Energy
Shell Maintains Buyback, Cuts Debt as Profit Beats Estimates
- Net debt falls by more than $2 billion over the period
- Pace of share repurchases is steady at $3.5 billion a quarter
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Shell Plc reported second-quarter earnings that beat estimates and confirmed another $3.5 billion of share buybacks.
Alongside the steady pace of shareholder returns, the company made more progress in strengthening its balance sheet, with net debt dropping by more than $2 billion over the quarter, according to a company statement on Thursday.