TotalEnergies Says Profit Doubled on Mideast War
Adjusted net income rose to $6 billion, and the company lifted its interim dividend and kept $1.5 billion in quarterly share buybacks.
- The French energy major TotalEnergies reported Thursday that its adjusted net income rose 68% to $6.03 billion compared with a year earlier, driven by geopolitical disruptions.
- Disruptions in the Strait of Hormuz and the conflict between Russia and Ukraine tightened fuel supplies, boosting prices for crude and refined products across global markets.
- Despite an underperformance in its integrated gas unit flagged last week, Total matched analyst estimates as its trading desk helped navigate market upheaval.
- The company's gearing fell to 13.1% at quarter-end, and it will pay a second-quarter interim dividend of $1.03 a share, up 5.9% from a year earlier.
- Looking ahead, Total plans to repurchase as much as $1.5 billion of stock in the third quarter while favoring debt reduction with extra profit.
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TotalEnergies (NYSE:TTE) Announces Quarterly Earnings Results
TotalEnergies (NYSE:TTE - Get Free Report) released its quarterly earnings data on Thursday. The company reported $2.68 earnings per share for the quarter, meeting the consensus estimate of $2.68. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. The company had revenue of $57.10 billion during the quarter, compared to analyst estimates of $55.13 billion.
The group takes advantage of its diversification, according to the CEO, because LNG activity suffers more than anything else. ...
TotalEnergies has reported that it is prioritizing debt reduction, while the conflict in the Middle East continues to favor its results and create an opportunity to strengthen its balance sheet. Exclusive material for subscribers. To have full access, access the link of the subject and register.
French oil and gas giant TotalEnergies announced Thursday that its net profit doubled in the second quarter to $5.4 billion (compared to $2.7 billion a year earlier), boosted by high hydrocarbon prices linked to the conflict in the Middle East. This has reignited the debate on taxing the profits of multinational oil and gas companies.
In the wake of the rise in the price of black gold, the oil company gained 72% in the first half of 2026, and this boosted the debate on the taxation of superprofits.
The French oil group TotalEnergies has doubled its net profit in the second quarter. The company is benefiting from the sharply increased prices of crude oil and refined products due to the war in the Middle East.
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