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Shell tops profit estimates as Iran war boosts oil price, cuts share buybacks

CNBC·Sam Meredith·26 days ago
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The Shell gas logo is displayed at a gas station on April 27, 2026 in Austin, Texas. Brandon Bell | Getty Images British energy major Shell on Thursday reported stronger-than-expected first-quarter profit as the Iran war sent energy prices soaring. The oil giant posted adjusted earnings of $6.92 billion for the first three months of the year, beating analyst expectations of $6.1 billion, according to an LSEG-compiled consensus. A separate, company-provided analyst forecast had put Shell's expected first-quarter profit at $6.36 billion. Shell reported adjusted earnings of $5.58 billion over the same period a year ago and $3.26 billion over the final three months of 2025. "Shell delivered strong results enabled by our relentless focus on operational performance in a quarter marked by unprecedented disruption in global energy markets," Shell CEO Wael Sawan said in a statement.…

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