TotalEnergies reported third-quarter adjusted net income of 9.1 billion dollars, up 128 per cent from a year earlier. Higher refining margins and stronger liquefied natural gas earnings supported the result. The energy group maintained an interim dividend of 0.90 euros a share and announced further share repurchases. Cash flow also increased.
French energy group TotalEnergies earned adjusted net income of 9.1 billion dollars in the third quarter, up 128 per cent from a year earlier. Reported net income rose 124 per cent to 8.26 billion dollars. The adjusted measure excludes certain non-recurring items, including fair-value changes. Operating cash flow increased 73 per cent to 12.26 billion dollars.[1]
Exploration and production adjusted operating profit increased 50 per cent to 3.16 billion dollars. Brent crude averaged 97 dollars a barrel, compared with 69.1 dollars a year earlier. The liquefied natural gas business more than doubled its adjusted operating profit to 1.9 billion dollars; the company cited stronger selling prices and gas trading.[1]
Downstream operations, including refining, generated adjusted operating profit of 4.07 billion dollars, nearly four times the year-earlier amount. European refining margins quadrupled to 33.2 dollars a barrel. Chief executive Patrick Pouyanné said refinery throughput had risen nearly 10 per cent.[1]
The group maintained its interim dividend at 0.90 euros a share and confirmed share repurchases of 2.5 billion dollars in each of the fourth quarter and the first quarter of 2027.[1], [2]
Its published quarterly results also placed gearing below 10 per cent at the end of September.[2]
