TotalEnergies(US:TTE) Jing Ji Guan Cha Wang·2026-02-11 21:30Core Viewpoint - TotalEnergies (TTE.US) reported a Q4 2025 adjusted net profit of $3.8 billion, a 13% year-over-year decline, slightly below market expectations [1][2] Financial Performance - Adjusted net profit was $3.8 billion, down 13% year-over-year, slightly below analyst consensus of $3.9 billion [2] - Refining and chemicals segment profits surged 215% to $1 billion, driven by increased refining margins in Europe [2] - Oil and gas production increased by 5%, but exploration segment profits fell 21.6% to $1.8 billion due to a 15% drop in Brent crude prices and an 18% decline in LNG prices [2] Capital Movements - The company plans to repurchase $750 million in shares in Q1 2026, a 50% reduction from $1.5 billion in Q4 2025, at the lower end of previous guidance [3] - Quarterly dividend remains stable at €0.85 per share, with no adjustments made [3] Financial Condition - The company emphasized improving cash flow through asset disposals, but debt pressure remains [4] - As of Q3 2025, net debt stood at $24.6 billion, with a leverage ratio of 17.3% [4] - The 2026 budget is based on a conservative assumption of $60 per barrel for Brent crude, with potential adjustments to the repurchase plan based on oil prices [4] Industry Context - TotalEnergies is the last major European oil and gas producer to report quarterly results, following weak performances from Shell and BP due to low oil prices and declining refining margins [5]