Total : Q3 2019 results topped expectations, resilient cash generation
>Earnings 8% ahead of expectations - The group's adjusted attributable net profit came in at $Â 3.017bn (+4.5% q-o-q/-23.8%% y-o-y), 8% higher than our forecast and the consensus (ODDO BHF: $Â 2.772bn/consensus $Â 2.8bn). Despite the fall in Brent and gas prices offset by the upturn in refining margins and a low tax rate.E&P: volume growth limiting the impact of the decline in Brent - In E&P, operating profit totalled $1.734 billion (-14.2% q-o-q/-39.5...Total is an international integrated oil and gas company also active in solar and biomass energy sources. Co. engages all aspects of the petroleum industry, including Upstream operations (oil and gas exploration, development and production, and LNG (Liquefied Natural Gas)) and Downstream operations (refining, petrochemicals, specialty chemicals, marketing and marketing and trading and shipping of crude oil and petroleum products). In addition, Co. is engaged in the coal mining and power generation sectors. Co.'s worldwide operations are conducted through three business segments: Upstream, Refining & Chemicals, and Marketing & Services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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