Repsol Q1 earnings jump on higher oil prices, refining margins.
Spanish oil producer Repsol targeted higher kerosene output as it reported a jump in first quarter earnings driven by higher prices caused by the Iran war.
Source: Sharecast
Adjusted earnings before interest tax, depreciation and amortisation soared 110% to €2.61bn. Adjusted net income rose by more than 50% to €873m although this still missed company-compiled estimates of €897m.
The refiner said it was aiming to boost kerosene production by 15% to 20% as the Iran war caused a disruption to jet fuel supplies globally.
Higher refining margins led to a rise in adjusted earnings at Repsol’s industrial division rose to €440m compared to €308m last year.
Reporting by Frank Prenesti for Sharecast.com
N/A
ISIN:
N/A
Exchange: N/A
Sell:
N/A
Buy:
N/A
Change:
Date:
Prices delayed by at least 15 minutes
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.