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Eni S.P.A. (E)
NYSE:E
Earnings Data
Report Date
Apr 24, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.82Last Year’s EPS
1.03Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized material operational execution, strong cash generation and disciplined capital allocation: production growth beat guidance, discovery and exploration success was very high, net debt fell nearly EUR 3 billion, portfolio valorisations raised significant proceeds and transition businesses produced meaningful earnings and external validation. The primary negatives are a weak European chemicals market (with restructuring lag), some segmental underperformance (low refinery utilisation) and discrete legal, tax and policy uncertainties (Kazakhstan arbitration, higher expected tax rate, EU policy/ETS). Overall, the positive operational and financial results, balance-sheet improvement and tangible investor returns (increased buyback and dividend focus) outweigh the listed challenges.Company Guidance
Strong Cash Flow and Financial Delivery
Cash flow from operations (CFFO) of EUR 12.5 billion for 2025, EUR 1.5 billion ahead of plan (scenario-adjusted). Q4 CFFO was EUR 3.0 billion. Pro-forma adjusted EBIT in Q4 was EUR 2.9 billion, up 6% year-on-year. Adjusted net profit in Q4 was EUR 1.2 billion. Net debt reduced by almost EUR 3 billion during 2025 and pro-forma gearing ended the year at ~14% (15% reported).
Upstream Production Growth & Project Delivery
Started up 6 major projects in 2025, supporting an underlying production increase of 4% for the year and production in Q4 of 1.839 million barrels per day (up 7% YoY and 5% sequentially). Full-year production (~1.7 million bpd) was ~2% above guidance. Project execution highlighted as a strength (Agogo, Angola and Congo LNG called out).
Resource Discoveries and Exploration Success
Discovered 900 million barrels of new resources in 2025. Since 2014 over 10 billion barrels of resources discovered at under USD 1 per barrel. Reported an exceptionally high exploration success rate last year (management said very close to 100%) and low write-offs. Discovery mix: ~70% gas, 30% oil.
Robust Portfolio Activity and Value Realization
Completed portfolio valorization activities raising ~EUR 6.5 billion in 2025 and around EUR 10 billion over the past two years. Took FIDs on 4 major new projects (3 operated) and reported a service replacement ratio above 160%, with ~500,000 barrels per day under development securing medium-term outlook.
Successful Transition Assets and Third-Party Validation
Plenitude and Enilive together delivered EUR 2.0 billion of pro-forma adjusted EBIT in 2025. Plenitude expanded renewable capacity by more than 40% in 2025 and will add ~10% to its customer base on closing the Acea Energia acquisition. Raised EUR 5.8 billion from top private equity firms for transition business lines, implying an enterprise value of ~EUR 23 billion for those lines (management-reported multiple ~3x versus Eni stand-alone).
CapEx Optimization and Capital Discipline
Reduced gross CapEx from a planned EUR 9.0 billion to EUR 8.5 billion in 2025 (EUR 0.5 billion lower than plan). Pro-forma net CapEx was lower than EUR 5.0 billion versus initial guidance of EUR 6.5–7.0 billion. Guidance for 2026: gross CapEx around EUR 7.0 billion and net CapEx around EUR 5.0 billion, reflecting efficiency and advantaged project mix.
Shareholder Returns and Balance Sheet Actions
Raised share buyback by 20% from EUR 1.5 billion to EUR 1.8 billion in 2025 while simultaneously reducing debt. Management reiterated priority on a fully funded, attractive and growing dividend (dividend up ~5% per year on average over last 5 years).
Refining and Gas-to-Power Improvements
Refining returned to profit in Q4 (despite low utilization rates). Gas-to-power and GGP contributed meaningfully: GGP delivered EBIT above EUR 1.0 billion for the fourth consecutive year. These results helped capture more margin from equity production.
E Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
E Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $44.45 | $45.54 | +2.45% |
Oct 24, 2025 | $35.81 | $36.41 | +1.69% |
Jul 25, 2025 | $33.22 | $33.90 | +2.06% |
Apr 24, 2025 | $27.30 | $27.84 | +1.98% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Eni S.P.A. (E) report earnings?
Eni S.P.A. (E) is schdueled to report earning on Apr 24, 2026, Before Open (Confirmed).
What is Eni S.P.A. (E) earnings time?
Eni S.P.A. (E) earnings time is at Apr 24, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is E EPS forecast?
E EPS forecast for the fiscal quarter 2026 (Q1) is 0.82.