Galp up after upstream‑led core earnings beat

Galp Energia SGPS SA

27/04/2026 08:51

** Shares in Galp GALP.LS rise over 2%, leading gainers on Portugal's PSI .PSI20 index, after the company beat Q1 core earning expectations thanks to strength it its upstream business

** "Upstream EBIT was well ahead of consensus, supported by higher oil realizations as well as the ramp-up of Bacalhau volumes into March at a time of elevated prices," says RBC

** The energy company reports a 41% jump in first-quarter adjusted core profit, beating analyst expectations

** Despite a working capital build, RBC also notes that Galp maintains its Net Debt/EBITDA ratio

** Looking forward, Galp left its guidance unchanged, awaiting greater visibility in the second quarter

** Up to the Friday's, shares up 31.3%​ YTD

 (Reporting by Gemma Guasch)

 ((Gemma.guasch@thomsonreuters.com))