"Shell delivered another quarter of strong operational and financial performance, capturing opportunities in volatile
commodity markets. We continue to simplify our portfolio while delivering more value with less emissions.
Shell is commencing a $3.5 billion buyback programme for the next three months, bringing the buybacks for the second half
of 2023 to $6.5 billion, well in excess of the $5 billion announced at Capital Markets Day in June. This takes total announced
shareholder distributions for 2023 to ~$23 billion."
CONSISTENT PERFORMANCE, SUPPORTING ENHANCED DISTRIBUTIONS
• Q3 2023 Adjusted Earnings of $6.2 billion, reflecting robust operational performance and higher oil prices and refining
margins. CFFO of $12.3 billion for the quarter, with a $0.4 billion working capital inflow, despite higher oil prices.
• Enhancing shareholder distributions with $3.5 billion share buybacks announced, expected to be completed by Q4 2023
results announcement. Total announced distributions for 2023 ~$23 billion, with dividend per share this quarter being 32%
higher than in Q3 2022.
• Demonstrating capital discipline with cash capex outlook for 2023 of $23 - 25 billion.
$ million Adj. Earnings1 Adj. EBITDA1
CFFO Cash capex
Integrated Gas 2,529 4,871 4,009 1,099
Upstream 2,221 7,412 5,336 2,007
Marketing 720 1,519 880 917
Mobility 456 988 669
Lubricants 226 425 86
Sectors & Decarbonisation 38 106 163
Chemicals & Products 1,380 2,591 2,379 879
Chemicals (329) 34 486
Products 1,710 2,557 393
Renewables & Energy Solutions (67) 79 (34) 659
Corporate (482) (136) (238) 87
Less: Non-controlling interest (NCI) 77
Shell
Q3 2023 6,224 16,336 12,332 5,649
Q2 2023 5,073 14,435 15,130 5,130
1
Income/(loss) attributable to shareholders for Q3 2023 is $7.0 billion. Reconciliation of non-GAAP measures can be found in the unaudited results, available on www.shell.com/investors.

see & read more on
https://www.shell.com/investors/results-and-reporting/quarterly-results/latest-results/_jcr_content/root/main/section/simple/call_to_action_copy_/links/item0.stream/1698884782483/509b6a41bee1c016b10f6b3e317e4dac20004419/q3-2023-quarterly-press-release.pdf