TotalEnergies : Solid Q3 results – Capex under control and good outlook for Q4
>Q3 2023 results beat our estimate by 4% - Adjusted attributable net profit came to $ 6.5bn, 4% above the consensus, for a sequential rebound of 30%, marked by the upturn in E&P and R&C.E&P: earnings recovery fuelled by Brent and lower taxes - In E&P, adjusted net operating profit came to $ 3.14bn (+33.6% qoq) in the wake of rising oil prices and a lower tax rate (less production in the North Sea in this quarter’s mix). Management is guiding for fla...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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