Shell had to face a new normal in the second quarter when the results of this quarter is compared to last year’s record-breaking profits, stemming from the huge increases in energy prices.

However, the Dutch-British energy giant has landed somewhat heavier from its cloud than analysts had expected.

This is according to estimates compiled by Bloomberg News in the run-up to the results.

Shell’s revenue in the second quarter fell by 25 percent to USD 74.58bn.

The decline applies to virtually all items in the financial statements — including the adjusted earnings before interests, taxes, depreciations, and amortizations, EBITDA, which fell 38% to USD 14.44bn against an expected 14.71bn USD.

The adjusted bottom line was more than halved to USD 5.07bn, which was also a larger decline than expected. The consensus among analysts was a profit of USD 5.61bn.

(Translated using DeepL with additional editing by Christian Radich Hoffman)