Eni S.p.A. (NYSE:E) Q3 2024 Earnings Conference Call October 25, 2024 8:00 AM ET
Company Participants
Francesco Gattei – Chief Transition & Financial Officer
Adriano Alfani – Chief Executive Officer, Versalis
Guido Brusco – Chief Operating Officer, Global Natural Resources
Giuseppe Ricci – Chief Operating Officer, Industrial Transformation
Stefano Ballista – Chief Executive Officer, Eni Sustainable Mobility
Conference Call Participants
Josh Stone – UBS
Alessandro Pozzi – Mediobanca
Giacomo Romeo – Jefferies
Kim Fustier – HSBC
Biraj Borkhataria – RBC
Irene Himona – Bernstein
Matt Smith – Bank of America
Michele Della Vigna – Goldman Sachs
Peter Low – Redburn Atlantic
Massimo Bonisoli – Equita
Lydia Rainforth – Barclays
Henry Tarr – Berenberg
Paul Redman – BNP Paribas
Matt Lofting – JPMorgan
Operator
[Starts Abruptly] Chief Transition and Financial Officer. For the duration of the call, you will be in listen-only mode. However, at the end of the call, you will have the opportunity to ask questions. [Operator Instructions]
I’m now handing you over to your hosts to begin today’s conference. Thank you.
Francesco Gattei
Thank you. Good afternoon, and welcome to Eni’s third quarter and nine months 2024 results conference call.
Energy markets continue to be volatile and unpredictable, driven by a mixture of fundamentals, geopolitics, and speculative trading flows. Our focus is on maintaining resilient and competitive operating and financial performance, reinforcing our balance sheet while funding both investment into the business and attractive distributions to shareholders and progressing our strategy. In the third quarter, we clearly continued to deliver on all those objectives.
In Q3, we indeed reported resilient results, with pro forma adjusted EBIT of €3.4 billion and cash flow from operation of €2.9 billion, despite the deterioration in scenario across most of our main businesses. We also lowered debt and leverage well ahead of our original plan. I will speak in more
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