Eni Cuts Profit Guidance on Weakening Oil-Price Outlook [Financial Post (Toronto, Ontario, Canada)]
ENI S.p.A. (E)
US:NYSE Investor Relations:
eni.com/en_it/investors.page
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Eni SpA lowered profit guidance for the year, reflecting a worsening oil-price outlook, even as third-quarter earnings beat analyst estimates. Europe's energy companies are reporting results for a period marked by lower crude prices and narrower margins for refining and chemical products. Eni reduced its forecast for full-year proforma adjusted earnings before interest and taxes to €14 billion ($15.2 billion) from previous guidance of about €15 billion. Quarterly adjusted net income edged above estimates at €1.27 billion. Although energy companies around Europe and elsewhere braced for weaker profits in the quarter, there's so far no sign they'll curtail returns to investors. Eni confirmed plans to raise its 2024 share buyback to €2 billion, a 25% increase on previous guidance. Financial Breakdown: Eni Cuts FY Pro Forma Adjusted Ebit Forecast
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- 11/20/24 - Form 6-K
- 11/13/24 - Form 6-K
- 11/6/24 - Form 6-K
- E's page on the SEC website