TotalEnergies generates $6.03 billion in profit, up 68%

• TotalEnergies reported second-quarter adjusted net income of $6.03 billion, up about 68% from the previous year.
• The company reduced net debt by $3.3 billion, declared a €0.90 dividend and maintained $1.5 billion in quarterly buybacks.
• Oil and gas production reached 2.395 million barrels of oil equivalent daily despite disruptions affecting Middle East output.

TotalEnergies (NYSE:TTE) reported second-quarter adjusted net income of $6.03 billion, up about 68%, as energy prices and refining margins increased.

Adjusted profit increased from $3.58 billion last year and $5.39 billion in Q1, while adjusted EBITDA reached $13.18 billion.

Production reached 2.395 Mboe/d, as project ramp-ups partly offset average Middle East production losses of 210 kboe/d.

Following the announcement, TotalEnergies' share price was up 3.3% at $81.39.

Exploration and Production generated $3.23 billion in adjusted operating income and $5.78 billion in cash flow excluding working-capital changes.

Elsewhere, TotalEnergies reduced net debt by $3.3 billion, declared a €0.90 interim dividend and authorized up to $1.5 billion in Q3 buybacks.