TotalEnergies to Report Q3 Earnings: What's in Store for the Stock?

Core Viewpoint - TotalEnergies SE is expected to report its third-quarter 2024 earnings on October 31, with a negative earnings surprise of 6.16% in the previous quarter [1] Earnings Expectations - The company anticipates production volume between 2.4-2.45 thousand barrels of oil equivalents per day, influenced by the start-up of the Anchor project in the Gulf of Mexico [3] - The Zacks Consensus Estimate for earnings is $1.84 per share, and for revenues, it is$57.03 billion, indicating a decline of 30.04% in earnings and 3.37% in revenues compared to the same quarter last year [3] Strategic Factors - TotalEnergies is actively making strategic acquisitions and divestments to align with long-term objectives, which is expected to enhance third-quarter performance [4] - The company is focusing on new oil and gas projects set to commence in 2024, which are anticipated to improve cash margins and overall performance [5] - TotalEnergies is strengthening its position in natural gas, liquefied natural gas, and low-carbon electricity, contributing positively to earnings [5] Competitive Landscape - The company faces competition from major oil and gas players like ExxonMobil, Shell, and Chevron, which complicates the acquisition of hydrocarbon assets and licenses [6] - The competitive environment is intensified as these operators also engage in renewable energy initiatives [6]