Repsol SA (BME:REP) beat Q2 expectations with strong adjusted net profit and record refining margins, stayed on track for full‑year upstream guidance, and confirmed a shareholder return policy that includes a potential third buyback in October tied to cash flow and macro visibility.
Previous Week Recap
- Repsol Q2 Profit, Elevated EBITDA: Repsol SA (REP) Q2: net profit €1.27B; adjusted net profit €1.84B; adjusted EBITDA (CCS) €3.22B; adjusted EBITDA €3.52B.
- Third Buyback Planned In October: Repsol SA (REP) plans a third share buyback in October; size will depend on macro conditions and full‑year visibility. Company confirms shareholder return policy tied to operating cash flow.
- On Track For Upstream Guidance: Repsol SA (REP) says it remains on track to meet full‑year upstream oil and gas production guidance, confirming management’s current production trajectory.
- Q2 Beat; Record Refining Margins: Repsol (REP) beat Q2 expectations, captured record refining margins, had no planned refinery maintenance, UBS lifted 2026 buyback to €1.1B and raised price target to €26; shares near €26.
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