TotalEnergies Q4 Profit Falls, But Revenue Climbs

TotalEnergies SE (TTE), a French energy and petroleum firm, on Wednesday reported a decline in earnings for the fourth quarter. However, the firm posted a rise in revenue.

For the quarter, the company posted a net income of $3.441 billion or $1.26 per share, compared with $5.903 billion or $2.17 per share, posted for the same period of last year. Adjusted income stood at $7.771 billion as against $ 6.904 billion of 2021.

Revenue from sales was at $63.953 billion as against $55.298 billion of previous year. The company's sales moved up to $68.582 billion from last year's $60.348 billion.

For the fiscal 2022, the Board has proposed a final dividend of 0.74 euro per share.

For 2023, the company's shareholder return policy will combine a 7.2 percent increase to 0.74 euro per share in interim dividends and share buybacks of $2 billion planned for the first quarter.

In addition, TTE has confirmed its project to spin-off its affiliate, TotalEnergies EP Canada, by listing it on the Toronto stock exchange. TTE intends to retain a 30 percent stake in the listed entity, and to distribute 70 percent of the shares to its shareholders, through a special dividend in kind.

In 2023, TTE expects net investments of $16 billion -$18 billion, including $5 billion dedicated to low-carbon energies.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Parsippany, New Jersey -based Ascend Laboratories LLC. is recalling Dabigatran Etcxilate capsules citing the detection of N-Nitrosodimethylamine or NDMA impurity, a probable human carcinogen, the U.S. Food and Drug Administration said. The product is used as an oral anticoagulant to lower the risk of stroke and blood clots. The US Food and Drug Administration has cleared cultivated chicken developed by GOOD Meat Inc., the cultivated meat division of alternative foods startup Eat Just Inc. This is FDA's second pre-market consultation for a human food made from cultured animal cells after UPSIDE Foods. GOOD Meat is now required to meet Federal requirements including approvals from the US Department of Agriculture. A group of 23 U.S. states attorneys general have asked South Korean car manufacturers Hyundai Motor and Kia Corp. to take action more quickly to solve problems with millions of U.S. vehicles facing theft. The issue is related to the companies' failure to equip vehicles with anti-theft immobilizers, which has been a standard equipment on vehicles sold by other major manufacture
Follow RTT