Shell Q2 FY26 adjusted earnings rise to $9.84 billion; IFRS net income climbs to $10.8 billion

• Shell posted Q2 2026 IFRS net income attributable to shareholders of USD 10.8 billion, with adjusted earnings (non-GAAP) at USD 9.84 billion.
• Adjusted EBITDA (non-GAAP) rose to USD 20.71 billion from USD 17.74 billion in Q1 2026, while CFFO (non-GAAP) climbed to USD 21.43 billion from USD 6.06 billion.
• Free cash flow (non-GAAP) increased to USD 17.5 billion from USD 2.9 billion, supported by a USD 3.4 billion working-capital inflow.
• Net debt fell to USD 41.8 billion from USD 52.6 billion; gearing stood at 19%.
• Shell launched a USD 3 billion share buyback, while ARC Resources’ acquisition won shareholder approval with completion expected in Q3 2026.

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