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Repsol (REPYY)
OTHER OTC:REPYY
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.68Last Year’s EPS
0.56Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced clear operational progress, disciplined capital allocation and strong customer and renewables momentum against near-term earnings and industrial disruptions. Management highlighted higher cash generation (CFFO), normalized and lower net CapEx, expanding shareholder distributions, successful asset rotation and solid renewables growth. Offsetting these positives were a 15% decline in adjusted net income, material Industrial headwinds from Spanish blackouts and the Cartagena incident, some production effects from disposals and quarter-specific exploration costs, and continued exposure to commodity and regulatory volatility. Overall, the operational and financial fundamentals (cash flow, low net debt excl. leases, shareholder returns and renewables monetization) provide constructive momentum while certain near-term earnings and industrial inflection points remain risks.Company Guidance
Strong Cash Flow and Improved Guidance for 2026
Cash flow from operations (CFFO) was EUR 5.4 billion in 2025 (+8% YoY). Under the new reporting model management guides 2026 CFFO to EUR 5.5–6.0 billion (vs EUR 5.4 billion in 2025), reflecting expected higher contribution from new upstream volumes, industrial turnaround in chemicals/refining and growth in customer and renewables.
Disciplined Capital Allocation and Shareholder Returns
Total shareholder distributions were EUR 1.8 billion in 2025 (EUR 1.1 billion cash dividends and EUR 700 million buybacks). Dividend increased to EUR 0.975 per share in 2025 (an 8.3% year-over-year increase in the announced dividend); management expects cash dividend ~EUR 1.051 per share for 2026 (~8% increase) and has approved a new buyback program of up to EUR 350 million.
Net CapEx Normalization
Net capital expenditure fell to EUR 2.7 billion in 2025 (compared with EUR 5.1 billion net investment in 2024 including Outpost rotation under the previous model), and management guides net CapEx for 2026 at EUR 2.7 billion under the new reporting model, showing a return to more normalized CapEx levels.
Low Net Debt and Healthy Balance Sheet Metrics
Net debt closed at EUR 4.5 billion at year-end 2025 (EUR 0.5 billion above 2024 but explained by reporting/transaction effects); excluding leases net debt was EUR 1.6 billion (≈5% of capital employed). Gearing stood at 14% (5.5% excluding leases). Management expects net debt to be broadly flat through 2026 under plan assumptions.
Upstream Production Growth and Project Delivery
2025 production averaged 548,000 boe/d (at the higher end of guidance). Excluding disposals production was +2% YoY; achieved important first gas/oil milestones (Cypre, Mento, Leona, Castille). Alaska Pikka first phase nearing completion with production expected to start in March 2026; combined G5 projects expected to contribute ~80,000 b/d (low breakeven, low CO2) by 2027.
Material Recovery and Growth in Libya
Libya reached the highest production since 2012 with gross production exceeding 300,000 b/d during 2025 (peak ~326,000 b/d) and Repsol expects Libya gross production near 350,000 b/d by end-2026, implying ~40–43,000 b/d net to Repsol.
Customer Segment Outperformance
Customer adjusted net income was EUR 754 million (+17% YoY). EBITDA reached EUR 1.4 billion (+20% YoY), achieving the 2027 strategic EBITDA target two years early. Mobility fuel sales +11% YoY; non-oil contribution margin in Spain +12% YoY; digital clients reached ~10.8 million (+16% YoY); power & gas retail reached ~3.0 million customers (added >0.5 million in 2025).
Renewables Growth and Asset Rotation
Low-Carbon Generation adjusted net income EUR 53 million (+EUR 77 million vs 2024). Power generated 11.6 TWh (+49% YoY); renewable generation 7.7 TWh (+34% YoY). Added 2.2 GW in 2025 bringing capacity to ~5.9 GW (now ~6.0 GW). Rotated 1.8 GW via three transactions and captured ~EUR 2.7 billion of capital since 2018 through asset-level debt, tax equity and rotations (average equity IRR >10% on rotated assets).
Decarbonization and Operational Emissions Progress
Company delivered its 2025 decarbonization commitments set in 2021: a 15% reduction in the carbon intensity indicator; methane emissions intensity and routine flaring reduction targets were also met. Continued investment in renewable fuels, HVO retrofits (Puertollano starting next quarter), and large-scale electrolyzers (100 MW projects) advances low-carbon platform.
REPYY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
REPYY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $20.83 | $21.26 | +2.06% |
Oct 30, 2025 | $17.98 | $17.98 | 0.00% |
Jul 24, 2025 | $15.33 | $15.45 | +0.76% |
Apr 30, 2025 | $11.45 | $11.33 | -1.07% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Repsol (REPYY) report earnings?
Repsol (REPYY) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Repsol (REPYY) earnings time?
Repsol (REPYY) earnings time is at Apr 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is REPYY EPS forecast?
REPYY EPS forecast for the fiscal quarter 2026 (Q1) is 0.68.