TotalEnergies Q2 Earnings Call Highlights

2 months ago 25

MarketBeat

Thu, July 23, 2026 astatine 8:06 AM CDT 7 min read

Key Points

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TotalEnergies posted a beardown Q2, with currency travel of $9.8 cardinal and adjusted nett income of $6 billion, helped by higher lipid prices, beardown refining margins, and coagulated show successful refining, marketing, and power.
Middle East struggle disrupted operations, cutting accumulation and LNG output, though upstream maturation inactive exceeded guidance excluding the conflict. Management said volatility astir the Strait of Hormuz remains a large hazard for accumulation and shipping.
Shareholder returns were boosted, arsenic the institution raised its interim dividend 5.9% to €0.90 per stock and accrued buybacks to $1.5 cardinal for some Q2 and the approved Q3 program, portion besides reducing nett debt.

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TotalEnergies (NYSE:TTE) reported sharply higher second-quarter 2026 currency travel and adjusted earnings, arsenic Chairman and CEO Patrick Pouyanné said the institution benefited from elevated lipid prices, beardown refining margins and robust show crossed astir of its integrated businesses contempt operational disruptions tied to renewed struggle successful the Middle East.

On the company's results call, Pouyanné said the operating backdrop remained "extremely volatile," with the Strait of Hormuz becoming an intermittent battleground and creating uncertainty for production, shipping and marketplace pricing. He said information of TotalEnergies' teams remains the company's "utmost priority."

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CFO Jean-Pierre Sbraire said TotalEnergies generated second-quarter currency travel of $9.8 cardinal and adjusted nett income of $6 billion, up astir 15% from the archetypal quarter. Return connected equity was 15.9%, portion instrumentality connected mean superior employed was adjacent to 14%.

Higher Commodity Prices and Refining Margins Lift Results

Sbraire said Brent averaged $104 per tube successful the 2nd quarter, compared with $81 per tube successful the archetypal quarter. The company's mean liquid terms accrued by $18 per barrel, with the interaction partially reduced by wider differentials and a lifting docket weighted toward the extremity of the 4th arsenic crude prices softened successful June.

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European refining margins accrued by $13.50 per tube connected mean during the quarter. Pouyanné said some upstream and downstream lipid businesses performed powerfully astatine the aforesaid time, an result helium described arsenic "not truthful frequent," due to the fact that 1 conception often benefits astatine the disbursal of the other.

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