Eni Second Quarter 2024 Earnings: Misses Expectations

Eni (BIT:ENI) Second Quarter 2024 Results

Key Financial Results

• Revenue: €23.1b (up 16% from 2Q 2023).
• Net income: €661.0m (up 125% from 2Q 2023).
• Profit margin: 2.9% (up from 1.5% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: €0.21 (up from €0.088 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Eni Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 19%. Earnings per share (EPS) also missed analyst estimates by 57%.

Looking ahead, revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Oil and Gas industry in Europe.

Performance of the market in Italy.

The company's shares are up 2.9% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Eni that you should be aware of.

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