Italian energy group Eni ENI.MI beat analysts’ expectations for third-quarter adjusted net profit thanks to a better than anticipated performance of its exploration and production (E&P) division.

Adjusted net profit in the period came in at 1.82billion euros versus a company-provided analyst consensus of 1.63 billion euros. That was down from a bumper result of 3.73 billion euros a year agowhen energy prices surged in response to Russia’s invasion of Ukraine.

The state-controlled group said it raised its full-year guidance for core earnings at its low-carbon unit Plenitude.
Source: Reuters (Reporting by Francesca Landini, editing by Gavin Jones)