Shell plc reported on Thursday that its income attributable to shareholders in the first quarter of 2022 was $91.bn (£7.1bn), up 25% from the same time the previous year.
Revenue at the oil giant increased by 51% year on year to $84.2bn, while diluted profits per share (EPS) increased by 29% to $0.93. The adjusted earnings were $9.1bn, while the adjusted EBITDA was $19bn.
CEO Ben van Beurden noted that the conflict in Ukraine created a “major disturbance to global energy markets,” emphasising the significance of guaranteeing a dependable and inexpensive energy supply.
“Generating value through strong earnings and cash flow, coupled with maintaining a healthy balance sheet and continuing the disciplined delivery of our strategy, are crucial for Shell to play a leading role in the energy transition,” he added, noting this is also “the best way for us to contribute to the security of energy supplies.”