CEO Patrick Pouyanné noted that the company successfully navigated a high-price environment, bolstered by historically high refining margins in Europe and worldwide. The firm’s cash flow from operations, excluding working capital, climbed to $12.3 billion—a 25% increase over the second quarter of 2026. Hydrocarbon production averaged 2.474 million barrels of oil equivalent per day, marking a 3% quarterly rise, with project ramp-ups in Brazil, the United States, and Angola helping to mitigate output constraints stemming from tensions in the Middle East.
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TotalEnergies Posts $9.1 Billion Profit as Refining Margins Surge
TotalEnergies reported a sharp increase in profitability for the third quarter of 2026, with adjusted net income reaching $9.1 billion. The energy giant leveraged its integrated business model and strong refining margins to offset the impact of volatile oil and gas markets, while maintaining a robust production growth trajectory despite regional conflicts.
Financial discipline remained a priority, as the company’s gearing ratio improved to 9.1% from 13.1% in the previous quarter. TotalEnergies also confirmed its commitment to shareholder returns, announcing a third interim dividend of EUR 0.90 per share and authorizing $2.5 billion in share buybacks for the coming quarters. Investments remain on track with a $15 billion annual guidance, supported by the execution of key projects such as the Cronos field in Cyprus and the Umm Shaif Gas Cap in the UAE.
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