News

(RTTNews) - France's TotalEnergies SE (TTE) reported Thursday that its third-quarter net income - TotalEnergies share declined to $2.29 billion from $6.68 billion a year ago.

Adjusted net income -TotalEnergies share was $4.07 billion, compared to last year's $6.45 billion. Adjusted earnings per share were $1.74, compared to prior year's $2.63.

Analysts on average expected the company to report earnings of $1.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

In euro terms, adjusted earnings per share were 1.58 euros, compared to 2.41 euros a year ago.

Adjusted EBITDA declined to $10.05 billion from prior year's $13.06 billion.

Revenues from sales dropped to $47.43 billion from $54.41 billion last year. Sales were down to $52.02 billion from $59.02 billion in the prior year.

Hydrocarbon production was 2,409 thousand barrels of oil equivalent per day in the third quarter 2024, up 1 percent year-on-year, excluding Canada.

Looking ahead to the fourth quarter, TotalEnergies anticipates that its average LNG selling price should be around $10/Mbtu.

Hydrocarbon production for the quarter is expected to be between 2.4 and 2.45 Mboe/d, benefiting from the end of security-related disruptions in Libya and the start-up of the Mero-3 project in Brazil.

The company confirmed net investments guidance of $17 billion to $18 billion in 2024.

Further, the Board of Directors decided the distribution of the third interim dividend of 0.79 euro per share for fiscal year 2024, an increase of close to 7 percent compared to 2023.

The Board also authorized the company to execute share buybacks of $2 billion in the fourth quarter of 2024, in line with the objective of reaching $8billion throughout the year.

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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.