TotalEnergies SE: Third Quarter 2026 Results

By Business Wire | October 29, 2026, 3:45 AM

TotalEnergies is leveraging once again its integrated business model and geographic diversification to post adjusted net income of $9.1 billion and cash flow of $12.3 billion, a sharp increase quarter-to-quarter

Gearing reached below 10% by the end of the third quarter 2026
New capital increase reserved for employees at a 20% discount on the share price
Interim dividend maintained at €0.90/share
$2.5 billion share buybacks in 4^th quarter 2026 and in 1^st quarter 2027

PARIS--(BUSINESS WIRE)--Regulatory News:

TotalEnergies SE (Paris:TTE) (LSE:TTE) (NYSE:TTE):

	3Q26	2Q26	Change vs 2Q26	9M26	Change vs 9M25
Cash flow from operations excluding working capital (CFFO)⁽¹⁾ (B$)	12.3	9.8	+25%	30.6	+48%
Adjusted net income (TotalEnergies share)⁽¹⁾
- in billions of dollars (B$)	9.1	6.0	+51%	20.5	+75%
- in dollars per share (fully-diluted)	4.03	2.68	+51%	9.19	+78%
Net income (TotalEnergies share) (B$)	8.3	5.4	+52%	19.5	+91%
Adjusted EBITDA⁽¹⁾ (B$)	17.8	13.2	+35%	43.5	+43%
Gearing ⁽¹⁾ of 9.1% at September 30, 2026 vs. 13.1% at June 30, 2026

The Board of Directors of TotalEnergies SE, chaired by CEO Patrick Pouyanné, met on October 28, 2026, to approve the 3^rd quarter 2026 financial statements. On the occasion, Patrick Pouyanné said:

“In a high-price environment characterized by historic refining margin levels and a bull gas market, TotalEnergies is once again fully leveraging its integrated business model and its geographic diversification by posting an adjusted net income of $9.1 billion and cash flow of $12.3 billion for the third quarter, a sharp increase quarter-to-quarter.

Oil & Gas production reached 2.474 Mboe/d in the third quarter, up more than 3% quarter-to-quarter, notably benefiting from a lower impact of the Middle East conflict, limited to only around 5% of the Company’s overall production over the quarter on average. Excluding the Middle East impact, production growth exceeds 4% year-on-year, supported by the ramp-up of projects launched since 2025. Furthermore, with the investment decisions taken this quarter for Cronos in Cyprus, Ima in Nigeria, Umm Shaif Gas Cap in the United Arab Emirates and Absheron Ph2 in Azerbaijan, all the projects contributing to achieving the production growth target of more than 3% per year by 2030 are now in execution phase.

Exploration and Production posted adjusted net operating income of $3.2 billion and cash flow of $5.4 billion, reflecting production growth, sensitivity to declining oil prices and rising gas prices quarter-to-quarter. The Company completed its entry into PEL83 license holding the Mopane discovery and took part in three exploration discoveries in Norway (Grimsnes) and in Angola (Block 0 and Block 17 – Violeta 4). TotalEnergies once again demonstrates its leadership to control costs, with operating costs of $4.7/boe, anchored below $5/boe.

The Integrated LNG segment achieved adjusted net operating income of $1.9 billion and cash flow of $1.7 billion in the third quarter of 2026, a very sharp increase quarter-to-quarter, underpinned by a 20% increase in average LNG price and the outperformance of LNG and gas trading activities in a bull market.

Downstream achieved a record quarter with adjusted net operating income of $4.1 billion and cash flow of $4.6 billion, up close to $2 billion compared to the previous quarter. The increase of nearly 10% refining throughput enabled the Company to fully capture historically high refining margins in Europe and worldwide, while oil trading activities outperformed at a level comparable with the two previous quarters. In this context of rising prices, the Company contributes to the security of supply for Europe by maximizing the use of its refineries and participating in diesel imports from the Middle East. TotalEnergies also announced enhanced protective measures for French consumers and economic players to face increasing diesel prices related to the Middle East conflict.

Integrated Power posted adjusted net operating income of $0.6 billion and cash flow of nearly $0.8 billion, benefiting from an increase of more than 20% in net production in the quarter and the expected contribution from TTEP assets over a full quarter.

Net investments amounted to $3.3 billion in the third quarter and $11.2 billion in the first nine months of 2026, in line with the annual guidance of $15 billion. The gearing ratio now stands at 9.1%, an improvement of 4 percentage points compared to the second quarter, benefiting from free cash flow of more than $6 billion after payment of the dividend.

The Board of Directors commended the very good operational performance of all business segments which enabled the Company to capture higher market prices. It authorized a new capital increase reserved for employees, who will benefit from a 20% discount on the share price. In line with the objective to return 40% of cash flow to shareholders, the Board confirmed a third interim dividend of €0.90/share for fiscal year 2026, up 5.9% compared to 2025, and it authorized share buybacks for cancellation of $2.5 billion for the fourth quarter as well as for the first quarter 2027.”

1. Highlights ⁽²⁾

Upstream

Namibia: closing of the transaction with Galp for the acquisition by TotalEnergies of a 40% operated interest in the PEL83 license, holding the Mopane discovery
US: acquisition of a 25% interest in a portfolio of 26 exploration licenses in the US
Angola:
- Fast track start-up of Acacia-5 discovery on Block 17
- Acquisition of a 40% operated interest in two exploration Blocks
Azerbaijan: Final Investment Decision for Absheron Ph2
United Arab Emirates: Final Investment Decision on the Umm Shaif Gas Cap project, targeting over 600 MMscf/d of gas production by 2030 and the monetization of associated condensates
Nigeria: divestment of a 10% non-operated interest in the Renaissance JV to Vaaris
Africa: signature of an agreement with Global Infrastructure Partners (GIP), relating to energy infrastructure assets in Africa, for $1.8 billion
Signature of a 3-year partnership with Mistral for the development of frontier AI models dedicated to exploration and reservoir engineering

Integrated LNG

Papua New Guinea: establishment of a LNG marketing joint venture (JV) with the national oil company Kumul Petroleum for 2.4 Mt/year of LNG and signature of an LNG offtake agreement of 1.5 Mt/year
Cyprus: Final Investment Decision on the Cronos gas field, for production start-up in 2028
Nigeria: Final Investment Decision on the Ima gas field to supply Nigeria LNG plant starting in 2028

Integrated Power

Europe:
- Acquisition of a 4 GW portfolio of onshore renewable assets from Shell
- Sale to KKR of a 50% stake in a 1.2 GW portfolio of developed assets
United States: addition by TotalEnergies of a 700 MW renewables portfolio to the 50/50 JV with KKR

Downstream

France: acquisition of all remaining interests in the Grandpuits chemical plastic recycling plant

2. Key figures from TotalEnergies’ consolidated financial statements ⁽¹⁾

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars, except effective tax rate, earnings per share and number of shares	9M26	9M25	9M26 vs 9M25
17,809	13,179	+35%	10,295	Adjusted EBITDA ⁽¹⁾	43,540	30,489	+43%
9,712	6,871	+41%	4,659	Adjusted net operating income from business segments	22,883	13,841	+65%
3,157	3,231	-2%	2,169	Exploration & Production	8,964	6,594	+36%
1,885	807	x2.3	852	Integrated LNG	4,010	3,187	+26%
602	533	+13%	571	Integrated Power	1,680	1,651	+2%
3,601	1,800	x2	687	Refining & Chemicals	7,000	1,377	x5.1
467	500	-7%	380	Marketing & Services	1,229	1,032	+19%
1,358	1,156	+17%	692	Contribution of equity affiliates to adjusted net income	3,223	2,109	+53%
37.0%	39.3%	-	37.7%	Effective tax rate ⁽³⁾	38.3%	40.2%	-
9,097	6,027	+51%	3,980	Adjusted net income (TotalEnergies share) ⁽¹⁾	20,518	11,750	+75%
4.03	2.68	+51%	1.77	Adjusted fully-diluted earnings per share (dollars) ⁽⁴⁾	9.19	5.17	+78%
3.50	2.31	+52%	1.50	Adjusted fully-diluted earnings per share (euros) ⁽⁵⁾	7.91	4.62	+71%
2,234	2,216	+1%	2,200	Fully-diluted weighted-average shares (millions)	2,202	2,225	-1%

8,263	5,438	+52%	3,683	Net income (TotalEnergies share)	19,511	10,221	+91%

4,789	4,694	+2%	3,473	Organic investments ⁽¹⁾	14,133	12,794	+10%
(1,510)	(1,247)	ns	(381)	Acquisitions net of assets sales ⁽¹⁾	(2,929)	1,851	ns
3,279	3,447	-5%	3,092	Net investments ⁽¹⁾	11,204	14,645	-23%

12,255	9,804	+25%	7,061	Cash flow from operations excluding working capital (CFFO) ⁽¹⁾	30,635	20,671	+48%
12,634	10,188	+24%	7,443	Debt Adjusted Cash Flow (DACF) ⁽¹⁾	31,801	21,663	+47%
15,390	10,858	+42%	8,349	Cash flow from operating activities	29,609	16,872	+75%
Gearing ⁽¹⁾ of 9.1% at September 30, 2026 vs. 13.1% at June 30, 2026 and 17.3% at September 30, 2025

3. Key figures of environment, greenhouse gas emissions and production

3.1 Environment – liquids and gas price realizations, refining margins

3Q26	2Q26	3Q26 vs 2Q26	3Q25		9M26	9M25	9M26 vs 9M25
97.0	103.8	-7%	69.1	Brent ($/b)	93.9	70.9	+32%
2.9	2.9	-2%	3.1	Henry Hub ($/Mbtu)	3.1	3.5	-11%
21.5	15.6	+38%	11.3	TTF ($/Mbtu)	17.0	12.5	+36%
22.8	17.5	+31%	11.7	JKM ($/Mbtu)	18.2	12.7	+44%
87.1	91.6	-5%	66.5	Average price of liquids ^(6),(7) ($/b) Consolidated subsidiaries	83.9	67.9	+23%
7.00	5.55	+26%	5.50	Average price of gas ^(6),(8) ($/Mbtu) Consolidated subsidiaries	6.04	5.92	+2%
12.28	10.20	+20%	8.91	Average price of LNG ^(6),(9) ($/Mbtu) Consolidated subsidiaries and equity affiliates	10.18	9.36	+9%
33.2	13.5	x2.5	8.4	European Refining Margin Marker (ERM) ^(6),(10) ($/b)	19.4	5.7	x3.4

3.2 Greenhouse gas emissions ⁽¹¹⁾

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Scope 1+2 emissions ⁽¹²⁾ (MtCO₂e)	9M26	9M25	9M26 vs 9M25
8.5	7.3	+16%	8.4	Scope 1+2 from operated perimeter ⁽¹⁾	23.6	24.8	-5%
6.9	6.4	+8%	7.1	of which Oil & Gas	20.2	21.4	-6%
1.6	0.9	+78%	1.3	of which CCGT	3.4	3.4	-
11.7	10.2	+15%	11.0	Scope 1+2 - ESRS perimeter ⁽¹⁾	32.3	32.7	-1%

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Methane emissions (ktCH₄)	9M26	9M25	9M26 vs 9M25
4	4	-	5	Methane emissions from operated perimeter ⁽¹⁾	12	17	-29%
Estimated quarterly emissions.

For the first nine months of 2026, Scope 3⁽¹³⁾ Category 11 emissions are estimated at 243 Mt CO₂e.

3.3 Production ⁽¹⁴⁾

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Hydrocarbon production	9M26	9M25	9M26 vs 9M25
2,474	2,395	+3%	2,508	Hydrocarbon production (kboe/d)	2,474	2,523	-2%
1,400	1,298	+8%	1,407	Oil (including bitumen) (kb/d)	1,342	1,369	-2%
1,074	1,097	-2%	1,101	Gas (including condensates and associated NGL) (kboe/d)	1,132	1,154	-2%

2,474	2,395	+3%	2,508	Hydrocarbon production (kboe/d)	2,474	2,523	-2%
1,510	1,410	+7%	1,553	Liquids (kb/d)	1,467	1,525	-4%
5,209	5,330	-2%	5,182	Gas (Mcf/d)	5,444	5,409	+1%

Hydrocarbon production was 2,474 thousand barrels of oil equivalent per day in the third quarter of 2026, up more than 3% compared to the second quarter, benefiting from a gradual return-to-normal oil production in the Middle East.

Hydrocarbon production is down 1% year-on-year primarily due to:

+4% from project start-ups and project ramp-ups, notably Mero-4 and Lapa SW in Brazil, Anchor and Ballymore in the United States, Begonia and Clov Phase 3 in Angola, Mabruk in Libya and Ratawi in Iraq,
+2% due to improved plant availability,
-2% due to the natural decline of fields,
-5% due to the impact of the conflict in the Middle East.

Excluding the impact of the conflict in the Middle East, production would be up by more than 4% year-on-year.

4. Analysis of business segments

4.1 Exploration & Production

4.1.1 Production

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Hydrocarbon production	9M26	9M25	9M26 vs 9M25
1,963	1,845	+6%	2,026	EP (kboe/d)	1,918	1,986	-3%
1,446	1,342	+8%	1,501	Liquids (kb/d)	1,399	1,460	-4%
2,739	2,668	+3%	2,782	Gas (Mcf/d)	2,756	2,799	-2%

4.1.2 Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars, except effective tax rate	9M26	9M25	9M26 vs 9M25
3,157	3,231	-2%	2,169	Adjusted net operating income	8,964	6,594	+36%
263	137	+92%	177	including adjusted income from equity affiliates	539	503	+7%
49.2%	45.4%	-	48.5%	Effective tax rate ⁽¹⁵⁾	48.0%	49.4%	-

2,921	2,231	+31%	1,922	Organic investments⁽¹⁾	7,876	7,659	+3%
(321)	(348)	ns	(53)	Acquisitions net of assets sales ⁽¹⁾	(896)	225	ns
2,600	1,883	+38%	1,869	Net investments⁽¹⁾	6,980	7,884	-11%

5,389	5,777	-7%	3,984	Cash flow from operations excluding working capital (CFFO) ⁽¹⁾	15,730	12,035	+31%
4,905	5,546	-12%	4,187	Cash flow from operating activities	13,420	11,128	+21%

Adjusted net operating income and cash flow from operations excluding working capital (CFFO) were $3,157 million and $5,389 million, respectively, reflecting production growth and sensitivities to declining oil prices and rising gas prices quarter-to-quarter.

4.2 Integrated LNG

4.2.1 Production

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Hydrocarbon production for LNG	9M26	9M25	9M26 vs 9M25
511	550	-7%	482	Integrated LNG (kboe/d)	556	537	+4%
64	68	-6%	52	Liquids (kb/d)	68	65	+6%
2,470	2,662	-7%	2,400	Gas (Mcf/d)	2,688	2,610	+3%

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Liquefied Natural Gas in Mt	9M26	9M25	9M26 vs 9M25
9.8	10.7	-9%	10.4	Overall LNG sales	32.9	31.6	+4%
3.5	3.9	-9%	3.4	incl. Sales from equity production*	11.5	11.2	+2%
9.4	9.8	-4%	9.2	incl. Sales by TotalEnergies from equity production and third party purchases	30.1	28.0	+8%
* The Company’s equity production may be sold by TotalEnergies or by the joint ventures.

Hydrocarbon production for LNG decreased by 7% quarter-to-quarter, mainly due to planned maintenance, notably on Angola LNG and Ichthys LNG.

4.2.2 Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars, except the average price of LNG	9M26	9M25	9M26 vs 9M25
12.28	10.20	+20%	8.91	Average price of LNG ($/Mbtu) * Consolidated subsidiaries and equity affiliates	10.18	9.36	+9%

1,885	807	x2.3	852	Adjusted net operating income	4,010	3,187	+26%
574	705	-19%	423	including adjusted income from equity affiliates	1,710	1,471	+16%

328	908	-64%	330	Organic investments⁽¹⁾	1,646	1,825	-10%
(1,162)	4	ns	(134)	Acquisitions net of assets sales ⁽¹⁾	(1,066)	116	ns
(834)	912	ns	196	Net investments⁽¹⁾	580	1,941	-70%

1,724	833	x2.1	1,134	Cash flow from operations excluding working capital (CFFO) ⁽¹⁾	4,342	3,542	+23%
1,213	2,137	-43%	789	Cash flow from operating activities	2,230	3,071	-27%
* Sales in $ / Sales in volume for consolidated and equity affiliates. Does not include LNG trading activities.

Adjusted net operating income and cash flow from operations excluding working capital (CFFO) for the Integrated LNG segment were $1,885 million and $1,724 million, respectively, underpinned by a 20% increase of average LNG price and the outperformance of LNG and gas trading activities in a bull market, given the ongoing conflict in the Strait of Hormuz and the seasonality of demand.

4.3 Integrated Power

4.3.1 Productions, capacities, clients and sales

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Integrated Power	9M26	9M25	9M26 vs 9M25
17.9	14.8	+21%	12.6	Net power production (TWh) *	44.3	35.5	+25%
9.6	9.6	-	8.2	o/w production from renewables	27.3	23.3	+17%
8.3	5.2	+61%	4.5	o/w production from gas flexible capacities	17.0	12.2	+39%
33.8	33.4	+1%	25.2	Portfolio of power generation net installed capacity (GW) **	33.8	25.2	+34%
21.5	21.1	+2%	18.7	o/w renewables	21.5	18.7	+15%
12.3	12.2	+1%	6.5	o/w gas flexible capacities	12.3	6.5	+88%
105.9	105.8	-	106.0	Portfolio of renewable power generation gross capacity (GW) ,*	105.9	106.0	-
37.9	37.4	+1%	32.3	o/w installed capacity	37.9	32.3	+17%
6.2	6.1	+1%	6.0	Clients power - BtB and BtC (Million) **	6.2	6.0	+3%
2.7	2.7	-1%	2.7	Clients gas - BtB and BtC (Million) **	2.7	2.7	-1%
11.9	11.6	+3%	10.6	Sales power - BtB and BtC (TWh)	38.7	35.6	+9%
10.6	14.5	-27%	11.6	Sales gas - BtB and BtC (TWh)	56.6	62.2	-9%
* Solar, wind, hydroelectric and gas flexible capacities.
** End of period data.
*** Includes 17.25% of Adani Green Energy Ltd’s gross capacity, 50% of Clearway Energy Group’s gross capacity and 49% of Casa dos Ventos’ gross capacity.

Net power production was 44.3 TWh over the first nine months of 2026, up 25% year-on-year and in line with the objective of 60 TWh in 2026. This reflects the growth of the integrated power generation portfolio, notably driven by the commissioning of new renewable capacities and the contribution of TTEP’s assets in line with expectations.

4.3.2 Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
602	533	+13%	571	Adjusted net operating income	1,680	1,651	+2%
142	168	-15%	48	including adjusted income from equity affiliates	362	114	x3.2

1,135	920	+23%	596	Organic investments⁽¹⁾	2,878	1,663	+73%
(25)	(749)	ns	(147)	Acquisitions net of assets sales ⁽¹⁾	(851)	1,658	ns
1,110	171	x6.5	449	Net investments⁽¹⁾	2,027	3,321	-39%

774	721	+7%	611	Cash flow from operations excluding working capital (CFFO) ⁽¹⁾	2,069	1,770	+17%
1,636	(239)	ns	674	Cash flow from operating activities	1,252	1,074	+17%

Integrated Power segment adjusted net operating income and cash flow from operations excluding working capital (CFFO) were $602 million and $774 million, respectively, in the quarter, sustained by the contribution of TTEP over a full quarter. This consists of production activities (including renewables and gas-fired power plants) for around 55%, and marketing activities (including B2B, B2C and trading), for around 45%.

4.4 Downstream (Refining & Chemicals and Marketing & Services)

4.4.1 Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
4,068	2,300	+77%	1,067	Adjusted net operating income	8,229	2,409	x3.4

319	540	-41%	590	Organic investments⁽¹⁾	1,513	1,508	-
(4)	(156)	ns	(45)	Acquisitions net of assets sales ⁽¹⁾	(121)	(147)	ns
315	384	-18%	545	Net investments⁽¹⁾	1,392	1,361	+2%

4,622	2,877	+61%	1,653	Cash flow from operations excluding working capital (CFFO) ⁽¹⁾	9,635	4,253	x2.3
7,912	4,114	+92%	3,126	Cash flow from operating activities	14,658	3,226	x4.5

4.5 Refining & Chemicals

4.5.1 Refinery and petrochemicals throughput and utilization rates

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Refinery throughput and utilization rate	9M26	9M25	9M26 vs 9M25
1,555	1,426	+9%	1,478	Total refinery throughput (kb/d)	1,535	1,538	-
426	354	+21%	481	France	414	460	-10%
688	684	+1%	595	Rest of Europe	683	618	+11%
441	389	+13%	402	Rest of world	438	461	-5%
88%	80%		84%	Utilization rate based on crude only*	86%	87%	-
* Based on distillation capacity at the beginning of the year

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Petrochemicals production and utilization rate	9M26	9M25	9M26 vs 9M25
1,165	1,100	+6%	1,326	Monomers* (kt)	3,448	3,740	-8%
1,152	1,165	-1%	1,174	Polymers (kt)	3,476	3,474	-
75%	71%		84%	Steam cracker utilization rate**	73%	79%	-
* Olefins.
** Based on olefins production from steam crackers and their treatment capacity at the start of the year.

Refinery throughput was up nearly 10% over the quarter, underpinned by all refineries well-functioning in Europe and United States (Port Arthur), and the progressive return of the SATORP refinery in Saudi Arabia to its nominal capacity.

4.5.2 Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars, except ERM	9M26	9M25	9M26 vs 9M25
33.2	13.5	x2.5	8.4	European Refining Margin Marker (ERM) ($/b) *	19.4	5.7	x3.4

3,601	1,800	x2	687	Adjusted net operating income	7,000	1,377	x5.1

150	366	-59%	387	Organic investments⁽¹⁾	1,034	956	+8%
(1)	(1)	ns	(2)	Acquisitions net of assets sales ⁽¹⁾	73	(26)	ns
149	365	-59%	385	Net investments⁽¹⁾	1,107	930	+19%

3,943	2,030	+94%	1,015	Cash flow from operations excluding working capital (CFFO) ⁽¹⁾	7,689	2,420	x3.2
6,290	3,565	+76%	2,839	Cash flow from operating activities	11,419	1,743	x6.6
* This market indicator for European refining, calculated based on public market prices ($/b), uses a basket of crudes, petroleum product yields and variable costs representative of the European refining system of TotalEnergies. Does not include oil trading activities.

Refining and Chemicals adjusted net operating income and cash flow from operations excluding working capital (CFFO) were $3,601 million and $3,943 million, demonstrating the segment’s ability to capture historically high refining margins in Europe and worldwide, while oil trading activities continue to outperform on a level consistent with the previous two quarters.

4.6 Marketing & Services

4.6.1 Petroleum product sales

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Sales in kb/d*	9M26	9M25	9M26 vs 9M25
1,218	1,213	-	1,269	Total Marketing & Services sales	1,221	1,286	-5%
711	732	-3%	744	Europe	719	749	-4%
507	481	+5%	525	Rest of world	502	537	-6%
* Excludes trading and bulk refining sales.

Sales of petroleum products were down 4% compared to the third quarter of 2025, reflecting demand elasticity in a high price environment.

4.6.2 Results

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars	9M26	9M25	9M26 vs 9M25
467	500	-7%	380	Adjusted net operating income	1,229	1,032	+19%

169	174	-3%	203	Organic investments⁽¹⁾	479	552	-13%
(3)	(155)	ns	(43)	Acquisitions net of assets sales ⁽¹⁾	(194)	(121)	ns
166	19	x8.7	160	Net investments⁽¹⁾	285	431	-34%

679	847	-20%	638	Cash flow from operations excluding working capital (CFFO) ⁽¹⁾	1,946	1,833	+6%
1,622	549	x3	287	Cash flow from operating activities	3,239	1,483	x2.2

Marketing & Services segment adjusted net operating income was $467 million in the quarter, up 23% year-on-year, with higher unit margins that more than offset lower volumes.

Cash flow from operations excluding working capital (CFFO) amounted to $679 million in the third quarter of 2026, up 6% year-on-year for the same reasons.

5. TotalEnergies results

5.1 Adjusted net operating income from business segments

Segment adjusted net operating income was $9,712 million in the third quarter of 2026, compared to $6,871 million in the second quarter of 2026, due to increased production, higher refining margins in Europe and worldwide, higher gas prices and significant performance of LNG and gas trading activities.

5.2 Adjusted net income ⁽¹⁾ (TotalEnergies share)

Adjusted net income (TotalEnergies share) was $9,097 million in the third quarter of 2026, compared with $6,027 million in the second quarter.

Adjusted net income excludes the after-tax inventory effect, non-recurring items, and effects of changes in fair-value.

Adjusting items to net income totaled ($0.8) billion in the third quarter, consisting mainly of:

$1.5 billion in changes in inventories and fair value effects,
($1.9) billion in impairments, in particular for the offshore wind activity within the Integrated Power segment and for the participation of TotalEnergies in Hanwha TotalEnergies Petrochemical Co.

Contacts

TotalEnergies contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com

Read full story here

Mentioned In This Article

TTE

+1.52%

TotalEnergies SE

Latest News

1 hour	TotalEnergies Q3 adjusted net income jumps 51% on refining margins, gas prices TTE Investing.com
1 hour	TotalEnergies profit hits record on high oil prices TTE AFP
2 hours	TotalEnergies SE UK Regulatory Announcement: 3rd Quarter Results TTE Business Wire
2 hours	TotalEnergies SE: Third Quarter 2026 Results TTE Business Wire
2 hours	TotalEnergies decides the distribution of a third interim dividend of 0.90/share for fiscal year 2026, an increase of 5.9% compared to 2025 TTE Business Wire
2 hours	TotalEnergies SE UK Regulatory Announcement: Dividend Declaration TTE Business Wire
Oct-28	Dune Oil appoints technical advisors for Türkiye M47 well programs TTE Proactive
Oct-28	TotalEnergies takes 25% of 26 Chevron-run offshore U.S. exploration leases TTE Investing.com
Oct-28	TotalEnergies SE UK Regulatory Announcement: United States: TotalEnergies Enters 26 Chevron-Operated Offshore Exploration Blocks, Strengthening the Successful U.S. Partnership Between Both Companies TTE Business Wire
Oct-28	United States: TotalEnergies Enters 26 Chevron-Operated Offshore Exploration Blocks, Strengthening the Successful U.S. Partnership Between Both Companies TTE Business Wire
Oct-27	TotalEnergies SE UK Regulatory Announcement: TotalEnergies Strengthens Value Sharing With Its Employees and the Support of Their Energy Purchasing Power TTE Business Wire
Oct-27	TotalEnergies Strengthens Value Sharing With Its Employees and the Support of Their Energy Purchasing Power TTE Business Wire
Oct-27	Eni begins execution phase of Cronos gas project in Cyprus TTE Offshore Technology
Oct-27	Nigeria: TotalEnergies Completes the Divestment of its Oil Interest in Renaissance JV (formerly SPDC) TTE Business Wire
Oct-27	TotalEnergies SE UK Regulatory Announcement: Nigeria: TotalEnergies Completes the Divestment of its Oil Interest in Renaissance JV (formerly SPDC) TTE Business Wire

TotalEnergies SE: Third Quarter 2026 Results

Mentioned In This Article

Latest News

Upgrade your Finviz experience