Q2 26 EPS
$N/A
Q2 26 Revenue
N/A
Did TTE Beat Earnings? Q2 2026 Results
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. … Read more 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.
Key Takeaways
- • 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
TTE Forward Guidance & 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
Q2 2026 vs Q2 2025, source: SEC Filings
TTE Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Patrick Pouyanné, Q2 2026 Earnings Press Release
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% |