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Repsol Q1 profit climbs 28.3% YOY

Repsol SA said its first-quarter normalized net income amounted to 39 euro cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS rose 28.6% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €536.9 million, a gain of 28.3% from €418.5 million in the year-earlier period.

The normalized profit margin climbed to 5.8% from 3.5% in the year-earlier period.

Total revenue decreased 22.0% year over year to €9.33 billion from €11.96 billion, and total operating expenses decreased 20.2% from the prior-year period to €9.17 billion from €11.50 billion.

Reported net income increased 49.8% from the prior-year period to €761.0 million, or 56 cents per share, from €508.0 million, or 37 cents per share.