TotalEnergies 3Q Profit Jumps on Higher Prices; Books New Russia Impairment
27 Octobre 2022 - 09:07AM
Dow Jones News
By Giulia Petroni
TotalEnergies SE said Thursday that profit jumped in the third
quarter of the year as it benefited from high commodity prices, but
also booked a new impairment related to Russia.
The French oil-and-gas major said quarterly net profit came in
at $6.63 billion compared with $4.65 billion in the same period
last year. On an adjusted basis, profit was $9.86 billion, above a
FactSet-compiled consensus that had forecast the figure at $9.54
billion.
The company said it booked a new impairment of $3.1 billion
related to Russia in the quarter.
TotalEnergies's hydrocarbon production decreased 5% on year to
2.67 million barrels of oil equivalent a day from 2.81 million
boe/d in the previous year, partly due to higher planned
maintenance on the Ichthys gas field in Australia and unplanned
shutdowns of the Kashagan oil field in the Caspian Sea. The company
expects fourth-quarter production at around 2.8 million boe/d.
Sales for the third quarter rose to $69.04 billion from $54.73
billion for the year-earlier period.
TotalEnergies said it expects oil prices to be supported by the
OPEC+ decision to reduce production quotas and the European ban on
Russian oil, despite anticipated slower global growth next year. It
also said gas prices should remain high and refining margins
strong.
The company will distribute a third interim dividend of 69
European cents ($0.69) a share for 2022, equal to the first and
second 2022 interim dividends and an increase of 5% from the
interim and the final dividends for 2021.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 27, 2022 02:52 ET (06:52 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
TotalEnergies (EU:TTE)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
TotalEnergies (EU:TTE)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024