0817 GMT - France's TotalEnergies is prioritizing cutting net debt over higher distributions, RBC Capital Markets analyst Biraj Borkhataria writes. Its flat $1.5 billion quarterly share buyback comes as net debt falls $3.3 billion on the prior quarter. The company uses higher cash generation and a working capital release to pay the debt, he adds. Overall, net income is in line with expectations, while the marketing business seems to have had one of its strongest quarters in recent history, he adds. Shares rise 2.6% to 76.24 euros. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
July 23, 2026 04:18 ET (08:18 GMT)
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