Shell Announces Q2 Results and Share Buyback

Shell (UK) (GB:SHEL) has released an update.

Shell (UK) reports a decrease in Q2 2024 income due to lower trading margins and volumes, with net debt falling to $38.3 billion, and gearing at 17.0%. The company saw a net loss of $2.7 billion due to various charges, yet declared dividends of $0.3440 per share and announced a new $3.5 billion share buyback program. Structural cost reductions have led to $1.7 billion in savings compared to 2022, contributing to a robust operating cash flow of $26.8 billion for the first half of 2024.

For further insights into GB:SHEL stock, check out TipRanks’ Stock Analysis page.