The company said adjusted net income climbed to €1.84 billion ($2.1 billion) for the April-to-June period, up from €598 million recorded in the second quarter of 2025.
Repsol also posted a substantial improvement in overall profitability, with net income rising to €1.27 billion, compared with €237 million a year earlier.
The company’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) also more than tripled, increasing to €3.52 billion from €1.15 billion in the corresponding period last year.
The strong performance reflects improved market conditions for the Spanish energy giant, particularly stronger refining margins and higher crude oil prices, which boosted returns across its operations.
Company Rewards Shareholders with Larger Buyback
Buoyed by the robust earnings performance, Repsol announced plans to increase its second share buyback programme for 2026 to €500 million, expanding shareholder returns beyond the €350 million buyback programme already completed earlier in the year.
The company also revealed that it expects to announce a third share buyback programme in October, in line with its long-term capital allocation strategy.
Repsol said the move forms part of its commitment to distribute between 30 per cent and 40 per cent of its operating cash flow to shareholders through share repurchases and other capital return initiatives.
The latest results underscore the resilience of Repsol’s integrated energy business, as stronger refining operations and favourable oil market conditions continue to support earnings despite ongoing volatility in global energy markets.