Total: Q3 adusted earnings collapse 72%
(CercleFinance.com) - Total has reported Q3 adjusted net income (group share) of 0.
85 billion dollars, down 72% year-on-year, bringing the oil and gas company's adjusted EPS to 29 cents.
Its CEO Patrick Pouyanné pointed out a contrasted environment, with low gas prices and a sharp fall refining margins due to overcapacity in production in light of subdued demand and high inventories.
In this context, the group has once again demonstrated its resilience, thanks to its integrated business model, with cash flow of over four billion dollars and gearing down to 22%.
The share is down 1% in early trading on Friday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
85 billion dollars, down 72% year-on-year, bringing the oil and gas company's adjusted EPS to 29 cents.
Its CEO Patrick Pouyanné pointed out a contrasted environment, with low gas prices and a sharp fall refining margins due to overcapacity in production in light of subdued demand and high inventories.
In this context, the group has once again demonstrated its resilience, thanks to its integrated business model, with cash flow of over four billion dollars and gearing down to 22%.
The share is down 1% in early trading on Friday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.