Eni SPA (ENI1) AI Stock Analysis

Company Guidance

Eni raised full-year underlying production guidance to 6-7%, expects full-year 2026 cash flow from operation at EUR 16.5 billion and a full-year charge of between 36% and 37%, and said capital expenditure of EUR 1.35 billion is consistent with the EUR 7 billion guidance; it expects LNG equity production of more than 20 million tonnes per year by 2030 and 2026 full-year pro forma EBIT of around EUR 1.5 billion, while projects sanctioned in FY 2026 will deliver at around 600,000 bpd of new production at 2030. Management said future CapEx could remain in the range of what we have seen this year and also last year, Argentina financing is targeted at 65%-70%, Junín 5 Phase 1 is expected in 18 and 24 months, 400,000 bpd by end of 2029 and 1 million barrels per day in mid, let us say, 2032, 2033, and Perla’s export phase is about 3.4, 3.5 million tons per annum, expected three and a half year after FID; the 2026 share buyback was raised to EUR 3.8 billion from EUR 3.4 billion, with an exceptional dividend of EUR 1.3 billion, total cash dividend of EUR 4.4 billion, total payout of EUR 8.2 billion or 50% of cash flow from operation, and a yield on the share price of more than 11%.