Shell First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Shell (LON:SHEL) First Quarter 2024 Results

Key Financial Results

• Revenue: US$74.7b (down 14% from 1Q 2023).
• Net income: US$7.36b (down 16% from 1Q 2023).
• Profit margin: 9.8% (in line with 1Q 2023).
• EPS: US$1.14 (down from US$1.26 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Shell EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 18%. Earnings per share (EPS) exceeded analyst estimates by 3.9%.

Looking ahead, revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Oil and Gas industry in the United Kingdom.

Performance of the British Oil and Gas industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Shell that you need to be mindful of.

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