TotalEnergies Full Year 2024 Earnings: Misses Expectations

TotalEnergies (EPA:TTE) Full Year 2024 Results

Key Financial Results

• Revenue: US$195.6b (down 11% from FY 2023).
• Net income: US$15.8b (down 26% from FY 2023).
• Profit margin: 8.1% (down from 9.8% in FY 2023). The decrease in margin was driven by lower revenue.
• EPS: US$6.86 (down from US$8.85 in FY 2023).

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TTE Production and Reserves

Oil reserves

• Proven reserves: 5980 MMbbls.

Gas reserves

• Proven reserves: 27626 Bcf.

Combined production

• Oil equivalent production: 891 MMboe (906 MMboe in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

TotalEnergies Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 7.0%.

The primary driver behind last 12 months revenue was the Refining & Chemicals segment contributing a total revenue of US$124.2b (63% of total revenue). Notably, cost of sales worth US$127.7b amounted to 65% of total revenue thereby underscoring the impact on earnings. Explore how TTE's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Oil and Gas industry in France.

Performance of the French Oil and Gas industry.

The company's shares are down 10% from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for TotalEnergies that we have uncovered.

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