TotalEnergies Q4 Earnings Surpass Estimates, Revenues Fall Y/Y

TotalEnergies SE TTE reported fourth-quarter 2024 operating earnings of $1.90 (€1.78) per share, which surpassed the Zacks Consensus Estimate of $1.87 by 1.6%. The bottom line declined 12% from the year-ago figure of $2.16 (€2.02).See the Zacks Earnings Calendar to stay ahead of market-making news.TotalEnergies' earnings per share for 2024 were $7.77 (€7.18) compared with $9.40 (€8.70) reported in 2023.TTE’s Total RevenuesTotal revenues for the fourth quarter were $47.11 billion, which declined from the year-ago reported figure of $47.26 billion by 0.3%. Revenues were down 13.9% year over year. TotalEnergies SE Sponsored ADR Price, Consensus and EPS Surprise TotalEnergies SE Sponsored ADR price-consensus-eps-surprise-chart | TotalEnergies SE Sponsored ADR QuoteTTE’s ProductionIn the fourth quarter, hydrocarbon production averaged 2,427 thousand barrels of oil equivalent per day, down 1.4% year over year. This year-over-year decrease was due to natural field declines, offset by contributions from startups and ramp-ups. The hydrocarbon production volumes were near the middle of the guided range of 2,400-2,450 thousand barrels of oil equivalent per day.In the reported quarter, liquid production averaged 1,445 thousand barrels per day, down 4% year over year.Quarterly gas production was 5,323 thousand cubic feet per day, up 3.2% year over year. This can be attributed to higher gas output from all regions across the globe where TotalEnergies has natural gas operations.TTE’s Realized PriceThe quarterly realized price for Brent was down 11.4% to $74.7 per barrel from $84.3 in the year-earlier period. The average realized liquid price was $71.8 per barrel, down 10.5% year over year.Realized gas prices were up 1.45% year over year to $6.26 per thousand British thermal units (Btu).Realized LNG prices were up 0.9% year over year to $10.37 per thousand Btu.Highlights of TTE’s ReleaseNet power production were 11.4 terawatt hours in the fourth quarter of 2024, up 42.5% year over year. Nearly 60% of the power generated came from renewable sources.Net operating income was $4.99 billion, down 12.8% year over year due to lower refining margins.Interest expenses were $786 million, up 19% from the prior-year period.In the fourth quarter of 2024, TotalEnergies acquired assets worth $1.23 billion and sold assets worth $1.20 billion.It repurchased 32.9 million shares in the fourth quarter of 2024 for $2 billion. TotalEnergies repurchased 121 million shares in 2024 for $8 billion.TTE’s Segmental DetailsExploration & Production’s operating earnings were $2.30 billion, down 17.7% from $2.8 billion in the year-ago period.Integrated LNG’s operating income was $1.43 billion, down 1.6% from $1.45 billion in the year-earlier quarter.Integrated Power’s operating income was $575 million, up 9.1% from $527 million in the year-ago quarter.Refining & Chemicals’ operating income of $318 million declined 49.8% from $633 million in the prior-year quarter.Marketing & Services’ operating income of $362 million increased 18.3% from $306 million in the fourth quarter of 2023.TTE’s Financial UpdateCash and cash equivalents as of Dec. 31, 2024 were $25.84 billion compared with $27.26 billion as of Dec. 31, 2023. Gearing, including leases, was 13.8% at the end of the fourth quarter of 2024 compared with 10.9% at the fourth-quarter 2023-end.Cash flow from operating activities in 2024 was $30.85 billion down 24% year over year.TTE’s GuidanceTotalEnergies expects first-quarter 2025 hydrocarbon production in the range of 2,500-2,550 thousand barrels of oil equivalent per day. The guidance considers benefits from the ramp-ups of 2024 start-ups, closing of acquisitions of SapuraOMV in Malaysia and interest in Eagle Ford shale gas plays in Texas during the quarter.TTE anticipates investing in the range of $17-$17.5 billion in 2025, of which $4.5 billion dedicated to low carbon energies.TTE’s Zacks RankTotalEnergies currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Upcoming ReleasesDevon Energy Corporation DVN is slated to report fourth-quarter results on Feb. 18, after market close. The Zacks Consensus Estimate for earnings is pegged at $1 per share, which indicates a year-over-year decline of 29.08%. DVN’s long-term (three to five years) earnings growth rate is 6.6%. The firm delivered an average earnings surprise of 4.99% in the trailing four quarters.Occidental Petroleum Corporation OXY is slated to report fourth-quarter results on Feb. 18, after market close. The Zacks Consensus Estimate for earnings is pegged at 67 cents per share, which indicates a year-over-year decline of 9.46%.The company delivered an average earnings surprise of 18.71% in the trailing four quarters.BP Plc BP is slated to report fourth-quarter results soon. The Zacks Consensus Estimate for earnings is pegged at 56 cents per share, which indicates a year-over-year decline of 47.66%. BP’s long-term earnings growth rate is 4%. The firm delivered an average earnings surprise of 1.86% in the trailing four quarters. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP p.l.c. (BP): Free Stock Analysis Report Devon Energy Corporation (DVN): Free Stock Analysis Report Occidental Petroleum Corporation (OXY): Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks