Repsol Earnings: Shareholder Payout Increases Continue Despite Earnings Decrease

Repsol’s third-quarter adjusted earnings fell to EUR 1.1 billion from EUR 1.5 billion a year ago, largely on lower oil and gas prices. Operating cash flow fell to EUR 1.3 billion from EUR 3.2 billion the year before, while capital spending grew to EUR 1.3 billion from EUR 962 million. Management reiterated its plan to make EUR 5 billion of organic investments in 2023 and to allocate 35% of organic investments in the year to low-carbon projects, a total of EUR 1.75 billion.