TotalEnergies Q1 Profit Rises, Adj. EBITDA Down On Weak Sales

(RTTNews) - TotalEnergies SE (TTE), a French energy and petroleum firm, reported Thursday that its first-quarter net income grew 12 percent to $5.56 billion from last year's $4.94 billion.

Adjusted net income was $6.54 billion, compared to $8.98 billion a year ago. Adjusted earnings per share were $2.61, compared to prior year's $3.40.

Adjusted earnings per share in euro terms were 2.43 euros, compared to 3.03 euros a year ago.

Adjusted EBITDA declined 19 percent from last year to $14.2 billion.

Revenues from sales dropped 9 percent to $58.31 billion from $63.94 billion in the prior year.

Hydrocarbon production was 2,524 thousand barrels of oil equivalent per day in the first quarter, up 1 percent year-on-year.

Further, TotalEnergies announced the first interim dividend of 0.74 euro per share for fiscal year 2023, an increase of more than 7 percent compared to 2022

For the second quarter 2023, TotalEnergies anticipates a hydrocarbon production around 2.5 Mboe/d.

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