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TotalEnergies third-quarter profit surges on refining income - Finance news and analysis from Global Banking & Finance Review
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TotalEnergies third-quarter profit surges on refining income

Published by Global Banking & Finance Review

Posted on October 29, 2026

2 min read

· Last updated: October 29, 2026

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TotalEnergies Q3 Profit Surges 127% to $9.1B on Refining, LNG Gains

Third-Quarter Earnings Driven by Refining and LNG Performance

Oct 29 (Reuters) - French oil major TotalEnergies reported a 127% rise in third-quarter earnings on Thursday, beating expectations, as the US-Israeli war with Iran continues to push up oil prices and draw historically high profit margins for refining fuels.

Financial Highlights

Adjusted net income came in at $9.1 billion in the July-September period, more than double the $4.0 billion posted a year ago, and above the $8.3 billion expected on average by 12 analysts polled by LSEG.

Refining and Chemicals Division

The group's refining and chemicals division reported a record quarter, posting net income of $3.6 billion, doubling from a year ago, as it profited from tight global supply of oil products following the Iran war.

Refining Margins and Trading Activities

"The increase of nearly 10% refining throughput enabled the company to fully capture historically high refining margins in Europe and worldwide, while oil trading activities outperformed at a level comparable with the two previous quarters," CEO Patrick Pouyanne said in a statement.

LNG Unit Performance

The LNG unit also saw income surge to $1.9 billion, thanks to average gas prices that are up 20% and strong performance of LNG and gas trading activities in a bull market, said the company.

Share Buyback Plans

It reiterated plans for share buybacks of $2.5 billion for the fourth quarter, and said it would buy back another $2.5 billion in the first quarter of 2027, at the top end of guidance issued last month.

(Reporting by Dimitri Rhodes in Gdansk. Editing by Dominique Patton)

Key Takeaways

  • Refining & Chemicals division posted a record net income of $3.6 billion, doubling year‑on‑year as higher refining margins and 10% more throughput delivered exceptional results (investingnews.com)
  • LNG unit income surged to $1.9 billion, buoyed by a 20 % rise in average LNG prices and strong trading activity in a bullish market (investingnews.com)
  • Company confirmed $2.5 billion share buybacks in Q4 2026 and plans another $2 billion–$2.5 billion in Q1 2027, alongside a dividend growth policy of over 5 % per year through 2030 (lse.co.uk)

References

Frequently Asked Questions

What caused the surge in TotalEnergies' third-quarter profit?
The profit surge was driven by high oil prices, strong refining margins, and increased income from LNG and trading activities.
How much was TotalEnergies' adjusted net income in Q3?
TotalEnergies reported an adjusted net income of $9.1 billion in the third quarter.
What contributed to the record performance in refining and chemicals?
Tight global supply of oil products and increased refining throughput enabled TotalEnergies to capture high refining margins.
What are TotalEnergies’ plans regarding share buybacks?
The company plans share buybacks of $2.5 billion for Q4 and another $2.5 billion in Q1 2027.
How did the LNG unit perform in the third quarter?
LNG income rose to $1.9 billion, boosted by a 20% increase in average gas prices and strong trading activities.

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