Shell profit more than doubles to $9.84 billion in second quarter

Shell reported adjusted earnings of $9.84 billion for the second quarter of 2026, more than doubling its profit from the same period a year earlier. The result, announced on July 30, 2026, exceeded analyst expectations of $8.79 billion, according to an LSEG-compiled consensus.

The strong performance affects Shell's shareholders and the broader energy market, as the company benefits from elevated fossil fuel prices driven by the Middle East conflict. A separate, company-provided analyst forecast had estimated second-quarter profit at $8.92 billion, which Shell also surpassed.

The earnings surge highlights how geopolitical tensions can rapidly boost energy company revenues. Shell's adjusted earnings were $4.26 billion in the second quarter of 2025 and $6.92 billion in the first quarter of 2026, underscoring the sharp increase.

London-listed shares of Shell have risen around 21% so far this year, though the company trails rivals including Britain's BP, France's TotalEnergies, and U.S. majors Exxon Mobil and Chevron. The profit jump comes as the U.S. launched its first airstrike in the Middle East since pausing its bombing campaign, with U.S. Central Command describing the strikes as a "powerful response" to attempted Iranian attacks on American forces.

The ongoing Iran war continues to disrupt global oil supplies, pushing prices higher and benefiting energy producers. Shell's results reflect the immediate financial impact of these tensions, though the company did not provide specific forward guidance in the announcement.