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Galp Q3 Adjusted Net Profit Surges 58%

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Portuguese company Galp Energia SGPS SA (OTC: GLPEY) reported a 58% rise in its Q3 adjusted net profit.

Galp's quarterly replacement-cost-adjusted net profit surged to EUR98 million ($127 million), from EUR62 million, in the year-ago period. However, analysts were expecting an RCA net profit of EUR92.8 million.

Its replacement-cost-adjusted operating profit climbed to EUR173 million from EUR112 million, while unadjusted net profit rose to EUR173 million from EUR95 million.

Galp's refining margins increased to $4.4 a barrel, from $0.9 a barrel.

Galp shares gained 1.22% to close at $8.30 on Friday.

Posted-In: profitEarnings News

 

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