Eni Third Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 10/26 06:12

Eni (BIT:ENI) Third Quarter 2024 Results

Key Financial Results

  • Revenue: €21.0b (down 7.2% from 3Q 2023).
  • Net income: €522.0m (down 73% from 3Q 2023).
  • Profit margin: 2.5% (down from 8.5% in 3Q 2023).
  • EPS: €0.17 (down from €0.58 in 3Q 2023).
earnings-and-revenue-history
BIT:ENI Earnings and Revenue History October 26th 2024

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 5.2%. Earnings per share (EPS) also missed analyst estimates by 55%.

Looking ahead, revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Oil and Gas industry in Europe.

Performance of the market in Italy.

The company's shares are up 2.3% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Eni that you need to be mindful of.