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Snam (OTC:SNMRY) Stock, Option Chain

SNAM SPA ADR

Snam operates a network of about 38,000 kilometers of natural gas pipelines in Italy and abroad. It also holds 17.1% of European gas storage capacity and 13.5 billion cubic meters of LNG regasification capacity. Snam is investing in hydrogen, biofuels, carbon capture and storage, and energy efficiencies to prepare for the energy transition. Snam became independent from Eni in 2012 after the latter sold its stake to Cassa Depositi e Prestiti, a financial institution controlled by the Ministry of Economy and Finance.

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ENI begin CO2 injection for Italy&#39;s first industrial CCS project with Snam SPA.

Eni Launches CO2 Capture Project In Italy: Details

News

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Baker Hughes chosen to supply three state-of-the-art turbocompressors with hydrogen-ready technology to Snam SPA, reducing carbon emissions in Italian gas infrastructure.

Baker Hughes And Snam Collaborate On Hydrogen-Ready Pipeline

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	Four international groups are contending to purchase Exxon Mobil Corp&#39;s (NYSE: XOM) majority stake in a liquefied natural gas (LNG) terminal offshore Italy.


Exxon LNG Terminal In Italy Attracts Bid From BlackRock And Three Others, Transaction Could Be Worth $881M

Snam SpA

ENI S.p.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/E#NYSE">E</a>) shares are trading lower Tuesday. The company, through its Joint Venture with&nbsp;Snam SPA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SNMRY#OTC">SNMRY</a>), began CO2 injection activities for Phase 1 of the Ravenna CCS project.
This initiative, aimed at industrial decarbonization, marks Italy&#8217;s first project dedicated solely to capturing, transporting, and permanently storing <a target="_blank" href="https://www.eni.com/en-IT/media/press-release/2024/09/eni-snam-launch-ravenna-css-italy-s-first-carbon-capture-storage-project.html" rel="noreferrer noopener">CO2</a> for environmental purposes.
As per the company&#8217;s statement, Ravenna CCS stands out as the world&#8217;s first industrial-scale project to achieve such high levels of carbon capture efficiency.
Phase 1 of the project involves capturing around 25,000 tonnes of CO2 annually from Eni&#8217;s natural gas treatment plant in Casalborsetti, Ravenna.
The captured CO2 will be transported via reconverted gas pipelines to the offshore Porto Corsini Mare Ovest platform, where it will be injected and stored at a depth of 3,000 meters in the depleted gas field.
The project has already achieved a reduction of over 90% in CO₂ emissions from the Casalborsetti plant, with peaks reaching 96%.
In the coming years, Phase 2 of the project aims to store up to 4 million tonnes of CO2 annually by 2030, aligning with Italy&#8217;s Integrated National Energy and Climate Plan (PNIEC).
Claudio Descalzi, CEO of Eni, said, &#8220;The capture and storage of CO2&nbsp;is an effective, safe – and now available &#8211; means to reduce emissions from energy-intensive industries whose activities cannot be electrified. We are using our depleted fields, existing infrastructure, and technical expertise in reinjection techniques to offer a very competitive service, which is receiving tremendous interest.&#8221;
&#8220;We are tackling the complexity of the energy transition with real substance and determination, increasing and enhancing the solutions available to us to decarbonise our activities as well as various areas of economic and industrial systems.&#8221;
In July, Eni reported second-quarter FY24 pro forma adjusted EBIT of €4.1 billion, with <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39986032/enis-q2-profit-declines-but-beats-expectations-shares-rise-on-strong-production" rel="noreferrer noopener">hydrocarbon production rising 6% Y/Y</a>.
Price Action: E shares are down 2.89% at $31.63 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Baker Hughes&nbsp;Company&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) has been selected by&nbsp;Snam SPA&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SNMRY#OTC">SNMRY</a>), a premier energy infrastructure entity in Europe, to supply three state-of-the-<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38066551/baker-hughes-to-supply-snam-with-hydrogen-ready-technology-to-support-decarbonization-and-resilien" rel="noreferrer noopener">art turbocompressors equipped with NovaLT&#x2122;12 gas turbines.</a>
The contract was awarded to Baker Hughes following a public tender. The terms were not disclosed.
The collaboration underscores a significant step towards reducing carbon emissions within the Italian gas infrastructure. It is part of the broader Adriatic Line pipeline project, designed to enhance energy supply routes from various regions to northern Europe.
NovaLT is notable for its capability to blend up to 10% hydrogen with natural gas, marking a significant advancement in decarbonizing Italy&#8217;s gas network.&nbsp;
The initiative involves integrating these turbines into a new compressor station in Sulmona, Italy, contributing to the Adriatic Line pipeline. This pipeline, extending 425 km and designed to be hydrogen-ready, is part of Italy&#8217;s National Recovery and Resilience Plan and the REpowerEU Plan, highlighting its eligibility for financing due to its potential environmental benefits.&nbsp;
This collaboration follows a series of successful ventures, including testing a &#8220;hybrid&#8221; hydrogen turbine in 2020 and installing a NovaLT&#x2122;12 turbine in Italy in 2022.&nbsp;
Price Action:&nbsp;BKR shares traded higher by 1.06% at $33.94 on the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

<ul>
<li>Four international groups are contending to purchase&nbsp;Exxon Mobil Corp&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>) majority stake in a liquefied natural gas (LNG) terminal offshore Italy.</li>
<li>BlackRock, Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>),&nbsp;Igneo Infrastructure Partners, German asset manager&nbsp;IKAV, and energy infrastructure group&nbsp;VTTI, linked to commodity trader Vitol and Australian infrastructure fund&nbsp;IFM, have been short-listed to buy the majority stake in the terminal, Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/four-bidders-vie-stake-exxon-lng-terminal-italy-sources-2023-05-26/#:~:text=BlackRock%20(BLK.N)%2C,one%20of%20the%20sources%20said." style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">cites</a>&nbsp;familiar sources.</li>
<li>The deal could value the entire LNG terminal at nearly &euro;800 million ($881 million).</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/05/32269446/whats-going-on-with-exxon-mobil-shares-today" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">What&#39;s Going On With Exxon Mobil Shares Today</a></li>
<li>In March, Exxon started weighing the sale of its majority stake in Adriatic LNG, Italy&#39;s main regasification terminal, in a bid to divest non-core assets.</li>
<li>Exxon&#39;s sale has attracted interest from several infrastructure funds and international groups as they expected Italy to increase its LNG imports to partly replace the gas it used to get via pipeline from Russia.</li>
<li>Exxon&#39;s subsidiary&nbsp;ExxonMobil Italiana Gas&nbsp;has a 70.7% stake in the terminal, with&nbsp;QatarEnergy&nbsp;subsidiary&nbsp;Qatar Terminal Company Limited&nbsp;at 22% and&nbsp;Italian gas grid operator&nbsp;Snam S.P.A (OTC: <a class="ticker" href="https://www.benzinga.com/stock/snmry#OTC">SNMRY</a>) at 7.3%.</li>
<li>Price Action:&nbsp;XOM shares traded lower by 0.50% at $105.13 on the last check Friday.</li>
<li>Photo via Wikimedia Commons</li>
</ul>

KKR &amp; Co Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kkr#NYSE">KKR</a>) has offered to acquire&nbsp;Telecom Italia SpA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tiiay#OTC">TIIAY</a>) for &euro;10.8 billion ($12 billion), including &euro;29 billion in gross debt,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/telecom-italia-board-meet-sunday-kkrs-takeover-proposal-sources-2021-11-21/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters reports</a>. The purchase price of &euro;0.505 implies a 45.7% premium to Telecom Italia&#39;s November 19 closing price.&nbsp;
<ul>
<li>KKR aims to carve out Telecom Italia&#39;s fixed network to run as a government-regulated asset along the model used by energy grid company&nbsp;Terna Energy SA&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/treay#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TREAY</a>) or gas grid firm&nbsp;Snam SpA&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/snmry#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SNMRY</a>).</li>
<li>Italy&#39;s biggest phone group came under fire from top investor&nbsp;Vivendi SE&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/vivef#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VIVEF</a>) following two profit warnings in three months, charging CEO Luigi Gubitosi.</li>
<li>Telecom Italia&#39;s revenue has shrunk by a fifth over the past five years, hit by aggressive competition from rivals like&nbsp;Iliad SA&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/iliay#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ILIAY</a>),&nbsp;Vodafone Group PLC&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/vod#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VOD</a>), Wind Tre, and Fastweb.</li>
<li>Gubitosi is exploring options to squeeze money out of Telecom Italia&#39;s assets, particularly planning to merge its fixed-line grid with fiber optic rival Open Fiber.</li>
<li>Telecom Italia observed that KKR had termed its action as &quot;friendly&quot; and aimed to win the company&#39;s backing and the government.</li>
<li>Price Action:&nbsp;TIIAY shares traded higher by 3030.1010% at $5 in the market session on the last check Monday.</li>
</ul>

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KKR Offers To Takeover Telecom Italia At 46% Premium

Snam SpA (OTC: <a class="ticker" href="/stock/snmry#OTC">SNMRY</a>) reported a 14% drop in its second-quarter net profit.

Snam's quarterly net profit declined to 234 million euros ($287.8 million), versus EUR271 million, in the year-ago period. Its revenue climbed to EUR894 million, from EUR864 million. 

Snam's earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 4.8% to EUR650 million. However, analysts were expecting a net profit of EUR225.9 million on revenue of EUR856.4 million.

Snam shares closed at $8.06 yesterday.

Earnings

Snam Q2 Net Profit Down 14%

Snam SpA (OTC: <a class="ticker" href="/stock/snmry#OTC">SNMRY</a>) posted a 10% drop in its first-quarter net profit.

Snam's quarterly net profit declined to EUR274 million, versus EUR305 million, in the year-ago quarter. Its revenue climbed 7.9% to EUR969 million, from EUR898 million. 

Snam's earnings before interest, taxes, depreciation and amortization (EBITDA) surged 4.1% to EUR708 million. 

Analysts were expecting a net profit of EUR264.3 million, revenue of EUR901.2 million and EBITDA of EUR700.7 million.

Snam shares closed at $8.94 yesterday.

Snam Q1 Net Declines 10%

Goodyear Tire &amp; Rubber Co (NYSE: <a class="ticker" href="/stock/gt#NYSE">GT</a>) swung to a profit in the fourth quarter. Goodyear posted its quarterly earnings at $18 million, or $0.07 per share, versus a year-ago net loss of $177 million, or $0.73 per share. Its net sales rose to $5.68 billion, from $5.07 billion. However, analysts were expecting earnings of $0.20 per share on sales of $5.86 billion.

Omnicom Group Inc (NYSE: <a class="ticker" href="/stock/omc#NYSE">OMC</a>) reported a 10% rise in its fourth-quarter profit. Omnicom's quarterly profit climbed to $271.9 million, or $0.96 per share, from $246.5 million, or $0.83 per share, in the year-earlier period. Its revenue surged 7.4% to $3.85 billion. However, analysts were expecting earnings of $0.95 per share and revenue of $3.80 million.

Fossil Inc (NASDAQ: <a class="ticker" href="/stock/fosl#NASDAQ">FOSL</a>) posted better-than-expected fourth-quarter profit, but issued downbeat earnings forecast for the first quarter. Fossil projects Q1 earnings of $0.90 to $0.92 per share, versus analysts' estimates of $0.98 per share. Fossil's quarterly earnings climbed to $117.9 million, or $1.87 per share, from $96.7 million, or $1.46 per share, in the year-earlier period. The company's revenue climbed 18.5% to $830.8 million. Analysts were expecting earnings of $1.77 per share on revenue of $841.1 million.

Marsh &amp; McLennan Companies Inc (NYSE: <a class="ticker" href="/stock/mmc#NYSE">MMC</a>) reporetd a rise in its fourth-quarter profit. Marsh &amp; McLennan's quarterly profit surged to $256 million, or $0.46 per share, from $203 million, or $0.37 per share, in the year-earlier period. The company's adjusted profit came in at $0.46 per share. Its revenue climbed 4% to $2.9 billion. Analysts were expecting a profit of $0.46 per share on revenue of $2.94 billion.

Hospira Inc (YSE: HSP) swung to a loss in the fourth quarter. Hospira expects fiscal year profit of $2 to $2.30 per share, versus analysts' estimates of $2.42 per share. Hospira posted a quarterly loss of $214 million, or $1.30 per share, versus a year-ago profit of $60.6 million, or $0.36 per share. Excluding one-time items, Hospira earned $0.51 per share, versus analysts' estimates of $0.45 per share. Hospira's net sales climbed 2.2% to $1.01 billion, versus analysts' estimates of $953 million.

Zebra Technologies Corp (NASDAQ: <a class="ticker" href="/stock/zbra#NASDAQ">ZBRA</a>) reported a 24% rise in its fourth-quarter net income. Zebra Technologies' quarterly earnings climbed to $35 million, or $0.67 per share, up from $28.2 million, or $0.50 per share, in the year-ago period. Its shares outstanding fell 7.7% to 52.4 million. Zebra Technologies' sales surged to $247.3 million from $234 million. However, analysts were expecting earnings of $0.62 per share on revenue of $251.4 million. 

On Assignment Inc (NASDAQ: <a class="ticker" href="/stock/asgn#NASDAQ">ASGN</a>) posted upbeat fourth-quarter results and expects a strong first quarter. On Assignment projects a Q1 profit of $0.14 to $0.17 per share, on revenue of $162 million to $165 million. However, analysts were expecting earnings of $0.12 per share on revenue of $154.3 million. On Assignment posted its quarterly net income at $7.5 million, or $0.20 per share, versus a year-ago loss of $13.7 million, or $0.38 per share. Its revenue came in at $161.8 million. However, analysts were estimating a profit of $0.16 per share, on revenue of $158.1 million.

Alvarion Ltd (NASDAQ: <a class="ticker" href="/stock/alvr#NASDAQ">ALVR</a>) reported a narrower fourth-quarter net loss. Alvarion posted a quarterly loss, excluding one-time items, of $0.04 per share, versus a year-ago loss of $0.18 per share. Alvarion earlier expected a loss of $0.03 to $0.04 per share. Alvarion's revenue dropped 19% to $41.2 million. Its quarterly shipments climbed 3% versus the third quarter.

Asbury Automotive Group Inc (NYSE: <a class="ticker" href="/stock/abg#NYSE">ABG</a>) posted upbeat fourth-quarter results. Asbury Automotive's quarterly earnings rose to $21.5 million, or $0.68 per share, from $5.4 million, or $0.16 per share, in the year-ago period. Excluding items, Asbury Automotive earned $0.54 per share from continuing operations. Asbury Automotive's revenue climbed 8% to $1.1 billion. Its new vehicle revenue gained 6% to $605.6 million. However, used vehicle revenue surged 21% to $305.2 million. Analysts were expecting earnings of $0.43 per share on revenue of $1.09 billion.

LCA-Vision Inc (NASDAQ: <a class="ticker" href="/stock/lcav#NASDAQ">LCAV</a>) reported a narrower-than-expected fourth-quarter loss. LCA-Vision posted a quarterly net loss of $1.7 million, or $0.09 per share, versus a year-ago net loss of $7.3 million, or $0.39 per share. Its revenue climbed 27% to $24.5 million. Analysts were projecting a loss of $0.14 per share on revenue of $24.4 million.

Watson Pharmaceuticals Inc (NYSE: <a class="ticker" href="/stock/wpi#NYSE">WPI</a>) posted a rise in its fourth-quarter net profit and lifted its 2012 earnings outlook. Watson Pharmaceuticals' quarterly net income climbed to $94.8 million, or $0.75 per share, versus $18.3 million, or $0.15 per share, in the year-ago period. Excluding items, Watson Pharmaceuticals earned $1.77 per share, versus analysts' estimates of $1.76 per share.

ACI Worldwide Inc (NASDAQ: <a class="ticker" href="/stock/aciw#NASDAQ">ACIW</a>) posted a better-than-expected quarterly profit. ACI Worldwide's fourth-quarter net income dropped to $23.9 million, or $0.70 per share, from $27.1 million, or $0.80 per share, in the year-ago period. Its revenue fell 4% to $135 million. However, analysts were expecting a profit of $0.69 per share on revenue of $129.5 million.

Michael Kors Holdings Ltd (NYSE: <a class="ticker" href="/stock/kors#NYSE">KORS</a>) posted a rise in its third-quarter profit. Michael Kors' quarterly profit climbed to $39 million, or $0.20 per share, from $27.8 million, or $0.16 per share, in the year-ago period. Michael Kors' revenue surged 68% to $373.6 million.

Insperity Inc (NYSE: <a class="ticker" href="/stock/nsp#NYSE">NSP</a>) posted an upbeat fourth-quarter profit. Insperity's quarterly net income surged to $10.8 million, or $0.42 per share, from $7.8 million, or $0.30 per share, in the year-ago period. However, analysts were projecting earnings of $0.36 per share. Insperity's revenue climbed around 14% to $495.1 million, versus analysts' expectations of $499.6 million.

Swedbank AB (OTC: <a class="ticker" href="/stock/swdbf#OTC">SWDBF</a>) reported a decline in its fourth-quarter net profit, but proposed a rise in dividend for 2011. Swedbank's quarterly net profit dropped to SEK965 million, from SEK2.75 billion in the year-ago period. However, analysts were expecting a net profit of SEK1.17 billion. Its net interest income climbed to SEK4.99 billion from SEK4.53 billion, versus analysts' estimates of SEK4.86 billion. 

Bank Of East Asia Ltd (OTC: <a class="ticker" href="/stock/bkeay#OTC">BKEAY</a>) posted a 3.2% rise in its 2011 net profit. Bank Of East Asia's net profit for the period surged to HK$4.36 billion (US$565 million), up from HK$4.22 billion, in the year-ago period. However, analysts were expecting a net profit of HK$4.44 billion. 

ThyssenKrupp AG (OTC: <a class="ticker" href="/stock/tyekf#OTC">TYEKF</a>) posted a wider-than-expected fiscal first-quarter loss. ThyssenKrupp posted a quarterly loss of EUR288 million ($379.9 million) at its Steel Americas business. ThyssenKrupp's after-tax loss came in at EUR480 million, versus a year-ago profit of EUR101 million. ThyssenKrupp's adjusted earnings before interest and taxes from continued operations dipped to EUR83 million from EUR261 million, versus analysts' estimates of EUR140 million. ThyssenKrupp's quarterly revenue from continued operations dropped to EUR9.9 billion, from EUR10.02 billion. However, analysts were expecting revenue of EUR9.94 billion.

InterContinental Hotels Group PLC (NYSE: <a class="ticker" href="/stock/ihg#NYSE">IHG</a>) posted a rise in profit. InterContinental Hotels' net profit in the year to end-December surged 57% to $460 million, versus $293 million, in the previous year. Its revenue gained 9% to $1.77 billion from $1.63 billion. InterContinental Hotels' operating profit climbed 26% to $559 million from $444 million, versus analysts' estimates of $515 million to $556 million. 

L'Oreal SA posted an increase in its full-year net profit. L'Oreal's net profit for the period climbed 8.9% to EUR2.44 billion, from EUR2.24 billion in the year-ago period, versus analysts' estimates of EUR2.52 billion. L'Oreal's operating profit rose 10% to EUR3.29 billion.

Snam SpA (OTC: <a class="ticker" href="/stock/snmry#OTC">SNMRY</a>) posted a 29% drop in its preliminary 2011 net profit and lifted its dividend by 4.3%. Snam's net profit for the period dropped to EUR790 million, versus EUR1.11 billion in 2010. Excluding one-time items, Snam's net profit came in at EUR978 million. Snam's revenue climbed 2.8% to EUR3.61 billion. Its earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 2.8% to EUR2.61 billion. Analysts were expecting 2011 net profit of EUR762 million, EBITDA of EUR2.58 billion and revenue of EUR3.59 billion.

Tata Motors Ltd (NYSE: <a class="ticker" href="/stock/ttm#NYSE">TTM</a>) reported a 41% surge in third-quarter consolidated net profit. Tata Motors' quarterly profit surged to INR34.06 billion, versus INR24.24 billion, in the year-ago period. However, analysts were expecting a profit of INR26.15 billion. Its sales surged 44% to INR452.60 billion from INR314.42 billion. 

comScore Inc (NASDAQ: <a class="ticker" href="/stock/scor#NASDAQ">SCOR</a>) posted a wider fourth-quarter net loss. Its new customer revenue fell 12% to $6.7 million. comScore's quarterly net loss widened to $3.3 million, or $0.10 per share, versus a year-ago loss of $500,000, or $0.02 per share. Its revenue surged 22.3% to $62.6 million.

Banco do Brasil SA (OTC: <a class="ticker" href="/stock/bdory#OTC">BDORY</a>) posted a drop in its net income in the fourth quarter. The bank posted its quarterly earnings at 2.972 billion reais ($1.73 billion), down from 4.002 billion reais, in the year-ago period. However, analysts were expecting a quarterly profit of 2.731 billion reais. The bank's net income climbed 1.9% versus the third quarter. Excluding one-time items, Banco do Brasil's quarterly profit dropped to 3.025 billion reais. However, analysts were expecting a recurring profit of 2.731 billion reais.

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Earnings Roundup

Snam SpA (OTC: SNMRY) posted a 29% drop in its preliminary 2011 net profit and lifted its dividend by 4.3%.

Snam's net profit for the period dropped to EUR790 million, versus EUR1.11 billion in 2010. Excluding one-time items, Snam's net profit came in at EUR978 million. 

Snam's revenue climbed 2.8% to EUR3.61 billion. Its earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 2.8% to EUR2.61 billion. 

Analysts were expecting 2011 net profit of EUR762 million, EBITDA of EUR2.58 billion and revenue of EUR3.59 billion.

Snam shares closed at $9.33 yesterday.

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