Zinger Key Points
- TotalEnergies Q4 adjusted EPS of $1.90 beat estimates, with sales of $52.51B surpassing expectations.
- TotalEnergies anticipates over 3% production growth in 2025, with strong LNG sales projections.
- Brand New Membership Level: Benzinga Trade Alerts
TotalEnergies SE TTE shares are trading higher on Wednesday. The company reported fourth-quarter adjusted EPS of $1.90, beating the consensus of $1.84.
Sales of $52.51 billion topped the consensus of $42.77 billion. Hydrocarbon production rose 1% quarter over quarter (Q/Q) to 2,427 kboe/d in the quarter, leading to a production of 2,434 kboe/d in 2024.
Apart from this, the company witnessed a 1% Q/Q production decline in Exploration & Production and an increase of 6% Q/Q in Integrated LNG businesses.
Adjusted operating income fell 7% Q/Q to $2.31 billion in Exploration & Production, up 35% Q/Q to $1.43 billion in Integrated LNG, up 19% Q/Q to $575 million and rose 32% Q/Q to $318 million in Refining & Chemicals segments.
Adjusted EBITDA in the quarter stood at $10.5 billion, up 5% sequentially. Operating cash flow stood at $12.5 billion, an increase of 74% Q/Q.
TotalEnergies plans to propose a 3.22 euro per share dividend for FY 2024 at the May 23, 2025 meeting, a 7% increase from 2023. TotalEnergies repurchased 32.9 million shares for cancellation in the fourth quarter of 2024 for $2 billion.
Outlook: For the first quarter of FY25, the company anticipates hydrocarbon production of 2.5 and 2.55 Mboe/d.
In 2025, the company expects hydrocarbon production to grow over 3%, driven by the ramp-up of 2024 start-ups and new production, including Ballymore in the Gulf of Mexico and Mero-4 in Brazil.
The company anticipates the average LNG selling price to be above $10/Mbtu in the first quarter of 2025. TotalEnergies projects more than 40 Mt of LNG sales in 2025.
The company expects a 5% energy production increase in 2025, with Integrated Power comprising 10% of hydrocarbons. For FY25, the company expects net investments of $17 billion to $17.5 billion.
Investors can gain exposure to the stock via Octane All-Cap Value Energy ETF OCTA.
Price Action: TTE shares are up 2.03% at $60.39 at the last check Wednesday.
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