Eni Q1 Profit Up 15%; Affirms FY19 Production Outlook

(RTTNews) - Italian oil and gas company Eni SpA (E) reported Thursday that its first-quarter net profit attributable to shareholders increased 15 percent to 1.09 billion euros from 946 million euros a year ago. Earnings per share increased to 0.30 euro from 0.26 euro last year.

Adjusted attributable net profit for the quarter was 992 million euros, compared to 978 million euros a year ago. Adjusted earnings per share were 0.28 euro, compared to 0.27 euro last year.

Net sales from operations for the quarter rose 3 percent to 18.54 billion euros from 17.93 billion euros in the same period last year.

However, hydrocarbon production for the quarter declined 2 percent to 1,832 kboe/d from 1,867 kboe/d last year.

Looking ahead to fiscal 2019, Eni confirmed its growth rate for hydrocarbons production at 2.5 percent year-over-year, under a Brent price forecast of $62 per barrel and net of portfolio transactions.

Epi also confirmed the guidance for group capex of 8 billion euros for fiscal 2019.