TotalEnergies Reports $9.1 Billion in Adjusted Income and $12.3 Billion in Cash Flow for Third Quarter
Key Facts
TotalEnergies reported third-quarter 2026 results on October 29, posting adjusted net income of $9.1 billion and cash flow of $12.3 billion. The company said both figures rose sharply from the previous quarter, attributing the performance to its integrated business model and geographic diversity. The announcement coincided with the gearing ratio falling below 10% at quarter-end. The company kept its interim dividend at €0.90 per share and announced $2.5 billion in share buybacks in the fourth quarter of 2026 and the first quarter of 2027.
Quarter on quarter, adjusted income was higher than the $6.027 billion recorded in the second quarter and the $5.394 billion in the first quarter. Adjusted income in the third quarter of 2025 was $4.0 billion, while cash flow then was $7.1 billion. The company described income that quarter as being at the level of the year-earlier period and said cash flow rose 4% year on year. Against that base, adjusted income in the third quarter of 2026 was more than double its level a year earlier. Cash flow also increased from $7.1 billion to $12.3 billion, according to the published figures for the two periods.
The company’s indicators showed an average liquefied natural gas price of $12.28 per million British thermal units in the third quarter, while the European refining margin indicator was $33.2 per barrel. Before publishing its results, TotalEnergies said LNG performance was expected to rise sharply, driven by a 20% increase in its average price from the previous quarter. It also expected refining and chemicals cash flow to reach an exceptional level, with an increase of $2 billion compared with the second quarter. The company linked its forecast to a 10% increase in refining throughput, allowing it to benefit from high refining margins in Europe and around the world. It also expected a positive working-capital contribution of about $3 billion during the quarter.
On shareholder returns, the company said the interim dividend would remain at €0.90 per share. It also said in its results statement that share buybacks would total $2.5 billion in the fourth quarter of 2026 and the first quarter of 2027. An earlier company disclosure had set the amount at $2.5 billion for the fourth quarter, while giving a range of $2 billion to $2.5 billion for the first quarter of 2027. The earlier disclosure presented the first-quarter range as an estimate announced at the time, while the later results statement gave an amount of $2.5 billion for that quarter. TTE shares closed at $92.88 on October 28, on the eve of the results announcement.
TotalEnergies set February 10, 2027, as the date for reporting fourth-quarter and full-year 2026 results. The announcement follows third-quarter results that included adjusted net income of $9.1 billion and cash flow of $12.3 billion, alongside a gearing ratio below 10% at period-end. The announced share-buyback plan also extends into the first quarter of 2027. The February release will report results for the final quarter and the full fiscal year.