The French energy firm’s adjusted earnings per share for the third quarter were $4.03, surpassing the analyst projection of $3.97. TotalEnergies attributed the results to high commodity prices and record earnings from its downstream business segment, which capitalized on high refining margins.
The company also beat targets for cash flow from operations, which totaled $12.63B against an estimate of $11.99B, and adjusted EBITDA, which reached $17.81B. For the period, the company’s adjusted net income reached $9.10B, higher than the $8.9B the market had anticipated.
