TotalEnergies SE

TTE

Equity

ISIN FR0000120271 / Valor 524773

Euronext - Euronext Paris (2026-06-26)

EUR 68.36-1.31%

TotalEnergies SE
UMushroom community rating:

4.09 5 votes No rating yet

NegativeNeutralPositive

About company

TotalEnergies SE, originally founded in 1924 as Compagnie française des pétroles, is a global energy company with a history of evolving to meet the changing needs of the energy sector. Initially established to secure France's energy independence, the company has expanded its operations beyond oil production, which began in Iraq in 1927, to include a broad spectrum of energy activities. Over the decades, TotalEnergies has demonstrated a capacity for innovation and adaptation, marked by strategic partnerships with entities like Petrofina, Elf Aquitaine, Saft, Maersk Oil, and Direct Energie. In recent years, the company has embarked on a strategic shift towards becoming a multi-energy company, with a significant focus on developing its electricity and renewables portfolio. This transition is part of its broader ambition to lead in the energy transition towards a net-zero future by 2050. Reflecting this strategic pivot, the company rebranded itself as TotalEnergies in 2021, emphasizing its commitment to a diverse energy mix and sustainable development.

Summarized from source with an LLMView SourceSector: Energy

Headline results

Adjusted EBITDA was $12.6 billion; adjusted net income (TotalEnergies share) $5.394 billion; IFRS net income $5.810 billion; cash flow from operations excluding working capital (CFFO) $8.576 billion.

Earnings per share & capital returns

Adjusted diluted EPS was $2.45 for 1Q26. The company repurchased 9.4 million shares ($0.75 billion) in the quarter, the Board authorized up to $1.5 billion of buybacks for Q2, and raised the first interim dividend by 5.9% to €0.90 per share.

Production and Middle East impact

Total Oil & Gas production averaged 2.553 Mboe/d in 1Q26. Management said organic project start-ups drove ~4% growth year‑on‑year but the Middle East conflict reduced output (about 100 kboe/d on average during the quarter; ~360 kb/d shutdowns in April, ~15% of production vs. pre‑conflict levels).

Exploration & Production

E&P adjusted net operating income was $2.576 billion and CFFO $4.564 billion, reflecting higher liquids prices and contributions from new projects (e.g., Lapa SW, Mabruk, Mero ramps).

Integrated LNG

Integrated LNG reported adjusted net operating income of $1.318 billion and CFFO of $1.785 billion, driven by +12% LNG production and active trading; Mozambique LNG construction resumed and offtake agreements progressed.

Integrated Power & renewables

Integrated Power delivered $0.545 billion adjusted NOI and cash flow improvement prospects after the EPH transaction; renewables capacity reached 35.6 GW (≈8 GW added in last 12 months) and the segment targets positive free cash flow by 2027.

Downstream (Refining & Chemicals, Marketing)

Refining & Chemicals adjusted NOI was $1.599 billion with refinery utilization ~92% in 1Q26, capturing strong March margins; overall Downstream adjusted NOI totaled $1.861 billion and CFFO $2.136 billion.

Balance sheet & returns

Gearing stood at 15.5% at quarter‑end. Return on equity was 14.4% for the quarter; net cash flow was $4.098 billion and net investments totaled $4.478 billion in 1Q26.

Outlook & guidance

Management expects Q2 LNG selling price around $10/Mbtu (pricing lag considered), Q2 production ex‑conflict to grow ~4% YoY, refinery utilization 80–85% in Q2, and confirms full‑year net investments guidance of $15 billion while evaluating accelerated short‑cycle investments to capture the current price environment.

Summarized from source with an LLMView Source

Key figures

30.2%1Y

30.0%3Y

71.2%5Y

Performance

22.3%1Y

21.1%3Y

24.4%5Y

Volatility