Shell plc experienced a decline in profits in second-quarter 2025, with adjusted earnings at $4.3 billion compared to the $5.6 billion the energy giant posted in first-quarter 2025.
Despite the lower earnings for this quarter, the London-based company declared a buyback program, making this the 15th consecutive quarter of at least $3 billion of buybacks.
“Our continued focus on performance, discipline and simplification helped deliver $3.9 billion of structural cost reductions since 2022, with the majority delivered through non-portfolio actions,” CEO Wael Sawan said in a statement Thursday. “This focus enables us to commence another $3.5 billion of buybacks for the next three months, the 15th consecutive quarter of at least $3 billion in buybacks.”
The company reported adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) at $13.3 billion versus first-quarter 2025 EBITDA at $15.3 billion. Shell said it achieved some $800 million in structural cost reductions, bringing the total since 2022 to $3.9 billion.
During the question-and-answer session of the call, Sawan was asked about acquisitions.
“The bar continues to be high,” Sawan said, according to a transcript from AlphaSense. “As I've said in the past, we will make the appropriate moves at the right point in time when we see value.”
In June, Shell denied claims regarding merger talks with Chicago-based bp.
- Shell is No. 39 on CSP’s 2025 Top 202 ranking of U.S. convenience-store chains by store count. bp is No. 5.
Shell serves about 8 million customers per day with a brand presence at approximately 12,000 gas stations across 49 states. It owns and operates nearly 200 convenience retail sites. Globally, Shell serves around 32 million customers per day at its mobility sites, who visit for quality fuels, electric vehicle (EV) charging and convenience and non-fuel products and services.
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