For the third quarter of 2026, analysts anticipate Shell PLC will report consensus revenue of $95.2 billion and earnings per share of $3.54, with the stock currently trading at $106.91, slightly above its $106.63 average price target.
Investors are primarily focused on the company's indicative refining margins, which are expected to jump significantly to $42 per barrel from $24 in the previous quarter.
This anticipated margin expansion is bolstered by stronger refining economics and increased gas production following the completion of the ARC Resources acquisition in September. Analysts are also closely monitoring the potential for a new multi-billion dollar share buyback program as management emphasizes returning capital to shareholders over expansion.