TotalEnergies Q4 Revenue Hits $50.6B, EPS Misses by $0.05 as Oil Prices Slump
TotalEnergies posted Q4 adjusted EPS of $1.73, missing estimates by $0.05, while revenue rose to $50.62 billion, topping the $33.94 billion forecast and boosted by refining margins. Net income fell 15% to $3.8 billion and TotalEnergies declared a €0.85 dividend alongside $3–6 billion of 2026 share buybacks.
1. Fourth-Quarter Financial Results
TotalEnergies reported adjusted EPS of $1.73, missing the $1.78 estimate by $0.05, while revenue climbed to $50.62 billion versus a $33.94 billion forecast. Adjusted net income declined 15% year over year to $3.8 billion and adjusted EBITDA fell 6% to $10.1 billion amid lower oil prices.
2. Segment Performance
Exploration & Production income slid 17% sequentially to $1.81 billion on weaker liquids and gas prices, while refining & chemicals surged 46% to $1.0 billion thanks to stronger European margins. Integrated LNG earnings rose 8% to $922 million, integrated power dipped 1% to $564 million, and marketing & services totaled $341 million.
3. Production, Dividend and Buybacks
Hydrocarbon output increased 1% sequentially to 2.55 million boe/d, with renewables capacity at 34.1 GW and net power production flat at 12.6 TWh. The company declared a €0.85 final dividend and repurchased $7.5 billion of shares last year.
4. 2026 Outlook and Cost Savings
TotalEnergies targets 3% oil and gas production growth and a 7% cash flow increase at $60 per barrel, supported by a $12.5 billion cost-savings plan through 2030. It authorized $750 million of Q1 buybacks and plans $3–6 billion of share repurchases for 2026.