Repsol : A positive surprise from net income with a very promising cash return
>Q1 2023 results beat estimates - Adjusted attributable net income for Q1 came to € 1,891m (-7.3% q-o-q /+78% y-o-y) and stands at 20%/26%, 14% above the consensus (ODDO BHF: € 1,580m; consensus: € 1,501m) thanks to trading gains that more than offset the downturn in refining margins.E&P: an uptick in production confirmed - Adjusted net income for upstream stood at € 474m, in line with the consensus (ODDO BHF: € 470m; consensus: € 454m). The good news...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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