Eni Earnings Rise on Higher Production
By Adam Whittaker
Italian energy major Eni reported a rise in fourth-quarter earnings despite lower oil prices as it benefited from higher production and cost efficiencies.
The integrated oil-and-gas company said Thursday that adjusted net profit--the company's preferred metric--jumped 35% to 1.2 billion euros ($1.42 billion) compared with the same period a year earlier. This came ahead of the 960 million euros analysts had expected according to a company-compiled consensus.
Net profit however slipped to 90 million euros from 230 million euros.
The company said that its earnings were supported by a more than 7% rise in oil and gas production that helped offset a 15% decline in crude oil prices. Eni said cost efficiencies boosted its earnings, while its refining unit swung to a profit helped by improved margins.
Adjusted pro forma earnings before interest and tax were up 6% to 2.865 billion euros.
Fourth-quarter hydrocarbon production was 1.84 million barrels of oil equivalent per day, the company said.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
February 26, 2026 02:28 ET (07:28 GMT)
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