TotalEnergies SE (NYSE:TTE) shares are trading higher on Wednesday. The company reported fourth-quarter adjusted EPS of $1.90, beating the consensus of $1.84.
Sales of $52.51 billion topped the consensus of $42.77 billion. Hydrocarbon production rose 1% quarter over quarter (Q/Q) to 2,427 kboe/d in the quarter, leading to a production of 2,434 kboe/d in 2024.
Apart from this, the company witnessed a 1% Q/Q production decline in Exploration & Production and an increase of 6% Q/Q in Integrated LNG businesses.
Adjusted operating income fell 7% Q/Q to $2.31 billion in Exploration & Production, up 35% Q/Q to $1.43 billion in Integrated LNG, up 19% Q/Q to $575 million and rose 32% Q/Q to $318 million in Refining & Chemicals segments.
Adjusted EBITDA in the quarter stood at $10.5 billion, up 5% sequentially. Operating cash flow stood at $12.5 billion, an increase of 74% Q/Q.
TotalEnergies plans to propose a 3.22 euro per share dividend for FY 2024 at the May 23, 2025 meeting, a 7% increase from 2023. TotalEnergies repurchased 32.9 million shares for cancellation in the fourth quarter of 2024 for $2 billion.
Outlook: For the first quarter of FY25, the company anticipates hydrocarbon production of 2.5 and 2.55 Mboe/d.
In 2025, the company expects hydrocarbon production to grow over 3%, driven by the ramp-up of 2024 start-ups and new production, including Ballymore in the Gulf of Mexico and Mero-4 in Brazil.
The company anticipates the average LNG selling price to be above $10/Mbtu in the first quarter of 2025. TotalEnergies projects more than 40 Mt of LNG sales in 2025.
The company expects a 5% energy production increase in 2025, with Integrated Power comprising 10% of hydrocarbons. For FY25, the company expects net investments of $17 billion to $17.5 billion.
Investors can gain exposure to the stock via Octane All-Cap Value Energy ETF (NASDAQ:OCTA).
Price Action: TTE shares are up 2.03% at $60.39 at the last check Wednesday.
Read Next:
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.