TotalEnergies will increase its interim first-quarter dividend after posting a strong gain in earnings, supported by higher oil prices , improved margins and intense trading activity in crude and LNG.
Adjusted profit exceeded market expectations
The French company reported adjusted net profit of $5.4 billion in the first quarter of 2026. The figure represents growth of nearly 30% compared to the same period of the previous year and an improvement of 41% compared to the fourth quarter of 2025.
Furthermore, the result exceeded the average analyst forecast of $4.98 billion. This performance led the board of directors to approve a 5.9% increase in the interim dividend, to €0.90 per share.
TotalEnergies explained that the growth was linked to the rebound in oil prices toward the end of the quarter and the contribution of its trading activities. In that scenario, the volatility of the energy market worked in favor of its integrated oil, gas, and electricity model.
TotalEnergies boosts results with LNG and crude oil trading
On the other hand, the integrated LNG business showed a marked improvement. Liquefied natural gas sales grew 16% year-on-year, reaching 12.4 million metric tons, boosted by increased production and trading activity in a more volatile market.
Similarly, the exploration and production division reported adjusted net operating profit of $2.6 billion. Cash flow from this area reached $4.6 billion, representing increases of 43% and 26% compared to the previous quarter.
The refining and chemicals segment also contributed to the financial performance. Its results reflected improved refining margins in March and a greater contribution from crude oil and refined product trading .
Production offset the impact in the Middle East
Meanwhile, TotalEnergies’ oil and gas production averaged 2.553 million barrels of oil equivalent per day during the quarter. The company maintained its volumes despite disruptions related to the conflict in the Middle East.
The company had warned that the war affected assets representing approximately 15% of its global production. However, organic growth of 4% and the launch of new projects helped offset those losses.
Projects supporting production included operations in Brazil and Libya, along with increases in other markets. Middle East-related losses averaged approximately 100,000 barrels of oil equivalent per day during the quarter.
Share buybacks and higher shareholder returns
In addition to the dividend increase, TotalEnergies confirmed the continuation of its share buyback program for up to $1.5 billion in the second quarter. The company also maintained its goal of distributing more than 40% of its earnings this year.
Patrick Pouyanné, the company’s chief executive officer, noted that these decisions are supported by strong cash flow generation and the ability to maintain a robust balance sheet.
With this result, TotalEnergies joins other major energy companies that have exceeded market expectations in a quarter marked by higher prices, geopolitical disruptions and increased trading activity in hydrocarbons.
Source: Oil Price
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