TotalEnergies SE (NYSE:TTE) shares are trading lower on Wednesday after the company reported first-quarter adjusted EPS of $1.83, down 15% year over year (Y/Y), and missed the consensus of $1.88.
Sales of $52.25 billion topped the consensus of $44.91 billion.
Hydrocarbon production rose 4% Y/Y to 2,558 kboe/d in the quarter, aided by start-ups and ramp-ups (+4%) and positive portfolio effect from acquisitions (+3%), partly offset by lower availability of production facilities (-1%) and natural field declines (-2%).
Also Read: TotalEnergies Inks 20-Year LNG Deal With NextDecade, Awaits Key Investment Decision
Apart from this, the company experienced flat year-over-year (Y/Y) production in the Exploration & Production segment and an 18% Y/Y increase in Integrated LNG businesses.
Adjusted operating income fell 4% Y/Y to $2.45 billion in Exploration & Production, up 6% Y/Y to $1.29 billion in Integrated LNG, down 17% Y/Y to $506 million in Integrated Power and rose 69% Y/Y to $301 million in Refining & Chemicals segments.
Adjusted EBITDA in the quarter stood at $10.5 billion, down 9% Y/Y.
Operating cash flow was $2.56 billion, a 18% year-over-year increase, in the quarter.
Dividend: TotalEnergies plans to propose the first interim dividend of €0.85/share for 2025, a 7.6% increase from 2024.
Buyback: TotalEnergies planned a share buyback of up to $2 billion for the second quarter, despite a weak pricing environment with Brent below $70/b since the beginning of April and an uncertain geopolitical and macroeconomic environment.
Outlook: For the second quarter of FY25, the company anticipates hydrocarbon production to 2% to 3% Y/Y, with an impact from more planned maintenance than during the first quarter of 2025 (50 kboe/d) and second quarter of 2024.
The company anticipates the average LNG selling price to be between $9 and $9.5/Mbtu in the second quarter of 2025.
For FY25, the company expects net investments of $17 billion to $17.5 billion.
Investors can gain exposure to the stock via FT Energy Income Partners Strategy ETF (NYSE:EIPX) and GMO International Value ETF (NYSE:GMOI).
Price Action: TTE shares were down 2.5% at $57.02 at last check Wednesday.
Read Next:
Photo: sdf_qwe via Shutterstock
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.