ENI SpA : Q1 2021 earnings shy of expectations but cash momentum improving
>Operating profit 13% shy of expectations - Adjusted EBIT came in at € 1,321m in Q1 2021, ahead of our expectations but 13% below the consensus (ODDO BHF: € 1,163m; consensus: € 1,510m). Attributable net profit came in at € 270m and below expectations (ODDO BHF: € 302m; consensus: € 440m).E&P below expectations, guidance confirmed - EBIT adjusted for E&P came in at € 1,378m, shy of expectations (ODDO BHF: € 1,443m; consensus: € 1,520m), Eni did not m...Eni is engaged in the oil and gas exploration and production, gas marketing operations, management of gas infrastructures, power generation, petrochemicals, oil field services and engineering industries. Co.'s operations are divided into three segments; Exploration and Production (oil and natural gas exploration and field development and production, as well as LNG operations), Gas and Power (supply, trading and marketing of gas and electricity, managing gas infrastructures for transport, distribution, storage, re-gasification, and LNG supply and marketing), and Refining and Marketing (supply of crude oil, refining and marketing of refined products). Co. maintains operations in 73 countries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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