TotalEnergies : Q4 2023 results a shade below expectations. In a strong position to tackle 2024. Outperform rating confirmed
>Q4 2023 earnings, 1.4% shy of expectations - Adjusted net attributable profit came in at $ 5.2bn, 1.4% below the consensus and down 19% sequentially, marked by lower E&P and especially R&C but resilience from iLNG and iPower.A favourable environment overall with the exception of downstream - In E&P, adjusted net operating profit $ 2.8bn, 3% below the consensus given the increase in tax following the sale of Canadian assets. Looking ahead, the group ...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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