Companies /Energy

TotalEnergies SE

NYSE: TTE Oil & Gas Integrated
$86.35
â–² $0.02 (+0.02%) today
Markets closed · 8:04pm ET

Q2 2025 Earnings

Reported Jul 24, 2025, 8:39am ET · SEC source
$1.37
Miss −14.05%
EPS · est. $1.59
$58.0B
Beat +35.05%
Revenue · est. $42.9B
+2.5%
Beating market
TTE vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−2%0+2%Jul 24Jul 25report 8:39am ETearnings+0.5%+0.2%
−2%0+2%Jul 24Jul 25earnings+0.5%+0.2%
TTE +0.2%S&P 500 +0.5%
−2%0+2%Jul 24Jul 25report 8:39am ETearnings+0.5%+0.2%
−2%0+2%Jul 24Jul 25earnings+0.5%+0.2%
TTE +0.2%NASDAQ +0.5%
−2%0+2%+4%Jul 23Aug 1report 8:39am ETearnings−2.0%−2.2%
−2%0+2%+4%Jul 23Aug 1earnings−2.0%−2.2%
TTE −2.2%S&P 500 −2.0%
−2%0+2%+4%Jul 23Aug 1report 8:39am ETearnings−1.9%−2.2%
−2%0+2%+4%Jul 23Aug 1earnings−1.9%−2.2%
TTE −2.2%NASDAQ −1.9%
−3.11%
Day of report
+0.38%
Next session
−1.47%
One week
+3.79%
30 days

S&P 500 over the same 30 days: +1.27%.

Did TTE Beat Earnings? Q2 2025 Results

TotalEnergies delivered a mixed second quarter for 2025, posting earnings that fell short of Wall Street expectations even as revenue cleared estimates by a wide margin. The French energy giant reported adjusted EPS of $1.37, missing the $1.59 consensus by 14.05%, while revenue of $57.96 billion topped the $42.92 billion estimate by 35.05%, rising 0.9% year over year. The earnings shortfall traced directly to deteriorating commodity prices, with Brent crude sliding roughly 10% to $67.90 per barrel and LNG selling prices retreating to $9.10 per million BTU, compressing margins across Exploration and Production and Integrated LNG, the company's two largest profit contributors. Adjusted net income fell 15% sequentially to $3.58 billion as a result. Looking ahead, TotalEnergies guided Q3 LNG selling prices to $9.00 to $9.50 per million BTU and projected hydrocarbon production growth above 3% year over year, with full-year net investments expected to stay within the $17.00 to $17.50 billion guidance range as planned asset disposals unfold in the second half.

Key Takeaways
  • Lower Brent oil prices ($67.9/b in Q2 vs $75.7/b in Q1) reduced E&P profitability
  • Lower average LNG selling price ($9.10/Mbtu vs $10.00/Mbtu in Q1) and reduced gas trading volatility
  • Production growth of 2.5% year-over-year from start-ups and ramp-ups (Mero-2/3/4, Fenix, Tyra, Anchor, Ballymore)
  • Improved refining margins and utilization rates boosted Refining & Chemicals results
  • Seasonal demand in European transport markets lifted Marketing & Services
  • Net power production up 28% year-over-year driven by renewable growth and UK gas flexible capacity acquisitions
  • Gross installed renewable capacity grew 26% year-over-year to 30.2 GW

Forward Guidance & Outlook

Oil markets remain volatile at $60-70/b amid abundant OPEC+ supply and weak demand from global economic slowdown. Refining and petrochemical margins face structural overcapacity, though summer driving season supports margins above $50/ton entering Q3 2025. European gas prices expected to remain around $12/Mbtu for Q3 2025 and winter 2025/26 due to stock replenishment. TotalEnergies anticipates average LNG selling price of $9-9.5/Mbtu for Q3 2025. Hydrocarbon production in Q3 2025 expected to increase over 3% year-over-year, in line with full-year growth target. Refinery utilization rates guided to 80-85% in Q3 given scheduled maintenance at Antwerp, Port Arthur and HTC. Full-year net investments expected within the $17-17.5 billion guidance range given planned disposals in H2.

TTE YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$20.0B$40.0B$60.0B$57.4B$58.0BRevenue$4.4B$3.1BNet Income
$0$20.0B$40.0B$60.0BRevenueNet Income

TTE Revenue by Segment

Refining & Chemicals$28.5B
Marketing & Services$15.4B
Exploration & Production$10.2B
Integrated Power$4.7B
Integrated LNG$4.5B

Figures from SEC filings and company reports. Not investment advice.