Oil giant Shell smashes expectations as profits more than double in second quarter

The oil giant posted adjusted earnings of $9.84 billion for the April to June period, comfortably beating analyst expectations of $8.79 billion, according to an LSEG-compiled consensus. A separate, company-provided analyst forecast had put Shell’s expected second-quarter profit at $8.92 billion.

Shell reported adjusted earnings of $4.26 billion over the same period a year ago and $6.92 billion over the first three months of 2026.

The bumper result comes as energy majors receive a profit boost from soaring fossil fuel prices amid the Iran war. The U.S. on Wednesday launched its first airstrike in the Middle East since pausing its bombing campaign last week.

U.S. Central Command described the strikes as a “powerful response” to Tuesday’s attempted Iranian attacks on American forces in the Middle East.

London-listed shares of Shell have jumped around 21% so far this year, although the company lags the likes of Britain’s BP and France’s TotalEnergies, as well as U.S. majors Exxon Mobil and Chevron.

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