Eni said Wednesday that profit for the first quarter fell while total revenue declined year over year.
Net profit attributable to shareholders for the three months ended March 31 was 1.21 billion euros, compared with 2.39 billion euros earlier. EPS was 0.37 euro, compared with the previous 0.70 euro.
The Italian oil giant's total revenue was 23.17 billion euros, compared with 27.38 billion euros a year ago.
Analysts polled by Visible Alpha were expecting 1.68 billion euros in net income or 0.52 euro per share, while revenue was estimated at 22.43 billion euros.
Meanwhile, the board proposed a dividend of 1 euro per share for 2024, marking a 6% increase from the previous year. The dividend will be paid in four installments beginning in September 2024.