Filing Flows › Shell (SHEL) › Q1 2025
Shell (SHEL) Q1 2025 earnings results (first quarter 2025)
6-K filed May 2, 2025
Shell (SHEL) reported revenue of $69.2B for the first quarter 2025 (Q1 2025), -4% from a year earlier. Operating margin was 12.9%, net earnings $4.8B (6.9% of revenue).
Shell, Q1 2025: revenue $69.2B (-4% year over year), operating margin 12.9%, net earnings $4.8B, operating cash flow $9.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $69.2B | — | -4% |
| Operating profit | $9.0B | — | -19% |
| Net earnings | $4.8B | — | -35% |
| Operating cash flow | $9.3B | — | -30% |
What changed
Revenue was $69.2B in Q1 2025, down 4% year over year.
Operating profit was $9.0B, a 12.9% margin (down 2.3 points year over year). Total costs fell 2% while revenue fell 4%. Net earnings were $4.8B, down 35% year over year. The effective tax rate was 45.6%.
Operating cash flow was $9.3B (down 30% year over year), 190% of net earnings. Working capital and other items added $4.4B.
Questions
What was Shell's revenue in the first quarter 2025?
Shell (SHEL) reported revenue of $69.2B for the first quarter 2025 (Q1 2025), -4% from a year earlier.
Was Shell profitable in the first quarter 2025?
Operating profit was $9.0B (12.9% of revenue) and net earnings $4.8B.
Source: Shell 6-K on SEC EDGAR.