Shell plc experienced a boost in profits in third-quarter 2025, with adjusted earnings at $5.4 billion, compared to the $4.2 billion the energy giant posted in second-quarter 2025, the company reported in its earnings call Thursday.
“Shell delivered another strong set of results, with clear progress across our portfolio and excellent performance in our marketing business and deepwater assets in the Gulf of America and Brazil,” CEO Wael Sawan said in a statement Thursday. “Despite continued volatility, our strong delivery this quarter enables us to commence another $3.5 billion of buybacks for the next three months.”
The company reported adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) at $14.8 billion versus second-quarter 2025 EBITDA at $13.3 billion. The company reported that net debt for third-quarter 2025 was down to $41.2 billion, compared to $43.2 billion for second-quarter 2025.
The London-based company declared a buyback program of $3.5 billion, making this the 16th consecutive quarter of at least $3 billion of buybacks.
Once this program is completed, “we will have repurchased more than a quarter of our shares over the last four years,” Shell CFO Sinead Gorman told investors on the earnings call, according to a transcript from financial services site AlphaSense.
The company also reported that “marketing delivered its second-highest quarterly adjusted earnings in over a decade.”
- Shell is No. 39 on CSP’s 2025 Top 202 ranking of U.S. convenience-store chains by store count.
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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