Repsol rises after earnings beat estimates, maintains dividend
Repsol SA’s first-quarter profit fell 28 percent as oil prices began their unprecedented decline, but it beat analysts’ estimates and shares rose.
BY RODRIGO ORIHUELA, BLOOMBERG NEWS
Earnings from the Spanish energy producer, like those of its peers, reflect what’s proving to be a historic moment for the industry. Crude’s collapse has forced companies to make drastic cuts in spending and, in some cases, slash shareholder payouts. Still, Repsol has performed better than some of its rivals.
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