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Energy Utilities Market Talk: Eni, Endesa, Viva Energy Updates

Wall Street Journal Markets •
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Eni posted a 12% beat to net income consensus in Q2, with oil and gas production 3% above estimates. RBC Capital Markets analyst Biraj Borkhataria noted strength across global gas & LNG, Enilive, and Plenitude divisions, partially offset by higher corporate charges. Shares rose 4.6% to 23.02 euros.

Endesa raised full-year guidance for net ordinary profit to more than 2.4 billion euros, up from 2.3-2.4 billion euros previously. RBC analysts Fernando Garcia and Charlotte Mettyear cited strong integrated-electricity and gas-unit margins, driven by passing on ancillary service costs and higher TTF gas prices. Shares climbed 2%.

Viva Energy entered an earnings upgrade cycle per UBS, with first-half Ebitda 10% above consensus on beats from industrial and convenience divisions. The Australian fuel refiner's pivot to self-serve 24-hour outlets was viewed as prudent. UBS lifted its FY2026 EPS forecast 8% and raised its target price 3.7% to 2.80 Australian dollars. Shares traded up 3.6% at A$2.745.