Italian energy firm Eni lowers profit outlook and adjusts operating profit target due to falling oil prices.
Italian energy firm Eni has revised its annual profit outlook downward due to falling oil prices, lowering its adjusted operating profit target to 14 billion euros and cash flow guidance to 13.5 billion euros. The average oil price expectation has shifted from $86 to $83 per barrel. Despite these challenges, Eni has increased its shareholder distribution policy to 38% of cash flow and plans to buy back up to 400 million euros in shares.
October 25, 2024
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