022 [1][3] - The company announced a 4% increase in its dividend and a $3.5 billion share buyback, marking the 17th consecutive quarter of buybacks exceeding $3 billion [2][4] Financial Performance - Q4 2025 Adjusted Earnings were $3.3 billion, with Cash Flow from Operations (CFFO) of $9.4 billion, supported by strong performance in Upstream and Integrated Gas despite a lower price environment [2][3] - Full year CFFO for 2025 was resilient at $42.9 billion, with shareholder distributions around 52% of CFFO [3] - The company maintained a strong balance sheet with net debt of approximately $45.7 billion and a gearing ratio of 20.7% [3] Cost Management and Capital Allocation - Structural cost reductions of $5.1 billion were achieved since 2022, with $2 billion delivered in 2025 [3] - Cash capital expenditure for 2025 was $20.9 billion, with an outlook for 2026 set between $20 billion and $22 billion [3] Strategic Portfolio Actions - Significant strategic actions included exits from Nigeria Onshore, Canadian Oil Sands, and Singapore Chemicals & Refinery, while enhancing Integrated Gas and Upstream portfolios through acquisitions [4][13] Segment Performance - Integrated Gas reported Adjusted Earnings of $1.661 billion in Q4 2025, with production of 948 kboe/d and LNG sales volumes of 19.8 MT [5][9] - Upstream Adjusted Earnings were $1.570 billion, with total production of 1,892 kboe/d [5][10] - Marketing segment Adjusted Earnings were $578 million, reflecting seasonally lower volumes [5][11] - Chemicals & Products reported Adjusted Earnings of $(0.066) billion, with a decline in chemicals sales volumes by 22% year-over-year [5][18] Future Outlook - The company anticipates continued strong performance in 2026, with production and sales volumes expected to remain stable [10][11]