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Shell (SHEL) Reports Q3 Earnings: What Key Metrics Have to Say

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For the quarter ended September 2025, Shell (SHEL - Free Report) reported revenue of $70.41 billion, down 2.8% over the same period last year. EPS came in at $1.86, compared to $1.92 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $74.85 billion, representing a surprise of -5.94%. The company delivered an EPS surprise of +8.14%, with the consensus EPS estimate being $1.72.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Shell performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • INTEGRATED GAS - Realised gas price ($/thousand scf): $7.30 versus the three-analyst average estimate of $6.72.
  • INTEGRATED GAS - Total production available for sale per day: 934.00 KBOE/D versus the three-analyst average estimate of 937.23 KBOE/D.
  • INTEGRATED GAS - LNG liquefaction volumes (MT): 7.30 MTon versus the three-analyst average estimate of 7.08 MTon.
  • INTEGRATED GAS - Realised liquids price ($/bbl): $58.00 versus the three-analyst average estimate of $58.66.
  • INTEGRATED GAS - Natural gas production available for sale per day: 4,667.00 Mcf/D versus 4,631.53 Mcf/D estimated by three analysts on average.
  • INTEGRATED GAS - Liquids production available for sale per day: 130.00 KBOE/D versus the three-analyst average estimate of 138.69 KBOE/D.
  • CHEMICALS & PRODUCTS - Global indicative refining margin ($/bbl): $11.60 versus the three-analyst average estimate of $9.70.
  • CHEMICALS & PRODUCTS - Refinery utilisation (%): 96% compared to the 93.6% average estimate based on three analysts.
  • CHEMICALS & PRODUCTS - Chemicals sales volumes (kT): 2,147.00 KTon versus 3,054.85 KTon estimated by three analysts on average.
  • CHEMICALS & PRODUCTS - Refinery processing intake (kb/d): 1,176.00 Kboe/Day versus the three-analyst average estimate of 1,269.71 Kboe/Day.
  • UPSTREAM - Total production (kboe/d): 1,832.00 Kboe/Day versus 1,837.28 Kboe/Day estimated by three analysts on average.
  • UPSTREAM - Realised liquids price ($/bbl): $64.00 versus the three-analyst average estimate of $58.86.

View all Key Company Metrics for Shell here>>>

Shares of Shell have returned +4.3% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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