Spanish integrated energy company Repsol first quarter earnings crushed earnings expectations. Repsol posted a net income of €1.112 billion ($1.227 billion) up from just over €1 billion in the corresponding quarter of 2022. The result was powered by its gas trading business and beat adjusted net income forecasts by 26% Redburn said. Upstream results beat forecasts, with adjusted net income of €474 million ahead of the €454 million consensus, according to Redburn. Josu Jon Imaz, chief executive of the company, … Continue reading “Gas Trading Drives Spanish Energy Major Repsol Positive Earnings Surprise”
Spain’s Repsol Upstream Revenue Surges But Downstream Weighs
Repsol SA reported worse than expected second quarter results Thursday due to higher chemical costs hurting downstream earnings despite higher refining margins. Upstream delivered. $REPYY, Spain’s oil major producer is seeking to diversity away from oil.