Eni SPA (E)
NYSE:E
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Earnings Data
Report Date
Jul 24, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.79Last Year’s EPS
0.86Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive strategic and financial picture: strong exploration results (adding roughly 1 billion BOE of resources), solid pro forma EBIT (EUR 3.5bn), upgraded 2026 cash flow guidance (pre-working capital EUR 13.8bn, +20%) and a materially enhanced shareholder distribution plan (buyback ~EUR 2.8bn). These positives were balanced against near-term headwinds — Q1 refinery maintenance reducing downstream capture, a large working capital drag from March price spikes, cost inflation and some non-commercial exploration outcomes — but management provided clear mitigation plans (CapEx discipline, transformation of chemicals, Plenitude deconsolidation) and expects many impacts to reverse or improve over the year.Company Guidance
Strong Pro Forma EBIT and Operating Cash Flow
Reported pro forma EBIT of EUR 3.5 billion and cash flow from operations of EUR 2.9 billion in Q1 2026.
Healthy Balance Sheet and Low Gearing
Pro forma gearing at 15% for the quarter and an adjusted pro forma gearing of 12% assuming full effect of Plenitude deconsolidation; Plenitude net debt to be deconsolidated ~EUR 2.6 billion.
Exceptional Exploration Success (~1 billion BOE)
Declared an exceptionally strong start to 2026 with roughly 1 billion barrels of oil equivalent of new resources across seven countries, including major finds: Algaita (≈500 million barrels oil in place), Murene South-1/Calao extension (up to 5 Tcf gas and 450 million barrels in place), Libya offshore gas (>1 Tcf), Denise (Egypt: ~2 Tcf gas and 130 million barrels condensate in place), Geliga (Indonesia: ~5 Tcf gas and 300 million barrels condensate) plus Gula (~2 Tcf and 70 million barrels) — many near existing infrastructure enabling fast time-to-market.
Production Growth and New Start-Ups
E&P delivered 9% year-on-year production growth, helped by start-up of production at NGC (Angola) and first LNG export from the second Congo LNG train; visible production growth to 2030.
Upgraded Cash Flow and Distribution Outlook
Updated cash flow from operations (pre-working capital) estimate to EUR 13.8 billion for 2026 (up 20% vs EUR 11.5 billion in March); proposed share buyback increased ~90% to EUR 2.8 billion (floor for 2026) to be put to AGM.
Transition and Renewables Momentum
Transition businesses: Q1 pro forma EBITDA EUR 0.52 billion (in line with FY guidance EUR 2.4 billion); Plenitude gross EBITDA expected +20% to EUR 1.3 billion; Enilive to reach EBITDA of EUR 1.1 billion, +16% YoY; Plenitude acquisition (Acea Energy) closed post-quarter (~EUR 500 million).
CapEx Discipline
Q1 CapEx EUR 1.9 billion in line with FY guidance of ~EUR 7 billion; net CapEx broadly equal to gross indicating limited portfolio spend in the quarter.
Operational and Strategic Milestones
Major FIDs and restructurings progressed (Geng North and Gehem FIDs in Indonesia; agreement to reorganize/deconsolidate Plenitude; advancing two new biorefineries at Sannazzaro and Priolo); announced sale of 10% stake in Baleine (Ivory Coast) to SOCAR.
Tax and Cash Tax Rate Consistent with Guidance
Reported tax rate of 42% in line with guidance and a cash tax rate of around 25%.
Shareholder Returns and Capital Management
Paid third quarterly dividend referring to 2025 in March and repurchased EUR 280 million of shares in the quarter; shares outstanding reduced by 17% since end-2021.
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 |
|---|---|---|---|
Apr 24, 2026 | $54.65 | $54.11 | -0.99% |
Feb 26, 2026 | $44.10 | $45.18 | +2.45% |
Oct 24, 2025 | $35.51 | $36.10 | +1.68% |
Jul 25, 2025 | $32.94 | $33.62 | +2.06% |
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 SPA (E) report earnings?
Eni SPA (E) is schdueled to report earning on Jul 24, 2026, Before Open (Confirmed).
What is Eni SPA (E) earnings time?
Eni SPA (E) earnings time is at Jul 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 (Q2) is 1.79.