Filing Flows › Shell (SHEL) › Q1 2026
Shell (SHEL) Q1 2026 earnings results (first quarter 2026)
6-K filed May 7, 2026
Shell (SHEL) reported revenue of $69.7B for the first quarter 2026 (Q1 2026), +9% from a year earlier. Operating margin was 13.4%, net earnings $5.8B (8.3% of revenue).
Shell, Q1 2026: revenue $69.7B (+9% year over year), operating margin 13.4%, net earnings $5.8B, operating cash flow $6.1B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $69.7B | — | +9% |
| Operating profit | $9.3B | — | +35% |
| Net earnings | $5.8B | — | +38% |
| Operating cash flow | $6.1B | — | -36% |
What changed
Revenue was $69.7B in Q1 2026, up 9% year over year.
Operating profit was $9.3B, a 13.4% margin (up 2.6 points year over year). Of the extra revenue versus a year earlier, 43% reached operating profit, above the 11% margin then. Total costs grew 6% against revenue growth of 9%. Net earnings were $5.7B, up 38% year over year. The effective tax rate was 38.3%.
Operating cash flow was $6.1B (down 36% year over year), 105% of net earnings. Working capital and other items added $0.30B.
Questions
What was Shell's revenue in the first quarter 2026?
Shell (SHEL) reported revenue of $69.7B for the first quarter 2026 (Q1 2026), +9% from a year earlier.
Was Shell profitable in the first quarter 2026?
Operating profit was $9.3B (13.4% of revenue) and net earnings $5.8B.
Source: Shell 6-K on SEC EDGAR.