TotalEnergies (TTE) Q1 2026 Earnings
How Did TTE Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +6.60%.
Did TTE Beat Earnings? Q1 2026 Results
Yes. TotalEnergies reported Q1 2026 earnings of $2.64 a share on Apr 29, 2026, beating the $2.16 consensus estimate by 22.2%. Revenue was $54.2B against a $46.3B estimate.
TotalEnergies SE closed out full-year 2025 under clear pressure from a weaker oil price environment, reporting adjusted net income of $15.59 billion, down 15% year-over-year, as Brent crude averaged $69.10 per barrel, a 14% decline from 2024 levels. Adjusted fully-diluted earnings per share fell to $6.89 from $7.77, while IFRS net income slipped 17% to $13.13 billion. The primary drag came from the company's Exploration and Production segment, which posted adjusted net operating income of $8.40 billion, down 16%, though a 4% increase in hydrocarbon production to 2,529 kboe/d provided partial relief. Bright spots included Refining and Chemicals, where improved margins lifted adjusted net operating income 10% to $2.38 billion, and Integrated Power, which grew net electricity production 17% to 48.1 TWh. The board raised the ordinary dividend 5.6% to $3.40 per share, signaling confidence despite the earnings decline. For 2026, the company targets 5% overall energy production growth and expects cash flow from operations above $26.00 billion under a $60 per barrel Brent scenario.
- Accretive hydrocarbon production growth of 4% to 2,529 kboe/d partially offset oil price decline
- Seven major project start-ups and ramp-ups in 2025 (Mero-2, Mero-3, Mero-4 in Brazil, Anchor and Ballymore in US, Fenix in Argentina, Tyra in Denmark)
- Integrated LNG sales volumes grew 10% to 43.9 Mt
- Net electricity production up 17% to 48.1 TWh
- Refining margins improved in second half of 2025, European Refining Margin Marker up 35% year-over-year
- Marketing & Services unit margin improvement offset 5% volume decline
- Operating costs maintained at $5/b
- Methane emissions from operated facilities reduced by 65% versus 2020
“In 2025, in an environment marked by a decline in oil prices, TotalEnergies reaped the benefits of its integrated and balanced multi-energy strategy, combining profitable growth and sustainable development, and for the fourth consecutive year was the most profitable major, with a ROACE of 12.6%, while also being the one investing the most in the energy transition, with nearly $3.5 billion invested in 2025 in low-carbon energies, including nearly $3 billion in electricity.”
TotalEnergies CEO, on the earnings call
What Is TotalEnergies's Outlook?
For 2026, TotalEnergies targets 5% overall energy production growth, including 3% oil and gas production growth supported by project ramp-ups and new start-ups (Lapa in Brazil, Ratawi in Iraq, North Field East in Qatar, TFT II & South in Algeria, Tilenga in Uganda). Hydrocarbon production in Q1 2026 is expected above 2.6 Mboe/d. Electricity production is targeted to grow approximately 25% to exceed 60 TWh, partly driven by the expected mid-2026 completion of the EPH acquisition. Under a $60/b Brent, $10/MBtu TTF, and $5/b ERM scenario, the company expects CFFO above $26 billion. Net investments are planned at around $15 billion, including about $3 billion for low-carbon energies. Integrated Power CFFO is expected to exceed $3 billion. LNG sales are expected above 44 Mt with average LNG sales price near $8.5/MBtu in Q1 2026. Refinery utilization is anticipated at approximately 88% in Q1 2026. The company is implementing a multi-year cash-savings plan targeting $12.5 billion over 2026-2030, with $2.5 billion planned for 2026. Gearing is targeted around 15% at year-end 2026. A temporary $2-3 billion increase in working capital requirements is expected in Q1 2026.
TTE YoY Financials
TTE Revenue by Segment
When Does TotalEnergies Report Next?
Figures from SEC filings and company reports. Not investment advice.