)
)
Company research26 Mar 2024
Companies That Had Their IPO in 1989: The Calm Between the Storms
A look at the IPO landscape and market sentiment in 1989 as the markets enjoyed a period of relative calm between tumultuous times.
Repsol
Repsol (REP) investor relations material
Repsol Deutsche Bank Virtual Investor Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Deutsche Bank Virtual Investor Conference summary12 Nov, 2026
Strategic outlook and capital allocation
2028 operating cash flow target of EUR 6.5bn, up 20% from EUR 5.4bn in 2025; 2026-28 cumulative target EUR 15bn-EUR 18bn and 2028 ROACE target 12%.
2026-28 net CapEx target EUR 7.5bn-EUR 9bn; organic CapEx of EUR 8.5bn-EUR 10bn and ~EUR 1bn portfolio management program. CapEx is 50%-60% of operating cash flow, with ~30% for low-carbon businesses.
Shareholder distributions target 30%-40% of operating cash flow; committed cash dividends total EUR 3.6bn in 2026-28, with DPS growth above 6% annually. Central-case total remuneration target: EUR 5.5bn-EUR 7bn.
Planning assumptions: Brent $65/bbl, Henry Hub $4/MMBtu and refining margin indicator $6.5/bbl; more than 80% of capital employed is in Spain, Portugal and the U.S.
Maintain current BBB+/Baa1 rating.
Upstream priorities
2028 production target of 580,000-600,000 boe/d versus 548,000 boe/d in 2025; 2026-28 CapEx of EUR 2.6bn-EUR 3bn, ~80% in the U.S., with cumulative FCF target of EUR 4bn.
U.S. investment of EUR 2.5bn targets 230,000-240,000 bbl/d average production in 2028; Alaska Pikka targets 30,000-35,000 boe/d net in 2028, with EUR 500m CapEx in 2026-28.
Marcellus and other U.S. unconventional production target: 180,000-190,000 boe/d in 2028, with EUR 2.5bn planned CapEx in 2026-28.
International plans include Raia first gas in 2028, UK production of 55,000-60,000 boe/d in 2026 and active exploration in Libya during 2026-28.
Cardón IV targets 10% production growth by Q1 2028; 2026 receipts included three monetized cargoes and two committed cargoes.
Industrial and low-carbon priorities
Industrial operating cash flow expected to rise 40% vs. 2025; 2026-28 FCF target ~EUR 3.4bn, with ~40% of CapEx allocated to low-carbon platforms.
Refining breakeven target improves by $0.6/bbl by 2028 vs. 2025; strategy emphasizes efficiency, stronger trading and renewable-fuel growth.
Renewable-fuel capacity target: 1.5m tonnes by 2028 and 1.6m-1.8m tonnes annually by 2030; Ecoplant Tarragona targets 2029 start-up and ~240 kt/year renewable methanol production.
2028 renewable capacity target ~9 GW globally and 4 GW in Spain; average additions ~1 GW/year in 2026-28. U.S. low-carbon generation net CapEx capped at EUR 0.5bn-EUR 1bn, using project finance, tax equity and asset rotations.
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from Repsol
- Q3 earnings and cash flow surged as FY26 CFO guidance rose to €9bn–€9.5bn.REP
Q3 2026 - Production rose YoY; refining margin was $36.2/bbl and Spanish power averaged €122.1/MWh.REPQ3 2026 TU
- Adjusted net income rose to €2.711bn in H1 2026, with strong industrial and upstream results.REPQ2 2026
- Q3 2025 saw strong results, robust liquidity, and major advances in renewables and shareholder returns.REPQ3 2025
- Q2 2025 saw lower earnings but strong cash flow and increased shareholder returns.REPQ2 2025
- Q3 profit and net income fell sharply, but cash flow and shareholder returns stayed strong.REPQ3 2024
- Net income more than doubled to €657M, with robust shareholder returns and new buybacks.REPQ2 2024
- Net income dropped 62% year-over-year, but guidance and renewables strategy remain intact.REPQ1 2025
- Adjusted income fell 34%, but shareholder returns and renewables investment increased.REPQ4 2024
Next Repsol earnings date
Q4 202618 Feb, 2027
Repsol
Next Repsol earnings date
Q4 202618 Feb, 2027
AI chat
Ask anything. Verify everything.
Ask across every event and document from public companies. Each answer links back to the exact line in the transcript, slide or filing it came from.Learn moreFind what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.)
Trust every finding
50m+ first-party documents. Every output traceable to its source.Find what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.Trust every finding
50m+ first-party documents. Every output traceable to its source.Automations
Zero in on what matters
Define the prompt once. It runs the moment a company publishes or on a schedule you set. Outputs map to the exact signals you choose.Learn more)
Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.)
Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Live audio & transcripts
Be first
Join any earnings call live in one click, with no manual registration. Follow the transcript as it happens and jump straight to the moments that matter.Learn more)
Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.)
Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Quartr MCP connects your AI environment to 17K+ public companies
Pull live transcripts, filings, and slides into Claude or Codex via MCP. Combine Quartr's global IR data with any other dataset. Run agentic research and monitoring.
Included with Quartr Pro at no extra cost.Learn more
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
GAM
GAM
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Ciena
Ciena
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Protean
Protean
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
Frequently asked questions
Repsol, S.A. operates as an integrated energy company worldwide. The company offers fuels, lubricants, liquefied petroleum gas (LPG), natural gas, naphtha and kerosene, ethane, propane, butane and butane-propane mixtures. It also involves in the exploration and production of crude oil and natural gas reserves; produces biofuels; sells electricity; provides derivatives from petrochemicals; develops wind power facilities; and owns gas stations. In addition, it distributes fuel to private business clients for their fleet of passenger cars or trucks.