Shell expected to post strong Q3 earnings on higher commodity prices and refining margins
Shell will release its third‑quarter results on Oct. 29. Consensus forecasts call for earnings per share of $3.67, up 97.3% year‑over‑year, and revenue of $100.86 billion, up 48.0% year‑over‑year. The company raised its integrated gas production outlook to 740,000‑780,000 boepd and projects an indicative refining margin of $42 per barrel, versus $24 in the prior quarter. Analysts also note adjusted earnings of $10.24 billion, a 4% increase from Q2, and an EPS estimate of $3.55 from Mizuho.
Why it matters
The consensus expects a significant earnings beat, driven by higher commodity prices and stronger refining margins, which could lift Shell’s share price. Analysts such as Jefferies and Mizuho highlight the margin improvement as a key catalyst for earnings growth.
Key facts
- 1Consensus EPS estimate is $3.67, a 97.3% year‑over‑year increase. tradingview.com
- 2Consensus revenue estimate is $100.86 billion, a 48.0% year‑over‑year increase. tradingview.com
- 3Shell raised its integrated gas production forecast to 740,000‑780,000 boepd for Q3. tradingview.com
- 4Indicative refining margin is projected at $42 per barrel, up from $24 per barrel in Q2. tradingview.com
- 5Jefferies forecasts adjusted earnings of $10.24 billion for Q3, up 4% from Q2. investing.com
- 6Mizuho projects adjusted EPS of $3.55 for Q3, above the consensus estimate of $3.16. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.