Shell Q4 Decline

Shell Plc reported fourth‑quarter adjusted net income of $3.26 billion, down 11 % year‑over‑year and below the consensus estimate of $3.5 billion. The decline was largely driven by an 18 % drop in 2025 oil prices and continued losses in its chemicals business. Net income for the quarter rose to $4.1 billion, a sharp improvement on $928 million a year earlier, while revenue totaled $66.7 billion and adjusted EBITDA fell to $12.7 billion. Cash flow from operations reached $9.44 billion, below the $13.16 billion generated in the same quarter last year. Net debt increased to $45.7 billion from $41.2 billion, raising gearing to 20.7 % in 2025 from 17.7 % the previous year.