Oil giant Shell posts full-year profit beat, announces $3.5 billion share buyback
Publishing timestamp: 2024-02-01 04:29:37
Summary
Shell reported a 29% drop in full-year profit but beat expectations with adjusted earnings. The company announced a 4% increase in dividend and a $3.5 billion share buyback program. Shell's CEO emphasized the company's focus on balance sheet strength, shareholder distributions, and commitment to net-zero emissions. Analysts believe Shell will continue to be resilient in a volatile energy market.
Sentiment: MIXED
Tickers: SHEL-GB, TTE-FR, @LCO.1, @CL.1, CVX, BP, XOM,
Keywords: energy, totalenergies se, earnings, breaking news: europe, oil and gas, business news,
Source: https://www.cnbc.com/2024/02/01/shell-beats-expectations-for-full-year-2023-profit.html