TotalEnergies Profit Hits Record on High Oil Prices
Higher oil and gas prices and record refining margins lifted adjusted net income 51% from the second quarter, the company said.
- On Thursday, French energy giant TotalEnergies, led by CEO Patrick Pouyanne, reported record third-quarter adjusted net income of $9.1 billion, driven by high hydrocarbon prices and exceptional refining margins.
- Middle East conflict and rising hydrocarbon prices drove exceptional performance, as the Company leveraged its integrated business model to maximize refinery use and secure supply for Europe.
- The downstream division booked a record quarter with adjusted net operating income of $4.1 billion and cash flow of $4.6 billion, up nearly $2 billion from Q2 following a 10% refining throughput increase.
- Shareholders will receive a third interim dividend of €0.90 per share, up 5.9% from 2025, alongside $2.5 billion in share buybacks and a 20% employee share discount.
- European energy majors posted surging profits, with Shell reporting $10.8 billion in adjusted earnings; TotalEnergies' results surpassed average analyst expectations of $8.3 billion, signaling sector-wide strength.
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After an already euphoric beginning of the year, the French giant TotalEnergies posted a record net profit of $8.3 billion for the third quarter thanks to the surge in the price of hydrocarbons,
The profits of the oil group more than doubled in the third quarter. Its refineries, in France in particular, bring it much more than the price cap on the pump. But, from Macronie to RN, to LR, there is no question of taxing its superprofits more.
The oil giant more than doubled its net profit over the year, while pump prices are at the heart of social grunt and political concerns.
In a context of high prices of hydrocarbons and refining margins, the French oil company announced today in a statement that the adjusted net result of the activity sectors has jumped from 65% to 22,883 million dollars.
TotalEnergies reported an increase in net profit in the third quarter, as the main French energy company gained momentum with high energy prices and refining margins. Exclusive material for subscribers. To have full access, access the link of the material and register.
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