GALP : Earnings undershoot expectations with guidance revised down
>Earnings below expectations with guidance adjusted downwards - Galp has released its Q3 2022 results with EBITDA 4% below the consensus and EBIT 11% below expectations. The group revised its EBITDA outlook down from € 4bn to € 3.8bn for FY 2022 and its operating cash flow from € 2.9bn to € 2.8bn to factor in forex effects. Similarly, capex has been revised upwards from € 1bn to € 1.1-1.2bn for the same reasons with slight inflation.Upstream: a good perf...Galp Energia is a holding company. Through its subsidiaries, Co. operates in the following segments: exploration and production, with activities relating to exploration, development and production of hydrocarbons, particularly in Angola, Brazil and Mozambique; refining and marketing, which owns refineries in Portugal and also includes activities relating to the retail and wholesale commercialization of oil products; and gas and power, which covers the purchasing, commercialization, distribution and storage of natural gas and electric and thermal power production. As of Dec 31 2014, Co. had proved and probable reserves of 638.0 million barrels of oil equivalent.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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