TotalEnergies beats top-line and bottom-line estimates; initiates Q2 production outlook [Seeking Alpha]
TotalEnergies SE (TTE)
Company Research
Source: Seeking Alpha
During the first quarter, Oil & Gas production was 2.46 Mboe/d, benefiting from 6% quarter-to-quarter production growth in LNG and from start-ups at Mero 2 in Brazil and Akpo West in Nigeria. "Given these strong results, in line with TotalEnergies' ambitious 2024 objectives, the board decided the distribution of a first interim dividend of 0.79 €/share for fiscal year 2024, an increase close to 7% compared to 2023, and authorized the company to buy back shares for $2 billion in the second quarter of 2024," said CEO Patrick Pouyanné. Hydrocarbon production was 2,461 thousand barrels of oil equivalent per day in the first quarter 2024. Outlook: Given the evolution of oil and gas prices in recent months and the lag effect on price formulas, TotalEnergies anticipates that its average LNG selling price should be between $9 and $10/Mbtu in the second quarter 2024. Second quarter 2024 hydrocarbon production is expected to be between 2.4 and 2.45 Mboe/d, impacted by planned maintenance
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TTE
Earnings
- 4/26/24 - Beat
TTE
Sec Filings
- 5/2/24 - Form 6-K
- 4/29/24 - Form F-3ASR
- 4/26/24 - Form S-8
- TTE's page on the SEC website