ENI Turns To Profit In Q1, Confirms FY21 Production View - Quick Facts

(RTTNews) - Italian oil and gas company Eni SpA (E) reported Friday that its first-quarter net profit was 856 million euros, compared to last year's loss of 2.93 billion euros. Earnings per share were 0.24 euro, compared to loss of 0.82 euro a year ago.

Adjusted net profit was 270 million euros or 0.08 euro per share, compared to prior year's 59 million euros or 0.02 euro last year.

Adjusted EBIT was 1.32 billion euros, same as last year. Sequentially, adjusted EBIT surged 171% from the fourth quarter of 2020.

Total revenues increased to 14.80 billion euros from last year's 14.09 billion euros.

Hydrocarbon production was 1.70 million boe/d, lower than last year's 1.79 million boe/d.

Looking ahead, the company reaffirmed the guidance for hydrocarbon production at about 1.7 million boe/d for fiscal 2021.