Galp Q1 Adjusted EBITDA Up 41%

Galp Energia reported adjusted EBITDA of €943 million for Q1 2026, a 41% increase over the year and above the €890 million consensus estimate.
Earnings from Brazil surged 78% to €685 million as production rose 23% to 129,000 barrels per day, aided by a floating production vessel.
Brent crude averaged $81.1 per barrel in Q1, up from $75.7 a year earlier, bolstering earnings while net debt stood at €1.3 billion.
Adjusted operating cash flow reached €713 million, free cash flow €47 million, and €46 million was allocated to a share buyback program launched in March.