TotalEnergies SE
TTE: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€24.00 | Jvfs | Zvwrvyy |
TotalEnergies Sees No Drop-Off in Third Quarter; Shares Undervalued
TotalEnergies reported strong third-quarter results that were modestly higher than the second quarter's despite lower oil prices and weaker refining margins, thanks to much stronger liquefied natural gas prices. Adjusted earnings of $9.9 billion slightly exceeded market expectations and soared from $4.8 billion last year. Adjusted earnings exclude a new $3.1 billion impairment charge related to the company's stake in Russia.