Eni reports $2.65 billion adjusted net profit for Q2, surpassing estimates amid higher oil and gas prices and production growth.
Eni increased its 2026 share buyback program following a stronger-than-expected second-quarter earnings report. The Italian energy company posted an adjusted net profit of $2.65 billion, more than double the $1.29 billion recorded in the same period last year and above its $2.4 billion guidance.
The profit surge was driven by higher oil and gas prices and a rise in upstream production. Analysts had anticipated a lower figure, but Eni outperformed expectations, reflecting improved operational performance and market conditions.
Shares of Eni edged higher in early trading as investors reacted to the earnings beat and the expanded buyback plan.