BAKU, Azerbaijan, November 3. Shell has reported adjusted earnings of $6.2 billion in the third quarter of 2023, Trend reports.
According to the company's recent financial update, this fugure increased by 24 percent, compared to the precedening quarter ($5 billion).
Shell highlighted that this growth was driven by strong operational results and favorable market conditions.
At the same time, during the reporting period, the company received Cash Flow from Operations (CFFO) of $12.3 billion - an decrease of 18.5 percent on a quarterly basis ($15.1 billion). Despite the impact of higher oil prices, Shell managed to maintain a healthy working capital inflow of $0.4 billion.
Looking ahead, Shell has set an impressive target for its total announced distributions for the year 2023, estimating them to be approximately $23 billion. Additionally, the dividend per share for this quarter has surged by an impressive 32 period compared to the same period in 2022. These developments underscore Shell's dedication to enhancing shareholder returns.
In line with its commitment to financial prudence and discipline, Shell has provided insight into its cash capital expenditure (capex) outlook for 2023, which is expected to fall within the range of $23 billion to $25 billion.