ENI (NYSE:E) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

ENI (NYSE:E) announced its earnings results on Wednesday. The oil and gas exploration company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.02, Zacks reports. ENI had a net margin of 3.37% and a return on equity of 9.21%. The company had revenue of $25.87 billion during the quarter, compared to analyst estimates of $27.85 billion.

Here are the key takeaways from ENI’s conference call:

• Strong first-half performance: Q2 pro forma EBIT doubled year over year to €5.4 billion, net income reached €2.3 billion, and operating cash flow rose more than 60% to €4.5 billion. Pro forma gearing declined to 10%.
• Eni raised its outlook across several businesses, including 2026 underlying production growth of more than 5%, GGP pro forma EBIT above €1.4 billion, and Plenitude and Enilive EBITDA of €2.6 billion. Adjusted cash flow from operations guidance increased to €15 billion.
• Upstream production increased 8% year over year, with projects in Angola, Mexico, Congo and Indonesia offsetting Middle East disruptions. Eni expects approximately 4% annual production growth through 2030, supported by 54 organic projects and new opportunities in Asia, Latin America and Africa.
• The stronger cash-flow outlook supports a significant increase in the 2026 share buyback to €3.4 billion from the initial €1.5 billion, implying a combined shareholder distribution yield of about 10%. An additional dividend and potentially higher buyback remain possible if oil and gas prices stay above specified thresholds.
• Eni continues to face execution and geopolitical risks, including ongoing negotiations in Venezuela and a disputed €5 billion environmental fine related to Kashagan in Kazakhstan. Versalis remains loss-making despite improvement, while project cost inflation has risen to roughly 4%-6% following Middle East-related market disruption.

ENI Trading Up 7.2%

Shares of E opened at $53.83 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.16 and a quick ratio of 1.02. ENI has a 1 year low of $33.74 and a 1 year high of $58.00. The company has a 50 day simple moving average of $50.55 and a two-hundred day simple moving average of $49.50. The firm has a market cap of $90.85 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 0.27 and a beta of 0.40.

More ENI News

Here are the key news stories impacting ENI this week:

• Positive Sentiment: Eni reported second-quarter earnings per share of $1.76, narrowly exceeding the $1.74 consensus estimate. First-half net profit rose 43% to €3.635 billion, supported by production growth and stronger oil and gas prices. ENI Shares Gap Up Following Better-Than-Expected Earnings Eni First-Half Net Profit
• Positive Sentiment: The company raised its full-year share-buyback program to €3.4 billion from €2.8 billion and increased its cash distribution to shareholders. The enhanced capital return is likely supporting the stock by improving its income and shareholder-yield appeal. Eni Raises Buyback After Better Q2 Profit
• Positive Sentiment: Eni is negotiating new Venezuelan oil and gas contracts and expects rapid development of the Junin 5 oilfield if investment resumes, creating potential longer-term production growth. Eni Eyes Faster Development of Venezuela’s Junin 5
• Positive Sentiment: Production has reportedly resumed at Eni-operated Libyan fields after a protest-related disruption, reducing a near-term operational concern. Eni Resumes Production at Libyan Fields
• Neutral Sentiment: Eni and TotalEnergies approved a Cypriot gasfield project intended to support Egyptian LNG exports, offering future growth potential but with benefits that are unlikely to materially affect near-term earnings. Cypriot Gasfield Project
• Negative Sentiment: Quarterly revenue of $25.87 billion was below the $27.85 billion analyst forecast, indicating that the earnings beat was not broad-based. Erste Group Bank also modestly reduced its 2026 and 2027 EPS estimates and retained a Hold rating. Eni Earnings Report

Analyst Ratings Changes

E has been the subject of several analyst reports. Dbs Bank raised shares of ENI from a “hold” rating to a “moderate buy” rating in a report on Tuesday, April 28th. Rothschild & Co Redburn upgraded shares of ENI from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 9th. Weiss Ratings cut shares of ENI from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, July 17th. Zacks Research downgraded shares of ENI from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Finally, Erste Group Bank cut shares of ENI from a “buy” rating to a “hold” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.30.

Hedge Funds Weigh In On ENI

Several hedge funds have recently modified their holdings of E. DV Equities LLC purchased a new position in ENI during the fourth quarter valued at $35,000. Advisory Services Network LLC bought a new stake in ENI in the 3rd quarter valued at $47,000. CIBC Private Wealth Group LLC purchased a new stake in ENI in the 3rd quarter worth $48,000. Larson Financial Group LLC boosted its holdings in shares of ENI by 37.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,387 shares of the oil and gas exploration company’s stock valued at $48,000 after purchasing an additional 378 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of ENI by 320.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,375 shares of the oil and gas exploration company’s stock valued at $52,000 after purchasing an additional 1,048 shares in the last quarter. Hedge funds and other institutional investors own 1.18% of the company’s stock.

About ENI

ENI S.p.A. is an integrated energy company headquartered in Rome, Italy, founded in 1953 as a state-established hydrocarbon entity and later transformed into a publicly traded multinational. The firm’s activities span the full hydrocarbon value chain and extend into power generation and low?carbon energy solutions. ENI maintains a long history in exploration and production, engineering and project development, and downstream operations that include refining, petrochemicals and retail fuel distribution.

Core businesses include upstream exploration and production of oil and natural gas, midstream and liquefied natural gas (LNG) handling, and downstream refining and marketing of petroleum products and lubricants.