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Repsol profit misses consensus by 18.9% in Q2

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Repsol profit misses consensus by 18.9% in Q2

Repsol SA said its second-quarter normalized net income amounted to 18 euro cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.

EPS fell 51.4% year over year from 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €261.9 million, a decrease of 51.5% from €539.6 million in the prior-year period.

The normalized profit margin fell to 1.5% from 4.6% in the year-earlier period.

Total revenue declined 8.2% on an annual basis to €10.79 billion from €11.75 billion, and total operating expenses fell 10.6% from the prior-year period to €10.32 billion from €11.55 billion.

Reported net income fell 48.5% on an annual basis to €284.0 million, or 20 cents per share, from €551.0 million, or 39 cents per share.