GET DAILY SIGNALSTotalEnergies (TTE) Delivers +51% Sequential Rise in Q3 Adjusted Net Income
Key Takeaways
- TotalEnergies reported adjusted net income of $9.1 billion for the third quarter of 2026, up 51% quarter-over-quarter and above the Visible Alpha consensus estimate of roughly $8.73 billion.
- Net income reached $8.26 billion, more than double the $3.68 billion recorded in the same period a year earlier.
- Revenue climbed to approximately $61.9 billion, up from $43.8 billion in the prior-year quarter, supported by historically high refining margins and rising gas prices.
- Cash flow from operations excluding working capital (CFFO) rose to $12.3 billion, up 25% from the second quarter, while the company maintained its interim dividend and announced new buybacks.
- For more on TotalEnergies, explore Major News, Today's Price Move, Price Targets, and Forecasts on dedicated pages.
Putting the Results in Context
TotalEnergies’ third-quarter report carries particular weight for energy investors because it shows how effectively the French integrated major can turn a volatile macro backdrop into profits. Brent crude averaged around $97 per barrel during the period, European gas prices rallied, and refining margins reached multi-year highs amid geopolitical disruptions and tight inventories. Against that backdrop, the results highlight how the company’s diversified portfolio—spanning exploration and production, LNG, refining and chemicals, and integrated power—performs when commodity prices move in different directions. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry. The quarter further clarifies the company’s approach to shareholder returns, with management reaffirming its plan to return a significant share of cash flow through dividends and buybacks.
Breaking Down the Reported Figures
TotalEnergies delivered adjusted net income of $9.1 billion for the third quarter of 2026, a 51% increase from $6.0 billion in the second quarter and well above the roughly $3.98 billion reported a year earlier. The figure beat the Visible Alpha consensus estimate of about $8.73 billion. Net income rose to $8.26 billion from $3.68 billion in the prior-year period, while adjusted diluted earnings per share reached $4.03 (€3.50).
Revenue climbed to approximately $61.9 billion, up from $43.8 billion a year ago. Cash flow from operations excluding working capital (CFFO) reached $12.3 billion, up 25% quarter-over-quarter. The strong performance was led by the Refining & Chemicals segment, where adjusted net operating income surged to $3.6 billion, and by Integrated LNG, where adjusted net operating income more than doubled to $1.9 billion on higher LNG prices and strong trading results.
Market Reaction and Investor Sentiment
Sentiment heading into the print was shaped by elevated energy prices and record refining margins, with investors watching whether TotalEnergies could translate favorable conditions into cash flow. The reported results exceeded the consensus adjusted net income estimate, and management reinforced its shareholder-return framework by maintaining the interim dividend at €0.90 per share (up 5.9% year-over-year) and authorizing $2.5 billion in share buybacks for the fourth quarter of 2026 and the first quarter of 2027. The company also reiterated its commitment to return about 40% of cash flow to shareholders. These capital-allocation signals, combined with the profit beat, framed a broadly constructive investor response, though attention remains on the durability of refining margins and the volatile geopolitical backdrop.
Forward Outlook and Key Factors to Monitor
Looking ahead, investors should watch several interrelated drivers. On production, management expects hydrocarbon output, excluding the impact of the Middle East conflict, to grow by more than 3% year-over-year in the fourth quarter, in line with annual guidance. The company has also indicated that the conflict's impact on production has eased to below 5%, though the situation around the Strait of Hormuz remains fluid.
Refining margins will be another key swing factor. TotalEnergies ran its refineries at high utilization during the third quarter and expects similar treatment levels in the fourth quarter, but margins of this magnitude are historically unusual and could normalize. On the gas side, management anticipates an average LNG selling price above $14 per million British thermal units (MMBtu) for the fourth quarter, reflecting the lag effect in its contract pricing formulas.
Finally, capital returns and balance-sheet discipline remain in focus. The company reported gearing below 10% and reiterated its target of returning 40% of cash flow to shareholders, suggesting dividends and buybacks could remain a prominent feature of the investment case. Investors will likely monitor how integrated power contributes to growth, with the company on track toward its annual power-generation objective.
Using AI Tools in My Research
In my own analysis, I occasionally turn to Tickeron’s AI Screener to quickly filter names across the energy sector and compare technical and fundamental signals. It helps surface ideas and context without replacing the deeper fundamental work, and I’ve found it particularly useful when reviewing results like these for broader sector trends.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
TTE in upward trend: price rose above 50-day moving average on October 12, 2026
TTE moved above its 50-day moving average on October 12, 2026 date and that indicates a change from a downward trend to an upward trend. In 26 of 42 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are 62%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 13, 2026. You may want to consider a long position or call options on TTE as a result. In 56 of 93 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 60%.
The Moving Average Convergence Divergence (MACD) for TTE just turned positive on October 13, 2026. Looking at past instances where TTE's MACD turned positive, the stock continued to rise in 23 of 46 cases over the following month. The odds of a continued upward trend are 50%.
The 10-day moving average for TTE crossed bullishly above the 50-day moving average on October 20, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 11 of 18 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 61%.
Following a +3.08% 3-day Advance, the price is estimated to grow further. Considering data from situations where TTE advanced for three days, in 205 of 376 cases, the price rose further within the following month. The odds of a continued upward trend are 55%.
Bearish Trend Analysis
The 10-day RSI Indicator for TTE moved out of overbought territory on October 27, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 40 similar instances where the indicator moved out of overbought territory. In 17 of the 40 cases, the stock moved lower in the following days. This puts the odds of a move lower at 43%.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 11 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where TTE declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 47%.
TTE broke above its upper Bollinger Band on October 16, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for TTE entered a downward trend on October 13, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is 6 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 26, placing this stock better than average.
The Tickeron Valuation Rating of 40 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.597) is normal, around the industry mean (1.669). P/E Ratio (11.509) is within average values for comparable stocks, (11.216). Projected Growth (PEG Ratio) (0.816) is also within normal values, averaging (1.088). Dividend Yield (0.044) settles around the average of (0.047) among similar stocks. P/S Ratio (1.013) is also within normal values, averaging (3.764).
The Tickeron PE Growth Rating for this company is 40 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 42 (best 1 - 100 worst), indicating steady price growth. TTE’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 58 (best 1 - 100 worst), indicating slightly weaker than average sales and a marginally profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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a developer of oil and gas products
Industry IntegratedOil
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