Shell's Solid Q3 Performance: Strong Revenue, $3.5 Billion Buyback, And Refined Capex Guidance

Shell plc (NYSE:SHEL) shares are trading higher after it reported third-quarter results.

Revenue of $71.09 billion beat the consensus of $61.34 billion. 

Total production at Integrated Gas fell 4% quarter over quarter (Q/Q) to 941 kboe/d, and Upstream rose 2% Q/Q at 1,811 kboe/d. 

Meanwhile, sales volumes at Marketing rose 3% Q/Q to 2,945 thousand b/d, and Refinery processing intake at Chemical & Products declined 9% Q/Q to 1,305 kb/d.

Related: Shell Raises Q3 Upstream Production Outlook, Revises Integrated Gas Guidance

Adjusted earnings decreased 4% Q/Q to $6.03 billion and Adj. EBITDA fell 5% Q/Q to $16.01 billion. This decline was due to lower refining margins, the decline in realized oil prices, and higher operating expenses.

Net income attributable to Shell plc ...