Repsol : Q3 2019 earnings ahead of expectations buoyed by downstream activities
>Adjusted net profit 9% higher than expected - Adjusted attributable net profit clocked in at € 522m in Q3 2019, i.e. +5% q-o-q /-11.2% y-o-y, 9% higher than our forecasts and the consensus (ODDO BHF: € 470m; consensus: € 479m) with a pleasant surprise downstream and particularly low spend from the corporate division.Upstream hit by more challenging price environment - Adjusted net profit for upstream activity totalled € 218m, -32.5% q-o-q/-40.8% y-o...Repsol is an oil and gas company. Co. is engaged in all the activities relating to the oil and gas industry, including exploration, development and production of crude oil and natural gas, transportation of oil products, liquefied petroleum gas (LPG) and natural gas, refining, the production of a wide range of oil products and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas, as well as the generation, transportation, distribution and supply of electricity. Co. operates in more than 40 countries. Co.'s operations are divided into four segments: Upstream, Downstream, LNG and Gas Natural Fenosa.
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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