Shell plc: EPS $3.86 vs $3.60 expected; revenue $92.9B vs $93.3B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 3.86 | 3.60 | +7.2% | 1.86 |
| Revenue (USD bn) | 92.85 | 93.25 | −0.4% | 67.74 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Oct 29, 2026 | Q3 FY2026 | 3.86 | 3.60 | +7.2% | 92.85 | 93.25 | −0.4% |
| Jul 30, 2026 | Q2 FY2026 | 3.52 | 3.23 | +9.0% | 94.66 | 86.22 | +9.8% |
| May 7, 2026 | Q1 FY2026 | 2.44 | 2.14 | +14.0% | 69.69 | 77.54 | −10.1% |
| Feb 5, 2026 | Q4 FY2025 | 1.14 | 1.21 | −5.8% | 64.09 | 62.64 | +2.3% |
| Oct 30, 2025 | Q3 FY2025 | 1.86 | 1.72 | +8.1% | 67.74 | 67.73 | 0.0% |
| Jul 31, 2025 | Q2 FY2025 | 1.42 | 1.13 | +25.7% | 65.41 | 70.23 | −6.9% |
| May 2, 2025 | Q1 FY2025 | 1.84 | 1.54 | +19.5% | 69.23 | 70.86 | −2.3% |
| Jan 30, 2025 | Q4 FY2024 | 1.20 | 1.74 | −31.0% | 66.28 | 65.02 | +1.9% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
Shell plc results: EPS $3.86 vs $3.60 expected; revenue $92.9B vs $93.3B. The results cover the company's Q3 FY2026. EPS came in above analysts' estimate by 7.2%; revenue below the estimate by 0.4%.
Revenue was up 37.1% from $67.7 billion a year earlier (Q3 FY2025). EPS was up 107.5% from $1.86 a year earlier. On its record, EPS topped analysts' estimates in 5 of 7 earlier comparable reports.
What the results mean
Shell plc’s results should be read in the context of an integrated business spanning oil and gas extraction, refining, chemicals, marketing and trading. This diversity makes each activity’s contribution important, because changes in revenue alone do not explain how profitability takes shape.
Business drivers include oil and gas prices, production volumes, and margins from converting crude into fuels and chemical products. Liquefied natural gas, trading and marketing also provide income streams with drivers that differ from extraction, making the activity mix and operating costs important to understanding the results.
What to watch on the earnings call: The earnings call merits attention for management’s explanation of how liquefied natural gas, trading, refining and chemicals contribute to profitability, and how demand and operating costs affect their margins. Spending priorities and resource allocation across production, infrastructure and energy solutions also warrant attention.
For the full analysis of Shell plc stock — valuation, scores and financial statements — see the stock page linked with this story.