EIPAF - Eni: Definitely Affected By Low Oil Prices But Some Positives In Results
On Friday, April 24, 2020, Italian energy giant Eni S.p.A. (E) announced its first quarter 2020 earnings results. At first glance, these results were quite disappointing as the company posted a year-over-year revenue decline as well as a net loss. Admittedly though, we expected nothing less when we consider what has been happening to energy prices ever since the worldwide coronavirus pandemic broke out. A closer look at the actual earnings report does indeed show that the company has been negatively impacted by the steep decline in energy prices that we have seen