Company Report
Shell corporate - reported results analysis
This report is currently unavailable
Report summary
Shell reported solid Q4 results, with earnings up 17% on the previous quarter, and well ahead of consensus estimates. Performance was helped by another “exceptional” end to the year in LNG trading and optimisation. There was no update on strategy or messaging, with Shell reaffirming what was laid out at CMD23. And there was a degree of expectation management ahead of the company's Energy Transition Strategy update in March. While there will be additional clarity on strategy beyond 2025, including in low carbon energy solutions, we were warned not to expect much by way of new guidance and targets. Shell announced a 4% dividend increase for Q4 2023, and committed to repurchasing another US$3.5 billion of shares in Q1 2024. Shareholder distributions for 2023 amounted to US$23 billion, equivalent to 42% of reported CFFO for the year.
These reports provide unsurpassed proprietary data and analysis, underpinned by our industry leading asset models to help you understand your peers and competitors, and make the best strategic choices.
Table of contents
- Financials
- Investment and costs
- Shareholder distributions
- Financials
- Investment
- Shareholder distributions
- Disposals
- Financials
- Portfolio and strategy
- Financials
- Investment
- Trading and optimisation
- Shareholder distributions
- Financials
- Shareholder distributions
- 2023 capital investment guidance
- New CEO, new message?
- Q3 financials
- Shareholder distributions
- Guidance
- Change at the top
- Shareholder distributions
- Guidance
- Revised oil and gas price assumptions
- Throwback Thursday
- Shareholder distributions
- Guidance
- New segments
-
UK focus
- Q4 and full year 2021 results
- Shareholder distributions
- Powering Progress strategy
- 1) Q3 financial results
- 2) New emissions target
- 3) Activist investor weighs in
- Q4 results
- Shell’s 11 February Strategy Day: preview
- 2019 Results
-
Outlook
- Share buybacks and the financial framework
- Energy transition, carbon and Power
- Our take
- Other points of note
- Our take
- Other points of note
- Our take
-
Other points of note
- Our take
- Other points of note
- Our take:
- Key figures
- Key figures
- Key figures
- Key figures:
- Overview
- Investment
- Operational Performance
- Financial Performance
- M&A
- Overview
- Investment
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration
- Overview
- Investment
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration
- Overview
- Investment
- Operational Performance
- M&A / Business Development
- Exploration
- Overview
- Investment
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration
- Overview
- Investment
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration
- Overview
- Investment / Strategy
- Operational Performance
- Financial Performance
- M&A / Business Development
- Overview
- Strategy
- Investment
- Deepwater
- LNG
- Overview
- Investment / Strategy
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration
- Overview
- Investment / Strategy
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration
- Overview
- Investment / Strategy
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration
- Overview
- Investment/Strategy
- Operational Performance
- Financial Performance
- M&A
- Exploration Performance
- Overview
- Investment/Strategy
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration Performance
- Overview
- Investment/Strategy
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration Performance
- Overview
- Investment/Strategy
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration Performance
- Overview
- Investment/Strategy
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration Performance
- Overview
- Investment/Strategy
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration Performance
- Overview
- Strategy / investment
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration Performance
-
Q4 2012
- Overview
- Strategy / investment
- Operational Performance
- Financial Performance
- M&A / Business Development
- Exploration Performance
-
Q3 2012
- Overview
- Strategy / investment
- Operational performance
- Financial performance
- M&A/business development
- Exploration
-
Q2 2012
- Overview
- Strategy / investment
- Operational performance
- Financial performance
- M&A/business development
- Exploration
-
Q1 2012
- Overview
- Strategy / investment
- Operational performance
- Financial performance
- M&A/business development
- Exploration
-
Q4 2011
- Overview
- Strategy / investment
- Operational performance
- Financial performance
- M&A/business development
-
Q3 2011
- Overview
- Strategy / investment
- Operational performance
- Financial performance
- M&A/business development
- Exploration
-
Q2 2011
- Overview
- Strategy / investment
- Operational performance
- Financial performance
- M&A/business development
- Other comments
-
Q1 2011
- Strategy / investment
- Operational performance
- Financial performance
- M&A
- Exploration
-
Q4 2010
- Overview
- Guidance / Strategy
- M&A / Business development
- Exploration
- Investment / Finance
Tables and charts
This report includes 39 images and tables including:
- 1) Shell annual shareholder distributions as % of CFFO; 2) Shell quarterly dividend evolution
- Key quarterly data
- Key quarterly data
- Key quarterly data
- Key quarterly data
- Shell cash capex: 2022 breakdown and guidance for 2023 (US$ billion)
- Key quarterly data
- Shell 1) shareholder distributions and 2) corporate cash flow breakeven
- Key quarterly data
- Shell impairment testing price assumptions
- Key quarterly data
- Key quarterly data
- Key quarterly data
- Key quarterly data
- Shell historic shareholder distributions vs. WM CFFO projection (20-30% of total)
- 1) Organic free cash flow 2) vs distributions and capex (annual average, 2022-25)
- Key quarterly data
- Key quarterly data
- Shell 2020 cash capital expenditure
- Key quarterly data
- Key quarterly data
- Key quarterly data
- Key quarterly data
- Key Quarterly Data
- Key annual and quarterly data
- Shell: evolution of quarterly net income
- Shell: evolution of quarterly production
- Shell historic shareholder distributions vs. WM projection 2022 (at 20-30% of CFFO)
- Key quarterly data
- Key quarterly and full year data
- Key Quarterly Data
What's included
This report contains:
Other reports you may be interested in
Asset Report
SK318 (LNG)
Timi and Rosmari/Marjoram are Shell-operated major developments in shallow and deepwater Sarawak, with renewables-powered platforms
$3,100
Asset Report
Evelyn
The Evelyn oil and gas field is located six kilometres southwest of the Triton FPSO. Shell discovered the field in 1984. Tailwind ...
$3,100
Asset Report
Perenco-operated fields
Perenco operates an onshore portfolio of more than 10 fields in southeast Türkiye (Turkey), in the Southeast Turkey Foldbelt ...
$3,100
