Repsol Reports Drop In Q3 Replacement-Cost-Adjusted Net Profit

Repsol YPF SA REPYY reported a 14.5% decline in its Q3 net profit, excluding inventory effects. Repsol's unadjusted net profit climbed 24.3% y/y to EUR557 million, from EUR448 million, in the year-ago period, versus analysts' estimates of EU443.1 million. Repsol's replacement-cost-adjusted net profit declined to EUR429 million from EUR502 million. Repsol shares closed at $29.60 yesterday.