TotalEnergies Q2 Profit Surges, Adj. EPS Tops View; Plans Up To $2 Bln Share Buyback In Q3

(RTTNews) - French oil and gas company TotalEnergies SE (TTE, TTE.L) reported Thursday that its second-quarter net income (TotalEnergies share) more than doubled to $5.69 billion from last year's $2.21 billion euros.

Adjusted net income (TotalEnergies share) was $9.80 billion, higher than last year's $3.46 billion. Adjusted earnings per share were $3.75, compared to $1.27 a year ago.

On average, four analysts polled by Thomson Reuters expected earnings of $3.21 per share for the quarter. Analysts' estimates typically exclude special items.

In euro terms, adjusted earnings per share were 3.50 euros, compared to 1.06 euros last year.

Adjusted EBITDA was $18.74 billion, up from $8.67 billion last year.

Revenues from sales climbed 69 percent to $70.46 billion from $41.64 billion a year ago.

Further, the Board of Directors approved the distribution of the 2022 second interim dividend in the amount of 0.69 euro/share, up 5 percent year-on-year.

The board also authorized the Company to continue share buybacks of up to $2 billion in the third quarter.

Looking ahead for the third quarter, the company expects production to be stable sequentially.

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