Group 1 - TotalEnergies (TTE) is a French energy company specializing in petroleum extraction and refining, and it is the third largest non-OPEC producer globally, producing 1.6 million barrels per day (mmbbl/d) of liquids [1] - The company is involved in various aspects of the energy sector, indicating a diversified approach to energy production and management [1] Group 2 - The article does not provide any specific financial data or performance metrics related to TotalEnergies [1]

Core Insights - TotalEnergies SE reported third-quarter 2024 operating earnings of $1.74 per share, missing the Zacks Consensus Estimate of $1.84 by 5.4%, and reflecting a 33.8% decline from the previous year's $2.63 per share due to lower refining margins and decreased oil prices [1] Financial Performance - Total revenues for the third quarter were $47.43 billion, down 12.8% from $54.41 billion in the same quarter last year [2] - Net operating income was $4.64 billion, a decrease of 31.9% year over year, attributed to lower refining margins [7] - Cash and cash equivalents as of September 30, 2024, were $25.67 billion, compared to $24.73 billion a year earlier [11] Production and Operations - Hydrocarbon production averaged 2,409 thousand barrels of oil equivalent per day, down 2.7% year over year, influenced by security-related disruptions in Libya and a natural gas decline [3] - Liquid production averaged 1,466 thousand barrels per day, down 6.1% year over year, while gas production increased by 3.5% to 5,093 thousand cubic feet per day [4] Pricing and Margins - The realized price for Brent crude fell 7.4% to $80.3 per barrel from $86.7 a year ago, while the average realized liquid price decreased by 2.4% to $77 per barrel [5] - Realized gas prices increased by 5.7% year over year to $5.78 per thousand British thermal units [5] Segment Performance - Exploration & Production's operating earnings were $2.48 billion, down 20.9% from $3.14 billion in the prior year [9] - Integrated LNG's operating income was $1.06 billion, down 20.8% from $1.34 billion [9] - Refining & Chemicals' operating income plummeted 82.8% to $0.24 billion from $1.40 billion in the previous year [9] Strategic Initiatives - TotalEnergies is focusing on a multi-energy strategy, emphasizing renewable energy, and has commenced production from high-margin projects in the U.S. and Argentina [6] - The company aims for a production growth target of 3% per year through 2030, supported by new projects [6] Shareholder Returns - The company repurchased 29.3 million shares for $2 billion in the third quarter and a total of 88.1 million shares for $6 billion in the first nine months of 2024 [8] Guidance - TotalEnergies expects fourth-quarter 2024 hydrocarbon production to be in the range of 2,400-2,450 thousand barrels of oil equivalent per day, considering the end of disruptions in Libya and the start-up of the Mero-3 project in Brazil [12]

Financial Data and Key Metrics Changes - The company reported adjusted net income of $4.1 billion for Q3 2024 and $13.9 billion for the first nine months of the year, with a return on average capital employed of 14.6% [5][18] - The European refining margin marker decreased by 66% quarter-to-quarter, falling below the breakeven level of $25 per ton [5][14] - Brent crude oil prices decreased by 5% quarter-to-quarter, averaging $80 per barrel, while the average LNG price decreased by 6% [5] Business Segment Data and Key Metrics Changes - Hydrocarbon production for oil and gas was 2.41 million barrels of oil equivalent per day, within the guidance range [6] - Adjusted net operating income for integrated LNG was $1.1 billion in Q3, reflecting lower LNG production and gas trading performance [9] - Integrated Power's adjusted net operating income was close to $0.5 billion for Q3, totaling $1.6 billion year-to-date, up 21% year-on-year [11] Market Data and Key Metrics Changes - LNG sales increased by 8% quarter-to-quarter due to seasonal inventory replenishments, while hydrocarbon production for LNG decreased by 7% [9] - The company anticipates an average LNG selling price of around $10 per million BTU for Q4 2024, slightly higher than the previous quarter [10] Company Strategy and Development Direction - The company aims for a balanced strategy focusing on both hydrocarbons and integrated power, emphasizing cost discipline and a strong balance sheet [4] - The GranMorgu project in Suriname was sanctioned, expected to contribute to medium-term production growth of 3% per year through 2030 [8] - The company is enhancing its integration along the gas value chain by acquiring low-cost upstream dry gas supply in Texas [10] Management's Comments on Operating Environment and Future Outlook - Management noted a challenging environment with deteriorating refining margins and emphasized the importance of maintaining a low breakeven portfolio [5][4] - The company remains moderately optimistic about refining margins improving in the future, despite current challenges [39] - Management highlighted the importance of cash flow generation and indicated that the company is on track to meet its guidance for the year [36] Other Important Information - The company reported $1.1 billion in negative adjustments to net income related to impairments, primarily linked to the bankruptcy of SunPower [16] - A working capital release of $2 billion is anticipated for Q1 2024, following a release of $0.4 billion in Q3 2024 [17] Q&A Session Summary Question: Cash flow concerns and Argentina plans - Management acknowledged a lag effect on cash flow due to timing issues with dividends and indicated that cash flow is expected to align with expectations [21][23] - Regarding Argentina, management stated that investment decisions depend on the ability to repatriate dividends, and they are evaluating options in the region [24][25] Question: Updates on Uganda and Mozambique projects - The Uganda project is progressing as planned, with production expected to start by mid-2026 [27] - In Mozambique, stability in the political environment is crucial for project restart, and management is working on financing aspects [28][30] Question: Refining margins and LNG capacity delays - Management expressed moderate optimism about refining margins improving, despite current low levels [39] - The anticipated wave of LNG capacity is expected to begin in 2027, with no significant additional supply expected in 2025 [46][48] Question: Renewable energy partnerships and acquisitions - Management confirmed successful negotiations with RWE for offshore wind projects and emphasized a preference for organic growth over acquisitions [51][55] Question: Refining portfolio and potential asset rationalization - Management indicated that while the breakeven is $25, they are not considering economic run cuts at this time, focusing instead on optimizing asset use [59][60] - The company is prepared to transform refineries based on structural weaknesses rather than current market conditions [68]

Exhibit 99.1 OPERATING AND FINANCIAL REVIEW AND PROSPECTS The terms "TotalEnergies", "TotalEnergies company" and "Company" in this exhibit are used to designate TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE. The financial and extra-financial information on pages 1-24 of this exhibit relating to TotalEnergies with respect to the third quarter of 2024 and nine months ended September 30, 2024 has been derived from TotalEnergies' unaudited consolidated bala ...

Core Viewpoint - TotalEnergies SE is expected to report its third-quarter 2024 earnings on October 31, with a negative earnings surprise of 6.16% in the previous quarter [1] Earnings Expectations - The company anticipates production volume between 2.4-2.45 thousand barrels of oil equivalents per day, influenced by the start-up of the Anchor project in the Gulf of Mexico [3] - The Zacks Consensus Estimate for earnings is $1.84 per share, and for revenues, it is $57.03 billion, indicating a decline of 30.04% in earnings and 3.37% in revenues compared to the same quarter last year [3] Strategic Factors - TotalEnergies is actively making strategic acquisitions and divestments to align with long-term objectives, which is expected to enhance third-quarter performance [4] - The company is focusing on new oil and gas projects set to commence in 2024, which are anticipated to improve cash margins and overall performance [5] - TotalEnergies is strengthening its position in natural gas, liquefied natural gas, and low-carbon electricity, contributing positively to earnings [5] Competitive Landscape - The company faces competition from major oil and gas players like ExxonMobil, Shell, and Chevron, which complicates the acquisition of hydrocarbon assets and licenses [6] - The competitive environment is intensified as these operators also engage in renewable energy initiatives [6]

TotalEnergies SE (TTE) announced that it has signed an agreement with RWE to acquire a 50% stake in two offshore wind projects in the North Sea. With this new alliance, TotalEnergies will be able to supply green electrons to help decarbonize the nation's electricity and industry, furthering RWE's integrated growth in the largest electricity market in Europe and Germany. Key Highlights of TTE's New Deal The two projects, N-9.1 of nearly 2 gigawatt (GW) and N-9.2 of 2 GW, located 68 miles (110 km) off the Ger ...

Core Viewpoint - TotalEnergies SE (TTE) has unveiled its long-term strategy focusing on a balanced multienergy approach, emphasizing the transition towards renewable energy sources while maintaining its presence in oil and gas markets [1] Group 1: Energy Production and Strategy - TotalEnergies plans to increase global energy production by 4% annually from 2024 to 2030, primarily driven by LNG, reflecting a 100 basis point improvement from previous forecasts [2] - The company has mitigated its LNG exposure to spot gas prices by securing long-term sales contracts indexed to Brent and enhancing upstream gas production in the U.S. through low-cost acquisitions [3] Group 2: Clean Energy Initiatives - TTE aims for electricity generation to exceed 100 TWh by 2030, with 70% from renewable sources and 30% from flexible-based generation [4] - The company is committed to achieving net-zero carbon emissions by 2050, with a development portfolio of 35 GW by 2025, of which over 20 GW has long-term power purchase agreements [5] Group 3: Financial Outlook and Investments - TotalEnergies plans to invest $16-$18 billion annually from 2025 to 2030, allocating nearly $5 billion to low-carbon energies, with the flexibility to reduce investments by $2 billion in case of commodity price drops [6] - The company expects to generate over $10 billion in free cash flow by 2030, which will be used for share buybacks and dividend payments [7] Group 4: Shareholder Returns - TTE intends to repurchase $8 billion in shares in 2024 and $2 billion quarterly thereafter, contingent on market conditions, while planning to increase dividends per share by at least 5% based on 2024 buybacks [8] Group 5: Industry Trends - The energy sector is increasingly focused on emission reduction, with companies like ExxonMobil, BP, and Chevron also adopting measures to lower their carbon footprints [9] - ExxonMobil aims for net-zero Scope 1 and 2 emissions by 2050 through electrification and technology upgrades [10] - BP's acquisition of Lightsource BP highlights its commitment to expanding its low-carbon energy footprint, while Chevron targets a 57% reduction in methane emissions by 2028 [11] Group 6: Market Performance - TotalEnergies shares have increased by 11.5% over the past year, outperforming the industry growth of 10.4% [12]

TotalEnergies SE (TTE) announced that it has started commercial operations of Danish Fields and Cottonwood, two utility-scale solar farms (located in southeast Texas) with integrated battery storage. These new projects, with a combined capacity of 1.2 gigawatts (GW), are part of a portfolio of renewable assets totaling 4 GW in operation or under construction in Texas. In the rapidly expanding Electric Reliability Council of Texas ("ERCOT") market, the start-ups of Danish Fields and Cottonwood demonstrate To ...

TotalEnergies SE (TTE) , along with its partners Equinor ASA (EQNR) and Shell plc (SHEL) , announced the completion of the carbon dioxide (CO2) receiving and storage facilities of Northern Lights Joint-Venture in Norway. Prospects for TTE's Project The facilities include a subsea injection facility for safe and permanent CO2 storage in a reservoir 2,600 meters below the seabed, a terminal to accept CO2 cargos, and a nearly 62-mile (100-kilometer) subsea pipeline to deliver CO2 to the offshore storage site. ...

Jeremy Poland TotalEnergies SE (NYSE:TTE) is so far staying consistent with the plan they gave shareholders before the fiscal year really got going. The last article mentioned that some big projects were heading towards production. Those remain largely on schedule. As a diversified growth and income play, this company remains a darn good idea. The Strategy The strategy does involve some diversification into renewables and even power generation. This company appears to have a pretty tight profit handle on th ...