TotalEnergies SE TTE reported first-quarter 2026 operating earnings of $2.45 (€2.10) per share, which surpassed the Zacks Consensus Estimate of $1.99 by 23.1%. The bottom line improved 34% from the year-ago figure of $1.83 (€1.74).
TTE’s Total Revenues
Total revenues for the first quarter were $49.51 billion, which increased from the year-ago reported figure of $47.9 billion by 3.36%. The metric beat the Zacks Consensus Estimate of $46.85 billion by 5.9%.
TotalEnergies SE Sponsored ADR Price, Consensus and EPS Surprise
TotalEnergies SE Sponsored ADR price-consensus-eps-surprise-chart | TotalEnergies SE Sponsored ADR Quote
TTE’s Q1 Production Details
In the first quarter, hydrocarbon production averaged 2,553 thousand barrels of oil equivalent per day, down 0.2% year over year. This year-over-year decrease was due to a natural decline in fields and the impact of ongoing conflict in the Middle East. The headwinds were offset by contributions from start-ups and the higher availability of production facilities.
In the reported quarter, liquid production averaged 1,481 thousand barrels per day, down nearly 2% year over year.
Quarterly gas production was 5,799 thousand cubic feet per day, up 3% year over year.
TTE’s Realized Price
The quarterly realized price for Brent was up 7% to $81.1 per barrel from $75.7 in the year-earlier period. The average realized liquid price was $73.7 per barrel, up 2% year over year.
Realized gas prices were down 15% year over year to $5.59 per thousand British thermal units (Btu).
Realized LNG prices were down 15% year over year to $8.48 per thousand Btu.
Highlights of TTE’s Release
Net power production was 11.7 terawatt hours in the first quarter of 2026, up 3% year over year. Nearly 70% of the power generated came from renewable sources.
Net operating income was $6.3 billion, up 31% year over year due to strong contributions from the segments.
Interest expenses were $791 million, up 9% from the prior-year period.
TotalEnergies acquired assets worth $392 million and sold assets worth $564 million.
The company repurchased 9.4 million shares worth $0.75 billion in the first quarter.
TTE’s Segmental Details
Exploration & Production’s operating earnings were $2.6 billion, up 5% from $2.5 billion in the year-ago period.
Integrated LNG’s operating income was $1.31 billion, up 2% from $1.3 billion in the year-earlier quarter.
Integrated Power’s operating income was $545 million, up 8% from $506 million in the year-ago quarter.
Refining & Chemicals’ operating income of $1.6 billion increased 431.2% from $0.3 billion in the prior-year quarter.
Marketing & Services’ operating income of $262 million improved 9% from $240 million in the first quarter of 2025.
TTE’s Financial Update
Cash and cash equivalents as of March 31, 2026, were $25.69 billion compared with $26.2 billion as of Dec. 31, 2025. Gearing, including leases, was 20.1% at the end of the first quarter of 2026 compared with 19.7% at the end of fourth-quarter 2025.
Cash flow from operating activities in first-quarter 2026 was $3.36 billion, up 31.1% year over year.
TTE’s Guidance
Excluding the impact of the conflict in the Middle East, the production of the second quarter is expected to grow around 4% compared with the second quarter of 2025.
TTE anticipates investing $15 billion in 2026, including sizeable investments for low-carbon energies.
TTE’s Zacks Rank
TotalEnergies currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Upcoming Releases
Devon Energy Corporation DVN is slated to report first-quarter results on May 5, after market close. The Zacks Consensus Estimate for earnings is pegged at 97 cents per share, which indicates a year-over-year decline of 19.83%. Long-term (three to five years) earnings growth of DVN is currently pegged at 11.57%.
Occidental Petroleum Corporation OXY is slated to report first-quarter results on May 5, after market close. The Zacks Consensus Estimate for earnings is pegged at 62 cents per share, which indicates a year-over-year decline of 28.74%. Occidental’s earnings surpassed estimates in each of the trailing four quarters, resulting in an average surprise of 38.74%.
Murphy Oil Corporation MUR is slated to report first-quarter results on May 6, after market close. The Zacks Consensus Estimate for earnings is pegged at 21 cents per share, which indicates a year-over-year decline of 62.5%. Murphy Oil’s earnings surpassed estimates in each of the trailing four quarters, resulting in an average surprise of 119.1%.
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Devon Energy Corporation (DVN): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).