TotalEnergies: Q3 adjusted net income down
(CercleFinance.com) - TotalEnergies has reported lower Q3 earnings on Thursday, due to lower oil prices and a y-o-y contraction in production.
Its Q3 adjusted net income fell 35% to $6.5bn, although exceeded the consensus forecast of $6.2bn, with an adjusted Ebitda of $13.1bn, down 33%.
In particular, the company suffered from an average Brent crude oil price of $86.7 a barrel, down 14% from a year ago.
Total nonetheless confirmed its policy of return to shareholders, including the payment of a third interim dividend of E0.74, up 7.25%.
The oil giant also said that it would continue to implement its E9bn share buyback program for 2023, which will raise its payout ratio to 43%, above its new target of 40%.
Following this publication, which analysts considered unsurprising, the share price fell by 0.8% in early trading on Thursday, pretty much in line with the CAC 40 (-1% at the same time).
Copyright (c) 2023 CercleFinance.com. All rights reserved.
Its Q3 adjusted net income fell 35% to $6.5bn, although exceeded the consensus forecast of $6.2bn, with an adjusted Ebitda of $13.1bn, down 33%.
In particular, the company suffered from an average Brent crude oil price of $86.7 a barrel, down 14% from a year ago.
Total nonetheless confirmed its policy of return to shareholders, including the payment of a third interim dividend of E0.74, up 7.25%.
The oil giant also said that it would continue to implement its E9bn share buyback program for 2023, which will raise its payout ratio to 43%, above its new target of 40%.
Following this publication, which analysts considered unsurprising, the share price fell by 0.8% in early trading on Thursday, pretty much in line with the CAC 40 (-1% at the same time).
Copyright (c) 2023 CercleFinance.com. All rights reserved.