Repsol : Q3 2024 results in line. Guidance revised down but management reassures on cash returns. Outperform rating confirmed
>Q3 2024 earnings 1.6% shy of the consensus expectations - Adjusted net profit for Q3 totalled € 558m (-35% q-o-q /-49% y-o-y), 1.3% above our expectations and 1.6% below the consensus (ODDO BHF: € 551m est.; consensus: 567 M€), hit by a fall in production in Libya and a collapse in refining margins. E&P and refining impacted, but improvement expected in Q4 - E&P earnings came in at € 287m, down 33% q-o-q but 2% above consensus. This underperformance ...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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