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Eni (ENI) investor relations material
Eni Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 pro forma adjusted EBIT was €5.994bn, double YoY; adjusted net profit was €2.801bn, and underlying production rose 7% to 1.83m boe/d.
9M adjusted pro forma EBIT was €14.905bn (+59% YoY), adjusted net profit €6.436bn (+70%) and adjusted CFFO €11.634bn.
Operational growth, portfolio actions and a lower-debt profile supported higher shareholder distributions and strategic investment.
Financial highlights
Q3 sales from operations were €28.072bn (+39% YoY); reported operating profit was €2.477bn versus €1.344bn.
Q3 adjusted CFFO before working-capital changes was €4.287bn; 9M adjusted CFFO was €11.634bn.
Q3 organic capex was €1.345bn; 9M organic capex was €5.06bn, down 14% YoY, and total capex was €5.4bn.
9M adjusted EBIT was €9.6bn and income from investments €1.8bn; adjusted pro forma EBIT was €14.9bn.
Q3 adjusted pre-tax earnings rose to €4.3bn from €2.3bn YoY, supported by higher realizations, favorable volumes and transition business performance.
Outlook and guidance
FY26 underlying production growth guidance rose to 6–7%, from initial guidance of 3–4%; adjusted CFFO guidance is €16.5bn.
FY26 GGP pro forma EBIT guidance rose to ~€1.5bn; Enilive adjusted EBITDA guidance is €1.4bn and Plenitude EBITDA guidance is ~€1.2bn.
FY26 gross/organic capex guidance is €7bn; net capex guidance is below €4.5bn.
FY26 buyback increased to €3.8bn and an extraordinary €1.3bn dividend (€0.46/share) was approved for December.
Outlook assumes Brent at $95/bbl, SERM refining margin at $18/bbl and TTF gas at €55/MWh; pro forma gearing is expected at the bottom of the 10–15% guided range.
- Production growth and record GGP results cushioned weaker earnings and sustained €4.8bn returns.ENI
Q4 2023 - Upstream and energy transition businesses drive growth, with strong capital returns and innovation focus.ENI
EnerCom Denver – The Energy Investment Conference - Adjusted EBIT up 40% and net profit up 156% on strong E&P, transition growth, and Searah JV gain.ENI
Q2 2026 - Strong Q1 2026 results, 9% production growth, €3.54 bln EBIT, €1 bln returned to shareholders.ENI
Q1 2026 - Dual growth in upstream and transition businesses drives higher returns and shareholder distributions.ENI
CMD 2026 - 2025 saw record growth, robust cash flow, and top-tier shareholder returns with low gearing.ENI
Q4 2025 - H1 2025 delivered strong cash flow, deleveraging, and strategic growth in LNG and renewables.ENI
Q2 2025 - Resilient Q3, €3.4B EBIT, €4.4B 9M profit, major investments, and higher shareholder returns.ENI
Q3 2024 - Strong EBIT, production growth, and portfolio upgrades drive robust results and higher returns.ENI
Q2 2024
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