Refile: France's TotalEnergies Q3 adjusted net income rises on refining, LNG boost

TotalEnergies SE

Thu 07:57

Corrects to remove duplicate word in headline

Overview
France-based energy major's Q3 adjusted net income rose 51% quarter-on-quarter
Q3 hydrocarbon production rose 3% from prior quarter, aided by reduced Middle East disruption
Company authorized $2.5 bln share buybacks for Q4 2026 and Q1 2027

Outlook
Company expects average LNG selling price above $14/Mbtu in 4q26
TotalEnergies expects 4q26 production to grow over 3% year-on-year, excluding Middle East conflict impact
Company expects 4q26 refinery throughput volumes broadly in line with 3q26

Result Drivers
HIGH PRICES AND REFINING MARGINS - Co said historic refining margins and elevated gas prices drove results
PRODUCTION GROWTH - Co attributed higher hydrocarbon output to reduced Middle East disruption and ramp-up of new projects
REFINING THROUGHPUT - Co said increased refining throughput allowed it to benefit from high margins

Company press release: ID:nBw7zFJvma

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted Net Income
 
$9.10 bln
 
Q3 Adjusted EBITDA
 
$17.80 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 8 "hold" and 4 "sell" or "strong sell"
The average consensus recommendation for the integrated oil & gas peer group is "buy"
Wall Street's median 12-month price target for TotalEnergies SE is €87.50, about 4.7% above its October 28 closing price of €83.60
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago

Reuters Recommended Reads
Oct 29 - TotalEnergies third-quarter profit up 127%
Oct 27 - TotalEnergies completes sale of Renaissance joint venture oil stake in Nigeria
Oct 29 - Shell beats expectations with $10.8 billion profit, hikes buybacks

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)