Q1 26 EPS
$2.64
BEAT +22.22%
Est. $2.16
Q1 26 Revenue
$54.16B
BEAT +17.03%
Est. $46.28B
Did TTE Beat Earnings? Q1 2026 Results
TotalEnergies SE posted a powerful first quarter for fiscal 2026, reporting earnings per share of $2.64 on revenue of $54.16 billion, as a sharp rebound in oil prices and exceptional refining and LNG trading performance drove adjusted net income up 4… Read more TotalEnergies SE posted a powerful first quarter for fiscal 2026, reporting earnings per share of $2.64 on revenue of $54.16 billion, as a sharp rebound in oil prices and exceptional refining and LNG trading performance drove adjusted net income up 41% quarter-over-quarter to $5.39 billion. The primary engine behind the results was a resurgent Exploration and Production segment, where adjusted net operating income climbed over 40% sequentially to $2.58 billion, fueled by Brent crude averaging $81.10 per barrel and meaningful output contributions from newly launched projects including Mero-3, Mero-4, and Ballymore. Refining margins also delivered, with the European Refining Margin nearly tripling year-over-year to $11.40 per barrel. Looking ahead, management acknowledged that the ongoing Middle East conflict has shut in roughly 15% of total production, yet guided for Q2 production to grow approximately 4% year-over-year excluding that impact, with oil prices near $100 per barrel and elevated European gas prices expected to sustain strong cash generation through the second quarter.
Key Takeaways
- • Higher Brent oil prices averaging $81.1/b, up 27% QoQ and 7% YoY
- • European refining margins nearly tripled YoY to $11.4/b
- • Strong LNG and oil trading activities benefiting from market volatility
- • New project start-ups and ramp-ups including Mero-3, Mero-4, Lapa SW in Brazil, Anchor and Ballymore in the US, and Mabruk in Libya
- • LNG production increased 12% QoQ supported by growth in Australia, US and Malaysia
- • Refinery utilization rate of 92% in Q1 with no turnarounds
- • Higher unit margins in Marketing & Services
TTE YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
TTE Revenue by Segment
With YoY comparisons, source: SEC Filings
TTE Earnings Trends
TTE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TTE EPS Trend
Earnings per share: estimate vs actual
TTE Revenue Trend
Quarterly revenue: estimate vs actual
TTE Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | — | — | — | — |
| Q1 26 BEAT | $2.16 | $2.64 | +22.22% | $54.16B | +17.03% |
| Q4 25 MISS FY | $1.77 | $1.30 | -26.45% | $45.93B | +43.07% |
| FY Full Year | $7.03 | $5.78 | -17.82% | $182.34B | +0.14% |
| Q3 25 MISS | $1.80 | $1.64 | -8.89% | $43.84B | -1.14% |
| Q2 25 MISS | $1.59 | $1.37 | -14.05% | $57.96B | +35.05% |