Analyst Consensus ?
ConsensusHold26 ratings
Bullish934.6%
Neutral1661.5%
Bearish13.9%
Eni S.p.A. · E · FY2025 Q4 · Calendar Q1 2026
Eni pairs production growth with tighter 2026 capex and transition expansion
Eni’s current analysis supports a constructive operating picture: production growth, strong cash generation, lower planned capex and expansion in transition businesses provide evidence of a diversified growth and returns framework. The case still depends on execution across the Petronas transaction and new projects, improvement in chemicals, and resilience to commodity, regulatory and arbitration risks.
Reported Before market openNYSEEnergy
$90.46B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.87
Consensus $0.78
EPS surprise
+11.5%
Reported versus consensus
Reported revenue
$24.32B
Consensus $21.16B
Revenue surprise
+14.9%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.5%
Event window
SPY move
-0.6%
Same window
Abnormal move
+3.0%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
+18.8%
Up to 20 sessions
ESPY benchmark
Ask FN2 about E FY2025 Q4
Transcript, numbers and history already loaded
Why did E rise 2.5% after beating EPS estimates in FY2025 Q4?What changed in E's guidance and outlook in FY2025 Q4?Give me the bull and bear case for E after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, the current analysis shifts from raised guidance and upstream/LNG momentum to maintained guidance for 2026, with gross capex reduced to €7bn and net capex below €5bn. Eni also highlighted €12.5bn of cash flow, €3bn of debt reduction, a larger buyback, the Petronas combination and a phased 500-MW AI data-centre initiative.
Guidance delta
Maintained; management highlighted 2026 gross capex of €7bn and net capex below €5bn.
Key takeaways
- Production increased 7% year over year, beating guidance.
- 2026 gross capex was set at €7bn, with net capex below €5bn.
- Cash flow of €12.5bn supported €3bn of debt reduction and a 20% increase in the share buyback.
- Plenitude and Enilive expanded, while chemicals remained under pressure.
- The Petronas joint venture, new upstream FIDs and the Italian AI data-centre project add execution priorities.
Management priorities
- Finalize the Petronas joint venture and target its planned production contribution.
- Advance selected 2026 FIDs in Argentina, Côte d’Ivoire, Cyprus and Africa.
- Continue Plenitude customer growth and complete the Acea Energia acquisition.
- Advance Enilive biorefineries and CCS projects in the UK, Netherlands and Italy.
- Roll out the 500-MW Italian AI data centre in phases and provide more detail at the Capital Markets Day.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$62.08Current
$34.6Low
$61.3Average
$90High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Sector Perform | Sector Perform | Maintain | Apr 9, 2026 |
| JP Morgan | Overweight | Underweight | Upgrade | Mar 2, 2026 |
| UBS | Buy | Neutral | Upgrade | Nov 25, 2025 |
| Morgan Stanley | Equal Weight | Overweight | Downgrade | Jan 7, 2025 |
| Bernstein | Market Perform | Outperform | Downgrade | Sep 23, 2024 |
| Redburn Atlantic | Buy | Neutral | Upgrade | Jun 25, 2024 |
| Berenberg | Hold | Buy | Downgrade | Mar 20, 2024 |
| HSBC | Buy | Hold | Upgrade | Mar 21, 2022 |
| Barclays | Overweight | Underweight | Upgrade | Nov 19, 2021 |
| Jefferies | Buy | Hold | Upgrade | Apr 12, 2021 |
| Credit Suisse | Neutral | Underperform | Upgrade | Apr 12, 2021 |
| Citigroup | Neutral | Buy | Downgrade | May 7, 2019 |
| Exane BNP Paribas | Neutral | Underperform | Upgrade | Jan 11, 2017 |
| Deutsche Bank | Buy | Hold | Upgrade | Oct 5, 2016 |
| Societe Generale | Hold | Buy | Downgrade | May 2, 2016 |
| BTIG Research | Neutral | Buy | Downgrade | Nov 6, 2015 |
| BTIG | Neutral | Buy | Downgrade | Nov 6, 2015 |
| Nomura | Neutral | Reduce | Upgrade | Oct 12, 2015 |
| BMO Capital | Underperform | Underperform | Maintain | Sep 28, 2015 |
| Canaccord Genuity | Hold | Buy | Downgrade | Jan 16, 2015 |
| Raymond James | Outperform | Market Perform | Upgrade | Mar 25, 2014 |
| Natixis | Buy | Neutral | Upgrade | Oct 31, 2013 |
| Fidentis | Hold | Hold | Maintain | Aug 2, 2013 |
| Goldman Sachs | Neutral | Buy | Downgrade | May 29, 2013 |
| Santander | Hold | Buy | Downgrade | Apr 25, 2013 |
| Investec | Hold | Sell | Upgrade | Feb 15, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $62.08. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| BNP Paribas | Analyst unavailable | $56.3 | $54.55 | -9.3% | Oct 7, 2026 |
| UBS | Analyst unavailable | $90 | $55.04 | +45.0% | Sep 25, 2026 |
| BNP Paribas | Eni to Outperform | $64.3 | $55.39 | +3.6% | Apr 17, 2026 |
| Morgan Stanley | Martijn Rats | $34.6 | $34.69 | -44.3% | Sep 3, 2025 |
| Morgan Stanley | Martijn Rats | $39.6 | $32.86 | -36.2% | Aug 29, 2024 |
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Start freeCompany context
Snapshot as of publicationEni S.p.A. is an international energy company primarily engaged in the discovery, development, and extraction of crude oil and natural gas resources. Its operations are organized into distinct divisions: Exploration & Production; Global Gas & LNG Portfolio; Refining & Marketing and Chemicals; Plenitude and Power; and Corporate and Other activities. The Exploration & Production division is responsible for the research, development, and output of oil, condensates, and natural gas, additionally undertaking initiatives in forestry conservation and carbon dioxide capture and storage.…
Historical context
All E earningsEnergy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| SLB Slb N.V. | FY2026 Q3 · Calendar Q4 2026 | — | +7.4% | SLB sees broad-based growth as digital and cooling expand |
| VLO Valero Energy Corporation | FY2026 Q3 · Calendar Q4 2026 | +12.9% | -2.4% | Valero Q3: Record Profitability, Strong Cash Generation and Execution Risks |
Latest beats and misses
Who reports nextBeat on EPS
- EFY2026 Q3 · October 23, 2026+13.9% EPS+4.3% move
- RITM-PDFY2026 Q3 · October 23, 2026+10.2% EPS— move
- FIXFY2026 Q3 · October 22, 2026+8.2% EPS-8.5% move
- DECKFY2027 Q2 · October 22, 2026+13.4% EPS-0.2% move
- OMCFY2026 Q3 · October 22, 2026+2.2% EPS+2.6% move
- SSNCFY2026 Q3 · October 22, 2026+0.6% EPS+2.8% move
Missed on EPS
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
- HBANPFY2026 Q3 · October 22, 2026-5.3% EPS0.0% move
Get the E recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-24T01:40:41.612204+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-24T01:40:41.609407+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-24. For educational purposes only; not investment advice.