Analyst Consensus ?
ConsensusBuy34 ratings
Bullish2058.8%
Neutral1338.2%
Bearish13.0%
TotalEnergies SE · TTE · FY2025 Q3 · Calendar Q4 2025
TotalEnergies pairs upstream growth with stronger refining, while execution risks remain
The supplied Q3 analysis supports a cash-generation narrative led by higher production from new upstream projects and improved European refining margins. Whether that performance can be sustained depends in part on execution of asset sales and projects, market conditions, and policy and regulatory developments.
Reported Before market openNYSEEnergy
$212.79B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.77
Consensus $1.81
EPS surprise
-2.2%
Reported versus consensus
Reported revenue
$43.65B
Consensus $32.62B
Revenue surprise
+33.8%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.9%
Event window
SPY move
-1.1%
Same window
Abnormal move
+0.2%
Stock minus SPY
Volume
1.2×
Versus trailing sessions
Subsequent drift
+6.6%
Up to 20 sessions
TTESPY benchmark
Ask FN2 about TTE FY2025 Q3
Transcript, numbers and history already loaded
Why did TTE fall 0.9% after missing EPS estimates in FY2025 Q3?What changed in TTE's guidance and outlook in FY2025 Q3?Give me the bull and bear case for TTE after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the supplied Q1 analysis, the Q3 analysis emphasizes improved European refining margins and cash contribution from new high-margin upstream assets, alongside lower net investment and planned asset sales. The earlier analysis had highlighted tariff sensitivity for renewables and maintained full-year production and capex guidance; the Q3 analysis instead describes production growth plans through 2030 and a decreasing capex outlook.
Guidance delta
The supplied Q3 analysis characterizes guidance sentiment as maintained and capex outlook as decreasing. It also records a plan to sustain upstream production growth of about 3% annually through 2030; this is management's stated plan, not an independent forecast.
Key takeaways
- The analysis attributes stronger cash flow to production growth and improved European refining margins.
- Management described lower net investment in Q3 and expected a further decrease in Q4.
- Capital returns, renewable-asset sales and LNG project decisions remain important parts of the capital-allocation picture.
- The analysis identifies policy, sanctions, divestment and project-financing uncertainty as areas to monitor.
Management priorities
- Continue production growth through upstream project ramp-ups.
- Advance LNG projects and evaluate future project decisions.
- Execute renewable asset sales and other planned divestments.
- Develop enterprise AI and data initiatives for operational efficiency.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$95.33Previous close
$67Low
$80.7Average
$108High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 2, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Buy | Buy | Maintain | Oct 13, 2026 |
| JP Morgan | Neutral | Overweight | Downgrade | Sep 23, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Sep 3, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Apr 22, 2026 |
| Freedom Broker | Sell | Buy | Downgrade | Feb 13, 2026 |
| Jefferies | Buy | Hold | Upgrade | Jan 8, 2026 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | May 12, 2025 |
| Citigroup | Buy | Neutral | Upgrade | Mar 26, 2025 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 20, 2023 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jan 12, 2023 |
| Cowen & Co. | Market Perform | Market Perform | Maintain | Sep 30, 2022 |
| Bernstein | Outperform | Market Perform | Upgrade | Jun 29, 2022 |
| Deutsche Bank | Hold | Buy | Downgrade | Mar 23, 2022 |
| HSBC | Hold | Buy | Downgrade | Mar 21, 2022 |
| UBS | Buy | Neutral | Upgrade | Nov 15, 2021 |
| MKM Partners | Buy | Buy | Maintain | Jun 9, 2021 |
| Barclays | Overweight | Equal Weight | Upgrade | Mar 13, 2018 |
| Raymond James | Strong Buy | Outperform | Upgrade | Feb 13, 2018 |
| Independent Research | Buy | Hold | Upgrade | Dec 1, 2016 |
| Credit Suisse | Neutral | Outperform | Downgrade | Dec 1, 2016 |
| Canaccord Genuity | Hold | Buy | Downgrade | Apr 18, 2016 |
| Nomura | Buy | Neutral | Upgrade | Mar 18, 2016 |
| Goldman Sachs | Buy | Buy | Maintain | Mar 11, 2016 |
| Bank of America | Buy | Hold | Upgrade | Dec 9, 2015 |
| Societe Generale | Buy | Hold | Upgrade | Sep 22, 2015 |
| Scotia Howard Weil | Outperform | Sector Perform | Upgrade | Feb 23, 2015 |
| Oddo Securities | Neutral | Buy | Downgrade | May 2, 2014 |
| Natixis | Neutral | Buy | Downgrade | May 1, 2014 |
| Exane BNP Paribas | Neutral | Outperform | Downgrade | Jan 10, 2014 |
| Santander | Hold | Hold | Maintain | Nov 30, 2012 |
| Paradigm Capital | Buy | Buy | Maintain | Nov 13, 2012 |
| BMO Capital | Outperform | Outperform | Maintain | Nov 13, 2012 |
| AltaCorp Capital | Outperform | Outperform | Maintain | Nov 13, 2012 |
| Tudor Pickering | Accumulate | Buy | Maintain | Aug 24, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $95.33. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Nitin Kumar | $108 | $91.02 | +13.3% | Oct 16, 2026 |
| Morgan Stanley | Analyst unavailable | $90 | $89.25 | -5.6% | Sep 3, 2026 |
| Piper Sandler | John Royall | $93 | $90.22 | -2.4% | Sep 3, 2026 |
| Mizuho Securities | Nitin Kumar | $103 | $81.39 | +8.0% | Jul 20, 2026 |
| Wolfe Research | Doug Leggate | $83 | $67.2 | -12.9% | Jan 21, 2026 |
| Scotiabank | Analyst unavailable | $73 | $65.81 | -23.4% | Jan 16, 2026 |
| Piper Sandler | Ryan Todd | $71 | $62.74 | -25.5% | Jan 8, 2026 |
| Loop Capital Markets | Sergey Pigarev | $73 | $61.57 | -23.4% | Nov 3, 2025 |
| Piper Sandler | Analyst unavailable | $69 | $61.09 | -27.6% | Oct 20, 2025 |
| Scotiabank | Paul Cheng | $67 | $58.96 | -29.7% | Oct 9, 2025 |
| Scotiabank | Paul Cheng | $65 | $63.01 | -31.8% | Jul 11, 2025 |
| Wolfe Research | Doug Leggate | $82 | $55.68 | -14.0% | Jan 3, 2025 |
| Piper Sandler | Ryan Todd | $77 | $67.98 | -19.2% | Oct 3, 2024 |
| CFRA | Jeff Lye | $80 | $72.9 | -16.1% | Apr 4, 2024 |
| Piper Sandler | Ryan Todd | $64 | $68.4 | -32.9% | Dec 22, 2023 |
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Start freeCompany context
Snapshot as of publicationTotalEnergies SE, headquartered in Courbevoie, France, traces its origins back to its incorporation in 1924. Known as TOTAL SE until its rebranding in June 2021, it stands as a global, integrated energy powerhouse. Its extensive worldwide operations are structured across four key business segments: The Integrated Gas, Renewables & Power division encompasses the entire liquefied natural gas (LNG) value chain, from production and shipping to trading and regasification. It also actively trades various energy commodities including liquefied petroleum gas (LPG), natural gas, and electricity, alongside petcoke and sulfur. This segment is deeply involved in natural gas transportation, electricity generation from a diverse mix of sources—ranging from natural gas to wind, solar, hydroelectric, and biogas—as well as energy storage solutions and the development of biomethane facilities. Furthermore, it offers energy efficiency services.…
Historical context
All TTE earningsEnergy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CVX Chevron Corporation | FY2026 Q3 · Calendar Q4 2026 | +8.4% | +1.8% | Chevron posts strong Q3 as production, cash flow and AI value rise |
| XOM Exxonmobil Holdings Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.7% | +2.2% | ExxonMobil Highlights Refining, LNG and Cash Returns in Q3 |
| IMO Imperial Oil Limited | FY2026 Q3 · Calendar Q4 2026 | +6.4% | +5.5% | Imperial Oil: downstream strength and low-carbon growth lead Q3 |
| CCJ Cameco Corporation | FY2026 Q3 · Calendar Q4 2026 | -101.4% | -7.9% | Cameco keeps nuclear-growth thesis intact as Key Lake outage weighs |
| BP BP p.l.c. | FY2026 Q3 · Calendar Q4 2026 | +22.6% | +0.1% | BP Q3: Strong profit, lower debt, safety risks persist |
| FSLR First Solar, Inc. | FY2026 Q3 · Calendar Q4 2026 | +13.5% | -1.4% | First Solar: Margin gains offset lower volume outlook |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the TTE recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-02T08:50:43.264556+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-02T08:50:43.261739+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-02. For educational purposes only; not investment advice.