Repsol SA

REP: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Repsol Earnings: Downstream Exposure Continues To Drive Exceptional Results and Shareholder Returns

Allen Good, Andrea Burigana

Oct 29, 2026

Repsol's third-quarter adjusted net income exceeded expectations, surging to EUR 2.7 billion from EUR 752 million a year ago, primarily driven by industrial earnings, which benefited from strong refining margins and trading results. It further increased shareholder distributions.

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Repsol SA

Repsol Earnings: Downstream Exposure Continues To Drive Exceptional Results and Shareholder Returns

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