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Eni's Q3 earnings slide YOY but meet Street estimates

Eni SpA on Oct. 25 reported an adjusted net profit of €776 million, or 22 euro cents per share, in the third quarter, compared with €1.39 billion, or 39 euro cents per share, a year ago.

The S&P Global Market Intelligence consensus normalized earnings estimate for the third quarter was 22 euro cents per share.

Eni reported a net profit attributable to shareholders of €523 billion for the quarter, compared with €1.53 billion in the prior-year period.

Adjusted operating profit totaled €2.16 billion for the quarter, representing a 35% decrease from 3.30 billion in the same period a year ago.

Eni posted net sales from operations of €16.69 billion, compared with €19.70 billion in the year-ago period.