Shell profits announced! ....maybe they could share a little with customers?!

Andyw666

"Shell has reported record profits in Q2 2022, as its adjusted earnings hit £9.6 billion ($11.5 billion), up from its previous high of £7.6 billion ($9.1 billion) in Q1. Meanwhile the company's EBITDA grew to $23.1 billion in Q2 2022 from $19.0 billion in Q1 2022...."

I had to look this up ;-)  EBITDA, or earnings before interest, taxes, depreciation, and amortization, is a measure of a company's overall financial performance and is used as an alternative to net income in some circumstances.

"The oil group's adjusted earnings for the full calendar 2021 rose to $19.3bn..."

So, Shell is making massive (MASSIVE, MASSIVE, MASSIVE!) profits but what's stopping them (and other companies in a similar position) from sharing some of their 'good fortune' / 'windfall' with their customers by way of a reduction in / discount to the cost of gas and electricity supplied by them?! They could make a considerable positive impact on their customer bills (and quality of life in many cases) and still have greatly increased overall profits.

Just for the first half of 2022 (6 months) their profits are already 7% higher than for the whole of 2021 (12 months) and with the energy price cap due to increase by a considerable amount again later this year those profits will skyrocket further still.

Come on Shell, do the decent thing and look after your customers a bit better please. (yeah I know..... where's the flying pig?! lol)

Why doesn't the government force this?...after all they have done much the same thing for the government tax coffers via a windfall tax on the energy companies.

[Love to hear what @MartinLewis thinks]

RobM99

 More chance of Cameron Diaz turning up naked at my front door with 2 chilled bottles of Dom Perignion whispering "I'm yours, big boy. Grrr!".

pochase

You are aware that this is not the same company that supplies your energy?

Evan3020

How much profit would you allow them? Would you bail them out if they made a loss?

MattMattMattUK

Andyw666 said:

Come on Shell, do the decent thing and look after your customers a bit better please. (yeah I know..... where's the flying pig?! lol)

They exist to look after their shareholders, if you want a share of their profits then you need to buy shares.

Andyw666 said:

Why doesn't the government force this?...after all they have done much the same thing for the government tax coffers via a windfall tax on the energy companies.

The government will not do this because it would see capital flight from the UK and act as a huge deterrence to inward investment.

JGB1955

I have shares.  I'm happy.

QrizB

JGB1955 said:

I have shares.  I'm happy.

Quite a large number of the people reading this thread will have Shell shares, held via their pension investments.

Lastonestanding

Rishi Sunak and family have more money than Centrica, but they don't offer to pay for new public swimming pool in his constituency.
I am sure they make some charitable donations though.

spot1034

Firstly, Shell is a worldwide business and the profits referred to have come largely from other parts of the world. And it should be pointed out that whilst you'd be doing nicely if you bought shares in them a year ago, the longer term picture is much less rosy with a ten year investment just about breaking even. Yes, they pay a dividend but even that was halved a couple of years ago when they were making massive losses. There have been much, much better investments.

Oh and by the way, it's BP's turn to announce results on Tuesday morning so expect another day of outrage from the popular press.  

Workerdrone

JGB1955 said:

I have shares.  I'm happy.

Me too. <SHOUTS AT KIDS> Shut the door, your making me a fortune! 

Strangely the reverse psychology tends to work better with them