Shell plc revealed on Thursday that its profit in the fourth quarter of fiscal 2024 amounted to $3.66 billion, sliding 50% compared to the same timeframe in 2023. Meanwhile, on an annual basis, income attributable to the firm's shareholders came in at $928 million, soaring 96%, while basic earnings per share grew from $0.07 to $0.15.
For the entire fiscal 2024, profit stood at $23.7 billion, down some 16% year over year. In addition, income attributable to Shell shareholders tumbled 17% to $16.1 billion, while basic earnings per share fell 11% to $2.55. The company announced a $3.5 billion share buyback program and a 4% dividend increase.
"2024 was another year of strong financial performance across Shell. Despite the lower earnings this quarter, cash delivery remained solid and we generated free cash flow of $40 billion across the year, higher than 2023, in a lower price environment," CEO Wael Sawan shared.