Eni Smashes Earnings Estimates with Record Gas Performance

Eni’s NYSE E fourth-quarter and 2023 earnings exceeded consensus estimates as “record-breaking” performance in the gas and LNG division offset weaker oil and gas prices and refining margins. The Italian energy major reported on Friday adjusted net profit of $1.76 billion 1.64 billion euros for the fourth quarter, down by 34% on the year, but slightly higher than analyst expectations. For the full year 2023, Eni’s adjusted net profit fell by 38% to $8.9 billion 8.

For the fourth quarter and full-year 2023, Eni’s pro-forma adjusted core earnings, or EBIT, were supported by steady results in the exploration and production division and “a record-breaking GGP performance,” the company said. At the gas division, adjusted core earnings hit a record $3.44 billion 3.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

TC Energy Books Record Earnings amid High Natural Gas DemandTC Energy Corporationreportedon Friday record comparable core earnings and earnings per share for 2023, topping analyst estimates, as demand for natural gas and LNG surged
Source: OilandEnergy - 🏆 34. / 68 Read more »

Tesla Q4 Earnings: What to ExpectAnalysts expect Tesla to announce a revenue of $25.87 billion and EPS of $0.73 for Q4. The company's margins and production numbers will be closely watched.
Source: OilandEnergy - 🏆 34. / 68 Read more »

Enbridge Books Q4 Earnings Below ForecastsCanada's pipeline operator Enbridge reported on Friday earnings for the fourth quarter which were below Wall Street forecasts
Source: OilandEnergy - 🏆 34. / 68 Read more »

Eni Smashes Earnings Estimates with Record Gas PerformanceEni's fourth-quarter and 2023 earnings surpassed estimates, largely due to a record-breaking performance in its gas and LNG division, offsetting weaker oil prices and refining margins.
Source: OilandEnergy - 🏆 34. / 68 Read more »