TotalEnergies SE

TTE

Equity

ISIN US89151E1091 / Valor 524795

CTA NASDAQ OMX Stock Exchange (2024-12-24)

USD 54.38+0.30%

TotalEnergies SE
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About company

TotalEnergies SE is a diversified energy company engaged in the exploration, production, and marketing of various energy forms, including oil, biofuels, natural gas, green gases, renewables, and electricity. With a workforce exceeding 100,000 employees, the company operates in more than 130 countries, aiming to provide energy solutions that are affordable, clean, reliable, and widely accessible. Originally founded in 1924 as Compagnie française des pétroles to secure France's energy independence, TotalEnergies has grown into a significant player in the global energy sector. The company's activities span from upstream oil and gas exploration and production to downstream marketing and distribution, alongside significant investments in renewable energy sources and electricity generation, reflecting its commitment to addressing the energy challenges of the 21st century.

Summarized from source with an LLMView SourceSector: Energy

Adjusted Net Income

TotalEnergies SE reported an adjusted net income of $4.1 billion for the third quarter of 2024, reflecting a 13% decrease compared to the second quarter of 2024. For the first nine months of the year, the adjusted net income was $13.9 billion, marking a 23% decline from the same period in 2023. This performance underscores the company's resilience amidst a volatile oil market.

Cash Flow from Operations

In the third quarter of 2024, TotalEnergies SE generated a cash flow from operations, excluding working capital, of $6.8 billion, which is a 12% decrease from the previous quarter. For the first nine months of 2024, the cash flow from operations stood at $22.8 billion, down 17% compared to the same period in the previous year. This decline is attributed to the challenging market conditions.

Net Income

TotalEnergies SE's net income for the third quarter of 2024 was $2.3 billion, representing a significant 39% drop from the second quarter of 2024. Over the first nine months of the year, the net income was $11.8 billion, a 28% decrease from the same period in 2023. The decrease in net income reflects the impact of lower refining margins and market volatility.

Dividends and Share Buybacks

The Board of Directors of TotalEnergies SE approved a third interim dividend of 0.79 euros per share for the fiscal year 2024, which is an increase of nearly 7% compared to 2023. Additionally, the company authorized share buybacks of $2 billion in the fourth quarter of 2024, aligning with its objective of reaching $8 billion in buybacks throughout the year.

Production and Projects

During the third quarter of 2024, TotalEnergies SE commenced production from the high-margin Anchor oil project in the US and the Fenix gas project in Argentina. The company also launched the GranMorgu project in Suriname, supporting its production growth target of 3% per year through 2030. These projects are part of TotalEnergies' strategy to enhance its production capabilities and future cash flows.

Summarized from source with an LLMView Source

Key figures

-20.5%1Y

6.48%3Y

-0.75%5Y

Performance

20.1%1Y

26.6%3Y

35.5%5Y

Volatility