Q4 numbers beat forecasts at Eni
By Abigail Townsend
Date: Thursday 26 Feb 2026
(Sharecast News) - Italian oil and gas firm Eni posted above-forecast fourth-quarter numbers on Thursday, boosted by a strong performance in exploration and production.
The Rome-based business saw net profits jump 35% in the final three months of 2025 to €1.2bn, comfortably ahead of consensus for €960m.
Hydrocarbon production was also better than expected, up 7% at 1.839m barrels of oil equivalent per day, after the state-controlled group started a number of major upstream projects throughout 2025.
Exploration and production reported proforma adjusted earnings before interest and tax of €2.8bn, up 1% on the previous year, despite falls in the price of crude and the weak exchange rate throughout the year.
Claudio Descalzi, chief executive, said: "In 2025, we proved that the consistent execution of our strategy...is delivering a resilient business with structurally stronger earnings power. We delivered strong operational performance, brought key projects on stream on schedule and continued to reduce debt while increasing returns to investors.
"Exploration and production results were outstanding."
Eni is due to publish full guidance for 2026 at a capital markets day in March. However, ahead of that it said oil and gas production growth was expected to be consistent with internal forecasts for 2025-2028.
Over the full year, oil and gas production ticked up 1%, while net income fell 5% to €4.99bn.
As at 1145 GMT, the Milan-based stock was trading 2% higher.
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