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Galp Energia SGPS SA (GLPEY)
OTHER OTC:GLPEY
Earnings Data
Report Date
Apr 27, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.26Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced strong operational execution and disciplined financial management (Bacalhau first oil, +EUR 2.2bn OCF YoY, clear 2026 growth guidance, maintained dividend and EUR 250m buyback, CapEx discipline and upstream growth pipeline) against several sources of uncertainty (geopolitical volatility, cautious macro assumptions, ongoing regulatory and tax disputes, early-stage appraisal work in Namibia and exploration risk). Positives are substantial and concrete (actual production and cash flow improvements, committed projects and shareholder returns), while lowlights are largely uncertainties and execution/approval risks rather than immediate financial deterioration.Company Guidance
Strong Brazil Production and Bacalhau First Oil
Average Brazil production reached ~111,000 barrels per day in 2025 (above 2024 levels). Bacalhau achieved first oil and is showing high productivities as it ramps up.
Large Year-on-Year Operational Cash Flow Improvement
Group operational cash flow improved by approximately EUR 2.2 billion year-on-year in 2025, driven by strong midstream and commercial performance.
2026 Guidance — Clear Growth Targets
Guidance for 2026 targets at least 15% production growth to 125,000–130,000 bpd, industrial & midstream EBITDA > EUR 700 million, commercial EBITDA > EUR 350 million, consolidated EBITDA > EUR 2.6 billion and operational cash flow > EUR 2.0 billion (based on a conservative macro case: Brent $60, FX 1.18).
Capital Discipline and CapEx Guidance
Organic CapEx guidance is approximately EUR 1.0 billion for 2026 with upstream representing over 40% of organic spend and Bacalhau CapEx ramping down; net CapEx includes a cushion for flexibility.
Shareholder Distributions Maintained
Board to propose EUR 0.64 dividend per share at AGM and will launch a EUR 250 million share buyback to be executed throughout 2026, indicating continued shareholder returns.
Portfolio Execution and M&A Progress
Announced intention to merge downstream activities with Moeve to unlock scale and resilience; parties targeting a final agreement by mid-2026 and expect to capture synergies (target ~10% combined synergies noted qualitatively).
Upstream Opportunity Pipeline and Namibia Progress
Added Venus to the growth profile (possible FID around mid-2026) and agreed an appraisal program for Mopane in Namibia with a planned 3-well E&A campaign and first well expected H2 2026; FEED works for Venus finalized.
Low-Carbon Project Advances and Renewables Optionality
Sines low-carbon projects advancing on schedule with commissioning expected by end of 2026 (including 100 MW green hydrogen and HVO project with 60–65% CapEx already committed). Galp allocates ~35% of CapEx to low-carbon projects and is open to partnerships to optimize returns and hybridization/storage opportunities.
Operational Cost Competitiveness
Reported upstream breakevens around USD 20/barrel, supporting resilience in lower-price scenarios; short-term refining margins traded at double-digit levels quarter-to-date.
LNG Contract Delivery and Volumes
Expecting full Venture Global contract volumes in 2026 (~15 cargoes), with active risk management in view of narrower gas price spreads.
GLPEY 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
GLPEY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 02, 2026 | $10.76 | $11.41 | +6.12% |
Oct 27, 2025 | $9.83 | $10.18 | +3.57% |
Jul 21, 2025 | $9.16 | $9.36 | +2.24% |
Apr 28, 2025 | $7.79 | $7.56 | -2.93% |
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 Galp Energia SGPS SA (GLPEY) report earnings?
Galp Energia SGPS SA (GLPEY) is schdueled to report earning on Apr 27, 2026, Before Open (Confirmed).
What is Galp Energia SGPS SA (GLPEY) earnings time?
Galp Energia SGPS SA (GLPEY) earnings time is at Apr 27, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is GLPEY EPS forecast?
Currently, no data Available