Eni Reports Strong Q2 Earnings in 2026
In the second quarter of 2026, Eni reported EUR 5.4 billion pro forma earnings before interest and taxes (EBIT) and EUR 2.3 billion net income, both doubling year-on-year. Cash flow from operations reached EUR 4.5 billion, a more than 60% increase compared to the previous year. The company attributed this strong performance to effective execution of its strategy amid challenging foreign exchange conditions. Eni's CEO Claudio Descalzi highlighted that despite volatility caused by a new crisis in the Gulf, Eni maintained resilience through geographic diversification and operational efficiency. Pro forma gearing dropped to 10%, reaching the lower end of their target range. The company emphasized its multidimensional growth strategy across exploration, production, low-carbon energy, trading activities, critical minerals, and stationary batteries. The CEO also noted continued success in upstream operations alongside rapid expansion into new technologies and geographies, supported by a satellite model that attracts third-party capital for Eni's projects.
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