Eni S.p.A. (NYSE: E) reported Q1 EPS of EUR0.48. Revenue for the quarter came in at EUR22.94 billion.

OUTLOOK

The company is providing the following updated operational and financial guidance for 2024: E&P: full-year hydrocarbon production is confirmed in a range of 1.69-1.71 mln boe/d at the revised Brent price of $86/bbl; GGP: €0.8B of pro forma adjusted EBIT for the full year confirmed.

Enilive and Plenitude: - pro forma adjusted EBITDA of €1B for each business for the full year is confirmed; - installed capacity from renewable sources is projected at 4 GW at 2024 year-end, with additional 2 GW of organic projects under construction.

Group financials: at the revised scenario the Group expected pro forma adjusted EBIT and CFFO before working capital are both raised above €14B for the full year.

Organic Capex: projected at about €9B for the full year as planned. Including the expected developments in the disposition plan, capex net of proceeds from disposal are confirmed in a range of €7B - 8B.

Shareholder’s Remuneration: the 2024 share buy-back is now expected to be €1.6 bln, a 45% increase versus the €1.1 bln guidance provided at the latest Capital Markets Update in March.

For earnings history and earnings-related data on Eni S.p.A. (E) click here.