0841 GMT - TotalEnergies' first-quarter results were in line with expectations but the material jump in net debt exceeded expectations, RBC Capital Markets analysts Biraj Borkhataria and Adnan Dhanani write. Over the quarter, net debt--based on RBC's definition, which excludes leases--jumped to $21 billion from $11.9 billion at the end of last year, and exceeded the $17.4 billion the analysts had expected. A working capital build-up partly drove the increase but around $1 billion of exceptional items also affected debt, they write. Shares trade down 4% at 50.22 euros.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
April 30, 2025 04:41 ET (08:41 GMT)
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