Eni (E:NYSE) is raising its share buyback program for the year after reporting on Wednesday consensus-beating earnings for the second quarter on the back of higher oil and gas prices and a jump in upstream production.
The Italian energy major booked an adjusted net profit of $2.65 billion (2.33 billion euros) for the second quarter, more than doubled from $1.29 billion (1.13 billion euros) for the same period last year, and higher than a company-provided consensus estimate of $2.4 billion (2.09 billion euros).
Eni attributed the profit jump to higher oil and gas realizations in a "supportive pricing environment," as well as to growth in volumes and cost management.
The exploration and production (E&P) division reported pro forma adjusted EBIT soaring by 42% from the first quarter of 2026 and by 97% from the second quarter of 2025, driven by favorable volume and mix effects, cost discipline, and better oil realizations, Eni said.
Eni's average realized price of liquids jumped by 54% from a year earlier to $96.50 per barrel for the second quarter of 2026.
#year #higher
The Italian energy major booked an adjusted net profit of $2.65 billion (2.33 billion euros) for the second quarter, more than doubled from $1.29 billion (1.13 billion euros) for the same period last year, and higher than a company-provided consensus estimate of $2.4 billion (2.09 billion euros).
Eni attributed the profit jump to higher oil and gas realizations in a "supportive pricing environment," as well as to growth in volumes and cost management.
The exploration and production (E&P) division reported pro forma adjusted EBIT soaring by 42% from the first quarter of 2026 and by 97% from the second quarter of 2025, driven by favorable volume and mix effects, cost discipline, and better oil realizations, Eni said.
Eni's average realized price of liquids jumped by 54% from a year earlier to $96.50 per barrel for the second quarter of 2026.
#year #higher
3 months ago
