TotalEnergies SENYSE: TTE

TotalEnergies SE (NYSE:TTE ) Q3 2024 Earnings Conference Call October 31, 2024 7:00 AM ET Company Participants Patrick Pouyanné – Chairman and Chief Executive Officer Jean-Pierre Sbraire – Chief Financial Officer Conference Call Participants Lydia Rainforth – Barclays Michele Della Vigna – Goldman Sachs Matt Lofting – JPMorgan Irene Himona – Bernstein Christopher Kuplent – Bank of America Martijn Rats – Morgan Stanley Doug Leggate – Wolfe Research Lucas Herrmann – BNP Kim Fustier – HSBC Henri Patricot – UBS Paul Cheng – Scotiabank Henry Tarr – Berenberg Jason Gabelman – TD Cowen Operator Ladies and gentlemen, welcome to the TotalEnergies Third Quarter 2024 Results Conference Call. I now hand over to Patrick Pouyanné, Chairman and CEO; and Jean-Pierre Sbraire, CFO, who will lead you through this call.

PARIS--(BUSINESS WIRE)--Regulatory News: TotalEnergies SE (Paris:TTE) (LSE:TTE) (NYSE:TTE):   3Q24   Change vs 2Q24   9M24   Change vs 9M23 Adjusted net income (TotalEnergies share)(1)         - in billions of dollars (B$)   4.1   -13%   13.9   -23% - in dollars per share   1.74   -12%   5.87   -19% Net income (TotalEnergies share) (B$)   2.3   -39%   11.8   -28% Adjusted EBITDA(1) (B$)   10.0   -9%   32.6   -15% Cash flow from operations excluding working capital (CFFO)(1) (B$)   6.8   -12%  .

French oil major TotalEnergies reported third-quarter adjusted net income at a three-year low of $4.1 billion on Thursday, hit by collapsing refining margins and upstream outages.

TTE's third-quarter earnings are expected to have gained from contributions from its organic and inorganic assets. Rising competition is likely to have been concerning.

French oil major TotalEnergies's third quarter downstream results are expected to sharply decrease due to lower refining margins in Europe and elsewhere, the company said on Tuesday.

TTE unveils its long-term oil and gas production, capital expenditure and free cash flow generation outlook.

TTE, SHEL and EQNR's carbon dioxide storage project on Norway's facility is complete and ready to receive carbon dioxide in 2025.

France's TotalEnergies expands its natural gas footprint in the United States through a deal reached with Lewis Energy Group to acquire a 45% stake in some dry gas producing assets in the Eagle Ford basin in Texas, the company said on Friday.

TotalEnergies SE is adhering to its fiscal year plan, with major projects on schedule. The company's strategy includes diversification into renewables and power generation. TotalEnergies grows more slowly in exchange for diversification.