10/27/2022, 8:09 AM (Source: TeleTrader)
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Shell's Q3 income come in at $6.74 billion

Shell PLC announced on Thursday that its income attributable to shareholders in the third quarter of the year reached $6.74 billion, improving significantly from losses of $447 million registered in the same period in 2021.

The oil company's adjusted earnings surged by 128.91% on an annual basis to $9.45 billion. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 59.82% year-on-year to stand at $21.51 billion. Shell's adjusted earnings per share (EPS) soared by 145.28% compared to the same quarter in 2021, hitting $1.30 per share.

"We are delivering robust results at a time of ongoing volatility in global energy markets. We continue to strengthen Shell's portfolio through disciplined investment and transform the company for a low-carbon future. At the same time we are working closely with governments and customers to address their short and long-term energy needs," Chief Executive Officer (CEO) Ben van Beurden commented.

Baha Breaking News (BBN) / JR