Shell Posts Annual Profit Record of $40 Billion and Launches $4 Billion Buyback

Shell


the oil and gas giant, posted a record annual profit of $40 billion and announced a new $4 billion share buyback program Thursday, sending the stock higher.

British energy giant


Shell


(ticker: SHEL.U.K.) reported adjusted earnings per share of $1.39 in the final three months of 2022, beating analysts’ consensus of $1.15, according to FactSet. Revenue rose 19% to $101.3 billion, topping estimates of $94.3 billion.