TotalEnergies SE (NYSE:TTE) shares are trading lower on Thursday after the company reported third-quarter 2025 earnings that missed street estimates.
Details
The French energy giant posted adjusted earnings of $1.77 per share, missing the $1.81 consensus estimate.
Revenue for the quarter came in at $48.69 billion, also below expectations of $54.93 billion.
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Adjusted net income was $3.98 billion, up 11% from the prior quarter. Adjusted EBITDA totaled $10.3 billion, up 6% quarter-over-quarter (Q/Q).
Cash flow from operations excluding working capital changes stood at $7.1 billion in the quarter.
Segment Performance
- Exploration & Production generated $2.17 billion in adjusted operating income, a 10% sequential decline.
- Integrated LNG earnings fell 18% Q/Q to $852 million, due to the planned turnaround at Ichthys LNG in Australia.
- Integrated Power posted a 1% Q/Q increase in income to $571 million.
- Refining & Chemicals saw income climb 77% Q/Q to $687 million, while Marketing & Services fell 8% Q/Q to $380 million.
Production Update
TotalEnergies reported hydrocarbon production of 2.51 million barrels of oil equivalent per day, broadly flat year-over-year, driven by project ramp-ups in the United States, Argentina and Denmark.
Net Power Production rose 9% sequentially to 12.6 terawatt hours, with gross installed renewable capacity reaching 32.3 gigawatts, a 7% sequential increase.
Share Repurchase & Dividend
The company reaffirmed its commitment to shareholder returns, declaring a third interim dividend of 0.85 euros per share, up 7.6% from the prior year.
It also repurchased $2.3 billion in shares during the quarter.
Outlook
The company noted that oil prices are going down due to higher supply, driven by increased output from non-OPEC producers and OPEC+'s decision to ease voluntary production cuts.
For the fourth quarter of the year, the company expects hydrocarbon production to grow around 4% year-over-year and remain within the 2.525-2.575 Mboe/d range.
TTE expects fourth-quarter average LNG selling prices of $8.5 per million British thermal units.
TotalEnergies reiterated full-year net investment guidance of $17 billion to $17.5 billion. The company expects proceeds from the fourth-quarter disposal to be $2 billion.
Price Action: TTE shares were trading 1.73% lower at $61.15 at the last check on Thursday.
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