Eni Smashes Earnings Estimates with Record Gas Performance

Eni’s (NYSE: E) fourth-quarter and 2023 earnings exceeded consensus estimates as “record-breaking” performance in the gas and LNG division offset weaker oil and gas prices and refining margins.  The Italian energy major reported on Friday adjusted net profit of $1.76 billion (1.64 billion euros) for the fourth quarter, down by 34% on the year, but slightly higher than analyst expectations.  For the full year 2023, Eni’s adjusted net profit fell by 38% to $8.9 billion (8.3 billion euros), due to weaker…