TotalEnergies Q1 Net Income Rises 48.7% to $5.8B, EBITDA Up 20%
TotalEnergies posted Q1 2026 net income of $5.8 billion, a 48.7% increase from $3.9 billion, while adjusted net income rose 28.6% to $5.4 billion. Adjusted EBITDA climbed 20% to $12.6 billion, cash flow from operations grew 22.9% to $8.6 billion, and hydrocarbon output remained stable at 2.55 mboe/d.
1. Q1 Earnings Overview
TotalEnergies delivered net income of $5.8 billion in Q1 2026, up 48.7% year-on-year, and adjusted net income of $5.4 billion, a 28.6% increase. Reported EPS stood at $2.68, with adjusted diluted earnings per share reaching $2.45, up 34% from $1.83.
2. Operational Performance
Adjusted EBITDA rose 20% to $12.6 billion, driven by stronger liquids prices and project ramp-ups. Cash flow from operations climbed 22.9% to $8.6 billion, while LNG production increased 12% quarter-to-quarter and hydrocarbon output held at 2.55 mboe/d.
3. Sustainability and Project Development
The company achieved a 33% reduction in methane emissions by cutting flaring and fugitive releases. New field start-ups in Angola and Libya and the acquisition of European power assets supported diversified growth across oil, gas and power.
4. Outlook and Capital Allocation
Excluding Middle East disruptions, production is forecast to grow 4% year-on-year. Refinery utilization is expected at 80–85% in Q2, and net investments will remain at $15 billion for 2026, with potential acceleration of short-cycle projects.