Eni S.p.A. (NYSE:E) shares are trading higher after the company reported Q2 FY24 pro forma adjusted EBIT of €4.1 billion, down 8% Y/Y, in the quarter. Hydrocarbon production rose 6% Y/Y to €1,712 kboe/d, with installed capacity from renewables of 3.1 GW at the end of the period. Production benefitted from a continued ramp-up of the company’s flagship projects in Côte d’Ivoire and Congo Floating LNG, a higher contribution from Libya, and the full integration of Neptune. In Q2 2024, E&P proforma adjusted EBIT was €3.5 billion, up 26% Y/Y, fueled by higher production and efficiency gains. GGP proforma adjusted EBIT stood at €0.33 billion, reflecting ongoing optimization of the gas and LNG portfolio. Adjusted net profit stood at €1.5 billion, down 21% Y/Y, in the quarter but above an analyst consensus of €1.42 billion (as per Reuters). Cash flow from operations before changes in ...