ENI Q3 Profit Surges, Production Down - Quick Facts

(RTTNews) - Italian oil and gas company Eni SpA (E) reported Friday that its third-quarter net profit attributable to Eni's shareholders climbed 387 percent to 5.86 billion euros from last year's 1.20 billion euros.

Earnings per share surged to 1.67 euros from last year's 0.33 euro.

Group adjusted net profit in the third quarter was 3.73 billion euros or 1.06 euros per share, compared to prior year's 1.43 billion euros or 0.39 euro per share.

Group adjusted EBIT was 5.77 billion euros in the quarter, up 132 percent from last year's 2.49 billion euros.

The company said it has continued to deliver positive results, mainly thanks to the robust performance of international businesses, despite a decline in crude oil prices and a rapid fall in refining margins.

Sales from operations climbed 96 percent to 37.30 billion euros from 19.02 billion euros a year ago.

Production in the third quarter of 2022 was 1.58 million boe/d, down 7 percent from last year due to lower contributions from Kazakhstan, Nigeria, and Norway.

For fiscal 2022, hydrocarbon production is now expected at 1.63 million boe/d.

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