Shell壳牌第三季度调整后盈利108亿美元创2022年以来最高，经营现金流210亿美元，宣布50亿美元回购
能源巨头 Shell（壳牌）10月29日在 London 公布2026年第三季度业绩：季度调整后盈利为108.14亿美元，高于去年同期的54.3亿美元，也高于公司汇总的市场一致预期103.3亿美元，为2022年以来最高季度水平；季度营收928.5亿美元，同比增长36%。
现金流方面，公司第三季度经营活动现金流（CFFO）为210.43亿美元，尽管中东地区有装置停产仍大幅高于去年同期的122.1亿美元；调整后 EBITDA 为227.36亿美元。分部看，综合天然气分部调整后盈利30.37亿美元，化工与产品分部盈利38.55亿美元、创该分部纪录，公司称炼油利润率达到每桶42美元的纪录水平；上游分部盈利31.89亿美元。
首席执行官 Wael Sawan 表示，Shell 对运营绩效的持续专注使公司在一个全球能源体系继续严重受扰的季度里取得非常强劲的业绩；公司已完成对 ARC Resources Ltd. 的收购，并就 LNG Canada 二期作出最终投资决定，继续投资其具优势的综合天然气业务，以支持长期现金流增长。
股东回报方面，公司宣布在未来三个月实施50亿美元的股份回购计划，高于此前的每季30亿美元节奏。公司同时表示，2026年现金资本开支展望（含 ARC 收购）为230亿至250亿美元；收购 ARC 后公司杠杆率为16.6%（不含租赁为2.7%）。当季公司还完成美国 Mobility 业务收购、高配电力资产组合，并剥离在美国与塞浦路斯的非核心油气资产。
Shell Q3 Adjusted Earnings Hit $10.8 Billion, Highest Since 2022, with $21.0 Billion Cash Flow and a $5 Billion Buyback
Shell reported third-quarter 2026 results on October 29 in London. Adjusted earnings were $10.814 billion, up from $5.43 billion a year earlier and above the company-compiled consensus of $10.33 billion, the highest quarterly level since 2022. Revenue rose 36% year over year to $92.85 billion.
Cash flow from operations was $21.043 billion despite outages in the Middle East, well above $12.21 billion a year earlier, and adjusted EBITDA was $22.736 billion. Integrated Gas adjusted earnings were $3.037 billion, while Chemicals & Products earned a record $3.855 billion, with Shell citing record refining margins of $42 a barrel. Upstream adjusted earnings were $3.189 billion.
Chief Executive Officer Wael Sawan said Shell's relentless focus on operational performance enabled very strong results in a quarter with continued severe disruption to the global energy system, and that the completion of the ARC Resources Ltd. acquisition and the final investment decision on LNG Canada Phase 2 support long-term cash flow growth in its advantaged Integrated Gas business.
Shell announced a $5 billion share buyback programme for the next three months, up from a $3 billion quarterly pace. The company put its 2026 cash capital expenditure outlook, including ARC, at $23 billion to $25 billion, and said post-acquisition gearing was 16.6%, or 2.7% excluding leases. During the quarter it also completed the US Mobility acquisition, high-graded its power portfolio and divested non-core oil and gas assets in the US and Cyprus.
来源：GSM·美国（原文链接）
图片来源：图：Shell 位于荷兰 Rotterdam 附近 Pernis 的炼油厂，Shell 是全球主要能源公司之一。照片：Steven Lek 摄，CC BY-SA 4.0，经 Wikimedia Commons。 / Shell's Pernis refinery near Rotterdam in the Netherlands. Photo: Steven Lek, CC BY-SA 4.0, via Wikimedia Commons.
