ENI SpA : Results better than expected thanks to gas. Guidance and return of cash to shareholders maintained
>Operating profit well ahead of expectations - ENI has reported its Q2 2023 results, with an operating profit coming in at € 3.4bn, 27% ahead of expectations. Adjusted net profit stood at € 1.94bn, 18% ahead of estimates, a performance driven by the GGP division.GGP created further surprise with guidance lifted for 2023 - In E&P, adjusted operating profit was in line with forecasts at € 2,066m, i.e. -26% q-o-q with production up 2.7% to 1,611 kboe/d w...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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