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Eni SPA (E)
NYSE:E
Holding E?
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Earnings Data
Report Date
Feb 27, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.76Last Year’s EPS
$1.06Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2024
|% Change Since: -13.58%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted Eni's resilient financial performance, strategic investments, debt reduction, and increased shareholder returns. However, challenges in the chemical segment and weak bio scenarios were notable lowlights, balanced by significant achievements in upstream performance and strategic growth initiatives.Company Guidance
In the third quarter of 2024, Eni demonstrated resilience despite challenging market conditions, reporting a pro forma adjusted EBIT of EUR 3.4 billion and a cash flow from operations of EUR 2.9 billion, both down 14% year-on-year. The company successfully lowered its debt and leverage ahead of schedule, strengthening its balance sheet. Eni sanctioned two new biorefineries in South Korea and Malaysia, with construction at Livorno set to begin soon, and expects to start its first biojet plant in Gela by year-end. Eni's upstream segment was a significant contributor, with production increasing by 2% year-on-year and notable developments in Indonesia expected to yield over 400,000 barrels per day. The company also achieved key milestones in its carbon capture and storage (CCS) efforts, with the first CO2 injection at the Ravenna project in Italy and secured government funding for the HyNet CCS project in the UK. Despite a challenging environment, Eni maintained its commitment to shareholder returns, announcing an increase in its 2024 share buyback program to EUR 2 billion, reflecting strong financial performance and strategic progress.Resilient Financial Performance
Reported pro forma adjusted EBIT of EUR 3.4 billion and cash flow from operations of EUR 2.9 billion, despite a 14% year-on-year decline due to a deteriorating scenario.
Debt Reduction
Lowered net debt and leverage well ahead of the original plan, with expectations to further reduce leverage by year-end.
Strategic Investments and Growth
Confirmed EUR 2.9 billion investment by KKR into Enilive for a 25% stake, and sanctioned two biorefineries in South Korea and Malaysia.
Strong Upstream Performance
Upstream contributed EUR 3.2 billion of pro forma EBIT, with production up 2% year-on-year.
Increased Shareholder Returns
Increased 2024 share buyback to EUR 2 billion, reflecting better-than-planned progress in M&A and business performance.
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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
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E Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 25, 2024 | $30.52 | $30.61 | +0.29% |
| Jul 26, 2024 | $29.56 | $30.90 | +4.53% |
| Apr 24, 2024 | $32.15 | $31.46 | -2.15% |
| Feb 16, 2024 | $30.14 | $29.05 | -3.62% |
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.
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FAQ
When does Eni SPA (E) report earnings?
Eni SPA (E) is schdueled to report earning on Feb 27, 2025, Before Open Not Confirmed.
What is Eni SPA (E) earnings time?
Eni SPA (E) earnings time is at Feb 27, 2025, Before Open Not 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 2024 (Q4) is $0.76.
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