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Repsol profit misses consensus by 19.6% in Q3

Repsol SA said its normalized net income for the third quarter came to 29 euro cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.

EPS rose 179.9% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €449.5 million, an increase of 184.7% from €157.9 million in the year-earlier period.

The normalized profit margin climbed to 4.5% from 1.8% in the year-earlier period.

Total revenue grew 12.6% year over year to €10.04 billion from €8.92 billion, and total operating expenses increased 9.2% year over year to €9.39 billion from €8.60 billion.

Reported net income grew 9.7% on an annual basis to €520.0 million, or 34 cents per share, from €474.0 million, or 32 cents per share.