Eni Misses Q1 Earnings But Lifts Buyback To €2.8 Billion

Italian energy major Eni reported first quarter adjusted net profit of €1.3 billion, below analyst expectations, as refining and chemicals weakness and heavy downstream maintenance weighed on results despite strong upstream production growth. Reported net income was about $1.5 billion. But the bigger headline was Eni's decision to raise its 2026 share buyback to €2.8 billion and lift cash flow from operations guidance 20% to €13.8 billion. Eni expects E&P production to increase 2-4% in the second quarter and 3-4% for the full…