Eni Reports Strong Second Quarter Profit in 2026
Italian energy company Eni reported a significant increase in its adjusted net profit for the second quarter of 2026, reaching €2.33 billion ($2.65 billion), up from €1.13 billion during the same period in 2025—a year-on-year rise of 106%. This growth was attributed to a lower tax rate and improved geographical distribution of profits across its operations. The company's Exploration & Production (E&P) segment led this performance, with proforma adjusted EBIT rising by 97% YoY. Eni also revised its production guidance for the year upward due to strong underlying output growth and new project developments in Côte d'Ivoire, Angola, Cyprus, and a joint venture with Petronas. Eni's cash flow generation improved significantly, allowing it to fund capital expenditures and deliver shareholder returns through initiatives like a €3.4 billion share buyback program for 2026.