TotalEnergies SE (LSE:TTE) reported a 51% quarter-on-quarter increase in adjusted net income to $9.10 billion for the third quarter of 2026, compared with $6.03 billion in the preceding quarter. The French energy company attributed the increase to higher European refining margins and natural gas prices.
The group also authorised share repurchases of $2.50 billion for each of the fourth quarter of 2026 and the first quarter of 2027, while confirming its third interim dividend for the financial year.
Third-Quarter Adjusted Earnings Increase 51%
TotalEnergies reported adjusted net income of $9.10 billion for the three months ended September 30, 2026, up from $6.03 billion in the second quarter.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 35% to $17.81 billion, compared with $13.18 billion in the previous quarter.
Net income attributable to TotalEnergies shareholders rose 52% to $8.26 billion, from $5.44 billion in the second quarter.
Chief Executive Patrick Pouyanné referred to the market conditions affecting the group’s quarterly performance, stating:
“In a high-price environment characterized by historic refining margin levels and a bull gas market,”
The company identified European refining margins and natural gas prices as factors contributing to the increase in quarterly earnings.
Operating Cash Flow Rises 25% to $12.26 Billion
TotalEnergies reported cash flow from operations excluding working capital of $12.26 billion in the third quarter, representing a 25% increase from $9.80 billion in the preceding three months.
The increase accompanied higher adjusted EBITDA and net income during the reporting period.
The group’s gearing ratio declined to 9.1% at September 30, 2026, compared with 13.1% at June 30, 2026.
The reduction reflected a lower reported gearing level at the end of the third quarter.
European Refining Margins Increase to $33.2 per Barrel
The European Refining Margin Marker reached $33.2 per barrel during the third quarter, compared with $13.5 per barrel in the second quarter.
The increase coincided with higher refinery processing volumes across TotalEnergies’ operations.
Total refinery throughput rose to 1.56 million barrels per day, from 1.43 million barrels per day in the preceding quarter, representing an increase of approximately 9.1%.
The company reported that higher refining margins contributed to its quarterly earnings performance.
Hydrocarbon Production Reaches 2.47 Million Barrels per Day
TotalEnergies reported hydrocarbon production of 2.47 million barrels of oil equivalent per day during the third quarter of 2026.
This represented a 3% increase from the 2.40 million barrels of oil equivalent per day recorded in the second quarter.
The production increase occurred alongside higher refining throughput and the rise in natural gas prices reported by the company.
TotalEnergies Authorises $2.50 Billion in Quarterly Share Buybacks
The board of directors authorised share repurchases of $2.50 billion for the fourth quarter of 2026 and a further $2.50 billion for the first quarter of 2027.
The authorisations cover two consecutive quarters and represent a combined $5.00 billion in planned share repurchases.
TotalEnergies also confirmed a third interim dividend of €0.90 per share for the 2026 financial year.
The dividend represents an increase of 5.9% compared with the corresponding payment for 2025.
The shareholder distribution announcements accompanied the company’s third-quarter results, which included higher adjusted earnings, operating cash flow and hydrocarbon production compared with the preceding quarter.
More About TotalEnergies
TotalEnergies SE (LSE:TTE) (EU:TTE) is a French integrated energy company with activities spanning oil and natural gas production, refining and other energy operations.
Its financial and operational performance is measured through indicators including adjusted net income, adjusted EBITDA, operating cash flow, hydrocarbon production, refining margins and refinery throughput.
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