Shell hits 2-year profit high but shares drop on revenue miss and rising debt

Shell reported adjusted earnings of $2.44 per share, beating estimates, with a two-year high profit of $6.9 billion. However, revenue fell short at $69.69 billion versus the expected $80.95 billion, and net debt rose to $52.6 billion. The company slowed its share buyback program to conserve cash amid supply disruptions linked to the Middle East conflict. Shell also announced a new $3 billion buyback plan and increased its dividend by 5%. The recent acquisition of ARC Resources is expected to boost production growth through 2030.