TotalEnergies (TTE) Falls Short of Estimates in Q3

TotalEnergies SE (NYSE:TTE) is included among the 11 Best High Yield Energy Stocks to Buy Now.

TotalEnergies SE (NYSE:TTE) is a global integrated energy company that produces and markets energy. The company is currently the third-largest LNG operator in the world, with sales of 40 metric tons in 2024.

TotalEnergies SE (NYSE:TTE) reported its Q3 results on October 30, with the company falling short of estimates in both profits and revenue. That said, the French oil major’s earnings for the quarter remained almost flat from a year earlier, despite oil prices decreasing by around $10 per barrel. Moreover, the company grew its hydrocarbon production by 4% YoY to 2.5 million barrels of oil equivalent per day, leading to a 10% boost in upstream earnings.

Patrick Pouyanné, CEO of TotalEnergies SE (NYSE:TTE), stated:

“The company’s strong financials are underpinned by accretive hydrocarbon production growth of more than 4% year-on-year and improved Downstream results that highlight the company’s profitable growth strategy and integrated model.

Exploration & Production reported adjusted net operating income of $2.2 billion and cash flow of $4 billion in the third quarter, increasing by 10% and 6% quarter-to-quarter, respectively.”

Keeping its commitment to shareholders, TotalEnergies SE (NYSE:TTE) announced the distribution of its third interim dividend of 0.85 €/share for FY2025, up by around 7.6% compared to last year and at the same level as previous interim dividends.

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