Italian energy company Eni raised its 2026 share buyback program to $3.9 billion after reporting second-quarter earnings that more than doubled year-over-year, surpassing consensus estimates. The results were driven by higher oil and gas prices and a 7% increase in production.
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Eni Boosts Buybacks as Q2 Earnings Beat Estimates on Higher Prices
IN SHORT
Italian energy company Eni raised its 2026 share buyback program to $3.9 billion after reporting second-quarter earnings that more than doubled year-over-year, surpassing consensus estimates. The results were driven by higher oil and gas prices and a 7% increase in production.
Frequently asked questions
Eni reported an adjusted net profit of $2.65 billion for the second quarter, more than double the $1.29 billion from the same period last year.
The profit jump was attributed to higher oil and gas prices, increased production volumes, and effective cost management.
Eni increased its 2026 share buyback program by $683 million, bringing the total to $3.9 billion.
The company raised its guidance for 2026 underlying production growth to around 5%.
What Happens Next
01Eni will continue to execute its increased share buyback program.
02The company will aim to achieve its revised 2026 production growth target of around 5%.
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