(RTTNews) – Italian energy major Eni S.P.A. (E) reported Wednesday significantly higher profit in its second quarter, as revenues were benefited by higher production and prices.
Further, citing the strong execution and the market environment, Eni raised guidance on fiscal 2026 oil & gas production to around 5 percent underlying growth from previously announced 3 percent to 4 percent target range.
The firm also increased share repurchase plan by 20 percent to 3.4 billion euros from last quarter’s revised guidance of 2.8 billion euros.
The company also confirmed the planned 2026 dividend of 1.1 euros per share, up 5 percent from last year.
In the second quarter, net profit attributable to Eni’s shareholders surged to 3.32 billion euros from last year’s 543 million euros. Earnings per share were 1.09 euros, up from 0.16 euros last year.
On a continuing operations basis, net profit attributable was 2.83 billion euros or 0.92 euro per share, compared to loss of 2 million euros or 0.02 euro per share in the prior year.
Adjusted net profit attributable was 2.33 billion euros, compared to prior year’s 1.13 billion euros.
Proforma adjusted EBIT was 5.38 billion euros, doubling from last year’s 2.68 billion euros, due to strong performance at E&P, GGP and the Transition satellites.
Total revenues climbed to 22.67 billion euros from last year’s 17.22 billion euros. Sales from operations grew to 24.38 billion euros from prior year’s 18.77 billion euros.
Hydrocarbon production increased 7 percent to 1,789 kboe/d from 1,668 kboe/d last year. Underlying production, net of price effects, grew 11 percent.
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