TotalEnergies: 37% drop in Q3 adjusted net income

(CercleFinance.com) - TotalEnergies has reported adjusted net income of $4.
07bn for Q3 2024, compared with $6.45bn a year earlier, in a bearish oil environment, with refining margins down sharply.

The energy group believes it has shown resilience, primarily driven by Exploration & Production, where adjusted net operating income fell by just 7% to $2.5bn, with upstream production at 2.41 Mboe/d in the quarter.

TotalEnergies also posted adjusted net operating income of $0.6bn in the downstream segment, $1.1bn in the integrated LNG segment and $0.5bn in the integrated power segment.

The Board of Directors approved an interim dividend of E0.79 per share, up nearly 7% on 2023, and authorised share buybacks of $2bn in Q4, to reach $8bn for the full year.


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