TotalEnergies sees drop in net income of 1% to $9.5B - Breaking The News

TotalEnergies sees drop in net income of 1% to $9.5B

25 July

1 min read

EPA-EFE/TERESA SUAREZ

TotalEnergies SE announced on Thursday its net income in the first half of the fiscal year 2024 saw an annual decline of 1% to reach $9.5 billion. In the second quarter, the figure stood at $3.8 billion.

The company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) declined by 11% compared to the first six months of 2024 to hit $22.57 billion. In the second trimester, that number came in at $11.077 billion. Its net income decreased by 7% year-on-year in the second quarter to reach $3.79 billion, and 1% to hit $9.51 in the first half of the year. The enterprise's diluted earnings per share (EPS) fell by 1% to $1.98 in the second trimester, and 10% to $4.14 in 2024's first half.

"Comforted by robust results at mid-year, in line with 2024 objectives, the Board of Directors ... authorized the Company to buy back shares for up to $2 billion in the third quarter of 2024," Chief Executive Officer (CEO) Patrick Pouyannee commented.

earnings totalenergies

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