logo
  

TotalEnergies Q2 Profit Surges, Adj. EPS Tops View; Plans Up To $2 Bln Share Buyback In Q3

French oil and gas company TotalEnergies SE (TTE, TTE.L) reported Thursday that its second-quarter net income (TotalEnergies share) more than doubled to $5.69 billion from last year's $2.21 billion euros.

Adjusted net income (TotalEnergies share) was $9.80 billion, higher than last year's $3.46 billion. Adjusted earnings per share were $3.75, compared to $1.27 a year ago.

On average, four analysts polled by Thomson Reuters expected earnings of $3.21 per share for the quarter. Analysts' estimates typically exclude special items.

In euro terms, adjusted earnings per share were 3.50 euros, compared to 1.06 euros last year.

Adjusted EBITDA was $18.74 billion, up from $8.67 billion last year.

Revenues from sales climbed 69 percent to $70.46 billion from $41.64 billion a year ago.

Further, the Board of Directors approved the distribution of the 2022 second interim dividend in the amount of 0.69 euro/share, up 5 percent year-on-year.

The board also authorized the Company to continue share buybacks of up to $2 billion in the third quarter.

Looking ahead for the third quarter, the company expects production to be stable sequentially.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Vaccine partners Pfizer Inc. and BioNTech SE are seeking emergency use authorization or EUA from the U.S. Food and Drug Administration to offer their bivalent COVID-19 vaccine to children 6 months through 4 years of age. If authorized, the vaccine would be part of a primary series for children in this age group. Kraft Heinz Foods Co. is recalling around 2,400 pounds of ready-to-eat or RTE ham and cheese loaf products citing possible cross-contamination with under-processed products, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. Foxconn, Apple Inc.'s key iPhone assembler, expects that its major plant in China, which is being hit hard by worker unrest following Covid-19 spread and related restrictions, would restart full production around late December to early January, Reuters reported citing a Foxconn source.
RELATED NEWS
Follow RTT