Thursday, June 4, 2020

Eni Q1 Profit Misses Forecast

April 24, 2019

(Photo: Eni)

Italian energy group Eni stuck to its production growth targets for the year on Wednesday, as it reported profits for the first quarter coming in below market expectations.

Adjusted net profit in the quarter rose 4 percent to 992 million euros ($1.1 billion), below an analyst consensus provided by the company of 1.05 billion euros.

The oil major confirmed its oil and gas production would grow by 2.5 percent in 2019 with Brent at $62 per barrel and net of portfolio transactions. 

($1 = 0.8922 euros)

(Reporting by Stephen Jewkes Editing by Isla Binnie)

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