What were Shell's adjusted earnings for Q2, and how do they compare to both analyst expectations and the prior-year quarter?

Shell's adjusted earnings for Q2 were $9.84 billion, exceeding the analyst consensus expectation of $8.92 billion and more than doubling from $4.26 billion in the same quarter last year.

What key factors drove Shell's stronger Q2 earnings despite lower sales volumes?

Higher oil and gas prices, stronger LNG and oil trading performance, and improved chemicals margins supported Shell's Q2 earnings, offsetting lower sales volumes caused by disruptions to its Qatar operations during the Middle East conflict.

Shell More Than Doubles Profit in Q2, Beating Expectations

Jul 29, 2026

Shell reported adjusted earnings of $9.84 billion in Q2, more than doubling year-over-year profits driven by higher oil and gas prices and improved chemicals margins.

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