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
India's manufacturing sector growth slowed moderately in September but the overall growth remained robust, survey data published by S&P Global showed on Monday. The manufacturing Purchasing Managers' Index fell to 55.1 in September from 56.2 in August. The score was also below economists' forecast... Final manufacturing Purchasing Managers' survey results from the euro area and the UK are the major reports due on Monday. At 2.30 am ET, the Federal Statistical Office is scheduled to issue Swiss consumer price data for September. Inflation is forecast to remain unchanged at 3.5 percent. Stocks fluctuated in morning trading on Friday before once again coming under pressure over the course of the afternoon. The major averages extended the sharp pullback seen on Thursday, ending the session at their lowest closing levels since late 2020.
Follow RTT