• Eni’s 1Q adjusted net income came in at EU1.58 billion, paralleling estimates but reflecting a 46% year-on-year decrease
• Eni Exploration & Production sector clocked an adjusted operating profit of EU3.32 billion, surpassing the estimate of EU2.42 billion
• Eni’s Global Gas & LNG Portfolio sector reported an adjusted operating profit of EU325 million, slightly above the estimate of EU298.1 million
• Net income was marked at EU1.21 billion, falling 49% year-on-year and not meeting the estimate of EU1.56 billion
• Net cash from operations also decreased 36% year-on-year to EU1.90 billion, significantly below the estimate of EU3.26 billion
• Eni achieved a production volume of 1.74 million boe/d, slightly over the estimate of 1.69 million
• Liquids production reached 797,000 barrels/day, beating the estimate of 789,647
• Natural gas production saw an increase to 4.94 billion cubic feet/day as opposed to the estimated 4.84 billion
• The average realized price per barrel of liquid was $74.53, under the estimated price of $75.95
• Natural gas’s average realized price per thousand cubic feet was $7.04, much higher than the estimate of $5.94
• However, the standard Eni refining margin per barrel was slightly less than estimated at $8.70 compared to $8.91
• Looking ahead, Eni’s forecast for the adjusted operating profit is over EU14 billion, above the estimate of EU11.74 billion
• Production is expected to fluctuate between 1.69 million and 1.71 million boe/d, around the estimated 1.70 million
• Capital expenditure for the year is estimated to be around EU9 billion
• Lastly, Eni’s adjusted EBIT and cash flow from operations (CFFO) before working capital are both projected to surpass EU14 billion for the full year
A look at Eni SpA Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Eni SpA, a company engaged in exploring and producing hydrocarbons across various regions, shows a promising long-term outlook based on its Smartkarma Smart Scores. With a high score in Dividend and strong scores in Value and Growth, Eni demonstrates solid fundamentals and potential for future growth. However, its slightly lower scores in Resilience and Momentum indicate some areas for improvement. Nevertheless, Eni’s diversified operations and focus on value and dividends position it well for sustainable performance in the long run.
Eni SpA, known for its hydrocarbon exploration and production activities in multiple countries, received favorable scores in Value and Growth, indicating a positive long-term outlook. Its high Dividend score suggests a strong commitment to rewarding shareholders. While the company may face some challenges in terms of Resilience and Momentum, its broad business portfolio, including natural gas production and electricity generation, provides a solid foundation for continued success in the future.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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