道达尔能源(TTE.US)削减回购控债务 Q3利润符合预期

Core Viewpoint - TotalEnergies (TTE.US) reported third-quarter profits in line with analyst expectations, driven by increased oil and gas production and stronger refining margins, despite a decline in prices [2] Financial Performance - Adjusted net profit for Q3 decreased by 2.3% to $3.98 billion, meeting average expectations [2] - Revenue for Q3 was $43.84 billion, down 7.6% year-on-year, and $510 million below expectations [2] - Cash flow from operating activities for Q3 was $8.349 billion, compared to $7.061 billion in the same period last year, aided by a $1.3 billion positive contribution from working capital [2] Production and Market Conditions - Oil and gas production increased by over 4% year-on-year, with total production at 2.51 million barrels of oil equivalent per day [2] - The company noted that lower oil prices compared to the previous year were due to concerns over oversupply from OPEC+ and other countries, alongside weak European petrochemical demand [2] Debt Management and Asset Disposals - TotalEnergies reduced its spending and share buyback plans to manage debt amid rising concerns from investors [2] - Net debt decreased from $26 billion at the end of June to $24.6 billion by the end of September [3] - The company expects total asset disposals of $2 billion in Q4, including divestitures in Nigeria, Norway, and renewable energy assets in North America and Greece [3][4] Future Outlook - The company anticipates maintaining its annual net investment guidance between $17 billion and $17.5 billion, based on internal investments and expected asset disposals [3] - Refining margins are expected to remain above $50 per ton in Q4 2025, driven by low diesel supply and inventory levels [3] - The debt ratio at the end of Q3 was 17.3%, projected to decrease to 15% to 16% by year-end [4]