Q1 2026 TotalEnergies SE Earnings Call Transcript
Key Points
- TotalEnergies SE (TTE) demonstrated strong operational performance with a 4% year-on-year organic production growth in oil and gas, exceeding the annual guidance of 3%.
- The company reported a significant increase in cash flow and adjusted net income, with first-quarter cash flow reaching $8.6 billion, up 20% compared to the previous year.
- TotalEnergies SE (TTE) maintained a diversified portfolio, allowing it to compensate for the impact of the Middle East conflict through its geographically diversified oil and LNG assets.
- The company increased its first interim dividend by 5.9% to EUR0.9 per share, demonstrating a commitment to strong returns to shareholders.
- TotalEnergies SE (TTE) successfully restarted construction activities at the Mozambique LNG project, with over 6,000 people on site, contributing to the diversification of its LNG supply.
- The conflict in the Middle East led to a shutdown of production in Qatar, Iraq, and UAE offshore, impacting approximately 15% of TotalEnergies SE (TTE)'s total oil and gas production.
- The closure of the Strait of Hormuz caused significant disruption to the world energy system, affecting around 20% of worldwide oil and LNG exports.
- The company's refining activities were impacted by strikes at the SATORP site, causing damage to three units and reducing production capacity.
- TotalEnergies SE (TTE) faced challenges in managing the force majeure situation in Qatar, affecting its LNG portfolio and commitments to customers.
- The volatility in oil prices and market conditions posed risks to the company's operations and financial performance, with significant swings observed in recent months.
Ladies and gentlemen, welcome to TotalEnergies first-quarter 2026 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. Sir, please go ahead.
Good afternoon or good morning, everyone. Happy to be with you again today. So before Jean-Pierre will go through the details of this first-quarter financials, I would like first to make some few opening remarks, in particular on the conflict in the Middle East and its consequences.
As you know, this region, Middle East, holds, of course, a very special place for TotalEnergies. It's deeply rooted in our DNA, in our history, in our identity because it is where the company was born in 1924 in Iraq. And more importantly, this is a region where we have established along the years a prime position which differentiates ourselves.
Since the very first day of the conflict on February 28,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
