Eni Q3 Adjusted Net Profit €2.80 Bln Above Consensus, Increases Buyback Program By 12% To €3.80 Bln

By Reuters News

Oct 23 (Reuters) - Eni SpA ENI.MI:

  • APPROVES EXTRAORDINARY DIVIDEND OF €0.46 PER SHARE TO BE PAID IN DECEMBER

  • INCREASES BUYBACK PROGRAM BY 12% TO €3.80 BILLION

  • SELLS 10% STAKE IN BALEINE PROJECT

  • Q3 ADJUSTED NET PROFIT € 2.80 BILLION VERSUS €2.48 BILLION IN COMPANY-PROVIDED CONSENSUS

  • Q3 PROFORMA ADJUSTED EBIT €5.99 BILLION VERSUS €5.69 BILLION IN COMPANY-PROVIDED CONSENSUS

  • Q3 PROFORMA ADJUSTED EBIT E&P UNIT €4.63 BILLION VERSUS €4.70 BILLION IN COMPANY-PROVIDED CONSENSUS

  • SEES UPWARD REVISION OF 2026 GROWTH ESTIMATE FOR OIL & GAS PRODUCTION, ON A LIKE-FOR-LIKE BASIS, TO A RANGE OF 6% TO 7%

  • Q3 PROFORMA ADJUSTED EBIT GGP UNIT €0.45 BILLION VERSUS €0.37 BILLION IN COMPANY-PROVIDED CONSENSUS

  • SEES 2026 GGP’S PRO FORMA ADJUSTED EBIT REVISED UPWARD TO APPROXIMATELY €1.5 BILLION

  • Q3 NET CASH FROM OPERATIONS € 4.36 BILLION

  • SEES 2026 ENILIVE'S PRO FORMA ADJUSTED EBITDA REVISED UPWARDS TO €1.4 BILLION

  • Q3 ORGANIC CAPITAL EXPENDITURE €1.35 BILLION

  • Q3 GEARING BEFORE LEASE LIABILITIES EX IFRS 16 AT 9%

  • Q3 PRODUCTION 1.83 MBOE/D VERSUS 1.81 MBOE/D IN COMPANY-PROVIDED CONSENSUS

  • SIGNS AGREEMENTS FOR SALE OF 10% STAKE IN KUTEI BASIN ASSETS IN INDONESIA

  • SEES PROFORMA GEARING AT THE BOTTOM OF THE 10-15% GUIDED RANGE

Further company coverage: ENI.MI

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