Eni SpA E is set to report third-quarter 2026 results on Oct. 23, after the closing bell.
In the last reported quarter, its earnings of $1.76 per share missed the Zacks Consensus Estimate of $1.90 due to higher commodity realizations, production growth and stronger segment profitability. The integrated energy player’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the average negative surprise being 0.22%. This is depicted in the graph below:
Estimate Trend for E
The Zacks Consensus Estimate for third-quarter earnings per share of $1.92 hasn’t seen any revisions over the past seven days. The estimated figure indicates a 113.3% improvement from the prior-year reported number.
The Zacks Consensus Estimate for revenues of $22.7 billion implies a 5.3% decrease from the year-ago recorded figure.
Eni SpA Price and EPS Surprise
Eni SpA price-eps-surprise | Eni SpA Quote
Factors to Consider for E
To understand how oil prices behaved in the September quarter, let's analyze the commodity prices from the data provided by the U.S. Energy Information Administration (“EIA”). The average Europe Brent spot prices for July, August and September of this year were $83.76 per barrel, $91.08 per barrel and $114.16 per barrel, respectively, per EIA data. Commodity prices were $71.04 per barrel, $67.87 per barrel and $67.99 per barrel in the prior-year respective quarters, according to the EIA.
A constructive oil-price backdrop, driven by the Middle East conflicts, aided the upstream businesses in the September quarter. This, in turn, is expected to have backed Eni’s exploration and production operations.
Earnings Whispers
Our proven model doesn’t indicate an earnings beat for E this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That isn’t the case here, as you will see below.
Earnings ESP: E has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: E currently carries a Zacks Rank #2.
Stocks to Consider
Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
ExxonMobil Holdings Corporation XOM has an Earnings ESP of +6.68% and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
XOM is scheduled to release third-quarter 2026 earnings on Oct. 30. The Zacks Consensus Estimate for XOM’s earnings is pegged at $3.92 per share, indicating a 108.5% improvement from the prior-year reported figure.
EOG Resources EOG has an Earnings ESP of +1.93% and carries a Zacks Rank #2 at present. EOG is scheduled to release third-quarter 2026 earnings on Nov. 5.
The Zacks Consensus Estimate for EOG’s earnings is pegged at $4.39 per share, suggesting a 62% improvement from the prior-year reported figure.
BP plc BP has an Earnings ESP of +4.33% and a Zacks Rank #1. BP is scheduled to release third-quarter 2026 earnings on Oct. 30.
The Zacks Consensus Estimate for BP’s earnings is pegged at $2.30 per share, suggesting a 171% increase from the prior-year reported figure.
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Eni SpA (E): Free Stock Analysis Report
BP p.l.c. (BP): Free Stock Analysis Report
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EOG Resources, Inc. (EOG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).