Repsol (REP) Q3 2026 TU earnings summary

Executive summary

• Q3 2026 operating indicators are estimates and provisional; final quarter results are scheduled for publication on October 29, 2026.

• Total production was 574 Kboe/d, up 2.9% QoQ and 4.2% YoY.

Segment performance

• Consolidated production was 354 Kboe/d, up 6.3% QoQ and 4.1% YoY; equity-affiliate production was 220 Kboe/d, down 2.2% QoQ and up 3.8% YoY.

• Consolidated North America production was 219 Kboe/d, up 6.8% QoQ and 21.0% YoY; Latin America was 64 Kboe/d, up 4.9% QoQ and down 13.5% YoY.

• Consolidated Europe, Africa and rest-of-world production was 71 Kboe/d, up 6.0% QoQ and down 18.4% YoY; affiliate production in Latin America was 173 Kboe/d, flat QoQ and down 2.3% YoY.

• Spanish refining margin indicator was $36.2/bbl versus $14.0/bbl in 2Q26 and $8.8/bbl in 3Q25; distillation utilization was 81.3% and conversion utilization 97.6%.

• Chemical margin indicator was €387/t versus €569/t in 2Q26 and €258/t in 3Q25.

Risk factors and uncertainties

• Trading indicators are estimates and may change before final results; the information has not been reviewed or verified by external auditors.

• Forward-looking statements are subject to material risks and uncertainties, including future crude prices, refining and marketing margins, exchange rates, and other factors beyond control or difficult to predict.