TotalEnergies : Earnings slightly below expectations – Outlook and fundamentals intact
>Q2 2024 earnings were 2.7% below consensus - Adjusted net attributable profit came to € 4.7bn, 1% below our estimate and 2.7% below the consensus. This was a 8.6% sequential drop marked by a satisfactory E&P performance, low refining margins, and higher holding company charges.Favourable environment despite the drop in refining margins - In E&P, adjusted net operating profit came to € 2.67bn, 3% above the consensus. Production was down slightly by 1...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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