Shell (RDS.B, RDS.A) Q4 Profit Up; Adj. EBITDA and Revenues Fall, $3.5 Bln Share Buyback Announced

Shell reported Q4 profit up 43% to $13.6 billion, but adjusted EBITDA and revenue declined. Adj. EBITDA fell 12% to $14.9 billion, and revenue dropped 3.2% to $35.8 billion. The company announced a $3.5 billion share buyback program, effective immediately, as part of its capital return plan. Management attributed the decline in adjusted metrics to lower oil prices and reduced refining margins, while maintaining its guidance for 2026 capital spending of $20 billion.