The chart below shows how E performed 10 days before and after its earnings report, based on data from the past quarters. Typically, E sees a -1.27% change in stock price 10 days leading up to the earnings, and a +0.49% change 10 days following the report. On the earnings day itself, the stock moves by +0.85%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Strong Q3 Financial Performance: In Q3, we reported resilient results, with pro forma adjusted EBIT of €3.4 billion and cash flow from operation of €2.9 billion.
Debt Reduction Strategy: We lowered debt and leverage well ahead of our original plan.
Strategic Business Execution: We are executing at pace around a clearly defined portfolio of businesses.
KKR Investment Confirmation: We are delighted to have confirmed the investment by KKR into Enilive, with a €2.9 billion investment for a 25% stake.
Biorefinery Sanctions and Construction: In Q3, we sanctioned two biorefineries, South Korea and Malaysia, and confirmed that the construction work at Livorno will begin soon.
Negative
Resilient Q3 Financial Performance: In Q3, we reported resilient results, with pro forma adjusted EBIT of €3.4 billion and cash flow from operation of €2.9 billion, down just 14% year-on-year despite a deterioration in the scenario across most of our main businesses.
Upstream Business Performance: Our upstream businesses were the standout contributors to our results this quarter.
Low Finance Expense Stability: Finance expense remains low even before debt begins to fall materially, while the tax rate at 51% was consistent with this quarter's oil price and earnings mix.
Consistent Cash Flow Conversion: Cash flow from operation for the quarter was €2.9 billion, giving €10.7 billion for the nine months, a consistent conversion of profits into cash.
European Chemicals Industry Decline: The European chemicals industry has further deteriorated in 2024 and it is not expected to improve in 2025.
Eni S.p.A. (E) Q3 2024 Earnings Call Transcript
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