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Eni Q1 Profit Drops, Production Rises; Lifts Share Buyback To EUR 2.8 Bln

April 24, 2026 — 02:26 am EDT

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(RTTNews) - Italian energy major Eni S.P.A. (E) reported Friday lower profit in its first quarter, despite growth in revenues and production amid the challenges of volatile energy markets.

Further, the company has raised its proposed share buyback by around 90 percent to 2.8 billion euros from initial plan of 1.5 billion euros, consistent with its distribution policy.

Looking ahead for fiscal 2026, Eni said it is backing its outlook of sustained operational growth and cash flow generation.

Underlying oil & gas production growth is expected at 3 percent to 4 percent for the year. GGP adjusted proforma EBIT is now guided at around 1.3 billion euros, up 30 percent from the initial forecast.

Further, the firm confirmed the planned 2026 dividend of 1.1 euros per share, up 5 percent from the prior year.

In the first quarter, net profit attributable to Eni's shareholders dropped 9 percent to 1.07 billion euros from last year's 1.17 billion euros.

Adjusted net profit was 1.30 billion euros, compared to 1.41 billion euros a year ago. Adjusted net profit before taxes declined 13 percent year-over-year to 2.38 billion euros.

The company's quarterly adjusted operating profit dropped 7 percent from last year to 2.42 billion euros, and proforma adjusted EBIT fell 4 percent to 3.54 billion euros.

Sales from operations, however, grew 2 percent to 22.96 billion euros from last year's 22.57 billion euros.

Hydrocarbon production of 1,798 kboe/d grew 9 percent from 1,647 kboe/d a year ago, driven by project ramp-ups in West Africa/Norway and start-ups in Angola, as well as good operational continuity. These were partly offset by some limited impact from Middle East disruptions.

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