TotalEnergies Reports 68 Percent Jump in Second-Quarter Earnings

TotalEnergies SE reported a significant surge in second-quarter 2026 earnings, with adjusted net income rising 68 percent year-over-year to approximately $6 billion. Net profit doubled to $5.4 billion, up from $2.7 billion during the same period the previous year. The company attributed this growth to a high-price environment for hydrocarbons and increased refining and petrochemical margins, which pushed sales revenue up 28 percent from the previous year.

Despite production losses in the Middle East and difficulties accessing the Strait of Hormuz, the company's Exploration & Production segment posted adjusted net operating income of $3.2 billion. These losses were partially offset by organic growth of over four percent year-on-year from projects in Brazil, the United States, and Libya. Trading activities and the company's integrated business model further supported the profit increase.

In response to strong cash flow, the board of directors increased the second interim dividend to €0.90 per share and authorized share buybacks of up to $1.5 billion for the third quarter. TotalEnergies confirmed planned net investments of $15 billion for 2026 and expects third-quarter production growth to align with its 3 percent annual guidance, excluding impacts from the conflict in the Middle East.