Report
Eni Q3 2026 results report
Eni more than doubled adjusted net profit to €2.80bn ($3.22bn) in Q3 2026, declared a €0.46 ($0.53) extraordinary dividend and raised its buyback to €3.8bn ($4.37bn). Profit, cash, debt and segments, from the company’s own results.
Eni reported adjusted net profit of €2.80bn ($3.22bn) for the third quarter of 2026 on 23 October 2026, up 20% on Q2 2026 and up 125% on Q3 2025. Net profit attributable to shareholders was €3.21bn ($3.69bn), almost four times the €803mn ($938mn) of a year earlier.
Proforma adjusted EBIT, Eni’s main operating measure, doubled year on year to €5.99bn ($6.90bn). Exploration & Production provided €4.63bn ($5.33bn) of it, and refining swung to a profit as margins jumped.
| Key number | Q3 2026 | Change |
|---|---|---|
| Adjusted net profit | €2.80bn ($3.22bn) | +20% vs Q2 2026; +125% vs Q3 2025 |
| Net profit (attributable) | €3.21bn ($3.69bn) | -3% vs Q2 2026; +299% vs Q3 2025 |
| Adjusted CFFO before working capital | €4.29bn ($4.93bn) | -4% vs Q2 2026; +30% vs Q3 2025 |
| Proforma gearing, 30 September 2026 | 9% | 15% at 30 June 2026 |
Net borrowings fell to €6.70bn ($7.71bn) and proforma gearing to 9%, which Eni calls a historic low. On the back of a stronger cash-flow outlook, it declared an extraordinary dividend of €0.46 ($0.53) a share, ~€1.3bn (~$1.5bn), payable on 9 December 2026, and raised its 2026 buyback to €3.8bn ($4.37bn).
Looking ahead, Eni raised its forecast for underlying oil and gas production growth in 2026 to 6–7%. It now expects 2026 adjusted cash flow from operations of €16.5bn (~$19.0bn), assuming Brent at $95/bbl.
Eni was the first major to report and set the tone for the season: a refining recovery on top of steady upstream growth, with the cash going to both shareholders and the balance sheet. Unlike most peers, it is paying out part of the windfall straight away through an extraordinary dividend, under a policy of returning all CFFO upside above set price thresholds. With gearing already at 9%, Eni has less need than others to keep cutting debt.
What the full report covers
The full report is a 7-page PDF for $9.99, available to download straight after payment. It covers:
- Headline numbers against the prior quarter and the prior year
- Profit, reported and adjusted, and what moved it
- Revenue and operating cash flow
- Capex, net debt and gearing
- Buybacks and dividends
- Segment results, with a table and a chart
- Production and throughput
- Guidance and outlook
- What it means
- Notes on the numbers and a full list of sources
The Eni logo is used only to identify the company this report is about. Entelera Research is independent and has no connection with, or endorsement from, Eni.
Sources
- Eni, Results for the third quarter and nine months of 2026, 23 October 2026 (PDF): www.eni.com
This summary is for information only and is not investment advice. It is based solely on the company’s own published results documents listed above; Entelera Research has not audited them. © 2026 Entelera (entelera.com).