- Repsol (OTCQX:REPYY, OTCQX:REPYF) reports a 95% rise in Q2 profit, boosted by the sale of stock in its former Argentine unit and bonds the company received in compensation for its nationalization.
- However, adjusted net income, which excludes gains or losses in the value of inventories and one-off items, fell 2.7% Y/Y to €390M from €401M in the year-ago period; the adjusted result still was far above analyst consensus of €279M.
- Total Q2 production fell 5.8% Y/Y to 338,000K boe/day, as output that ramped up in Bolivia, Peru and other parts of the world helped offset a lack of output from Libya.