Eni beats Q4 profit forecasts thanks to strong gas, LNG business

By Thomson Reuters Feb 16, 2024 | 1:17 AM

MILAN (Reuters) – Italian energy group Eni reported on Friday fourth-quarter adjusted net profit of 1.64 billion euros ($1.8 billion), beating analysts expectations thanks to a better than expected performance of its global gas and LNG division.

The quarterly result pushed Eni’s 2023 net profit to 8.3 billion euros, down 38% from a year before when the group posted bumper earnings on the back of soaring energy prices.

($1 = 0.9293 euros)

(Reporting by Francesca Landini, editing by Giulia Segreti)