Repsol SA

REP: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€32.90	Pwrh	Wmfhvhjd

Repsol Earnings: Earnings Fall but Management Increases Payout to Shareholders

Allen Good

Apr 25, 2024

Repsol’s first-quarter adjusted earnings fell to EUR 1.3 billion from EUR 1.9 billion a year ago, largely on lower refining margins. Operating cash flow fell to EUR 1.4 billion from EUR 1.8 billion the year before, and capital spending fell to EUR 1.4 billion from EUR 1.8 billion.

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