TotalEnergies Q4 Net Profit Climbs, Adj. EPS Miss Estimates; Lifts Dividend

(RTTNews) - France's TotalEnergies SE (TTE) reported Wednesday that its fourth-quarter IFRS net income climbed 55 percent to $5.06 billion from last year's $3.26 billion.

Earnings per share climbed to $2.09 from $1.26 a year ago.

Adjusted net income, TotalEnergies share, was $5.23 billion or $2.16 per share, compared to $7.56 billion or $2.97 per share a year ago.

Analysts on average expected the company to report earnings of $2.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Adjusted earnings per share in euros were 2.02 euros, compared to 2.93 euros last year.

Adjusted EBITDA fell 27 percent from last year to $11.70 billion from $16 billion a year earlier.

In the quarter, sales declined to $59.24 billion from $68.58 billion last year. Hydrocarbon production was 2,462 thousand barrels of oil equivalent per day in the fourth quarter 2023, down 12 percent.

Further, the company said its Board of Directors will propose at the Shareholders' Meeting to be held on May 24, the distribution of a final 2023 dividend of 0.79 euro/share, resulting in an increase of 7.1 percent for the ordinary 2023 dividend to 3.01 euros/share.

The Board also confirmed a shareholder return policy for 2024 targeting >40 percent CFFO payout, which will combine an increase in interim dividends of 6.8 percent to 0.79 euro/share and $2 billion of share buybacks in the first quarter of 2024.

In Paris, TotalEnergies shares were trading at 59.55 euros, down 1.24 percent.

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