Analyst Consensus ?
ConsensusBuy34 ratings
Bullish2058.8%
Neutral1338.2%
Bearish13.0%
TotalEnergies SE · TTE · FY2026 Q2 · Calendar Q3 2026
TotalEnergies posts strong Q2 as power and upstream growth offset risks
The quarter supports a constructive but conditional view of TotalEnergies: resilient upstream and integrated-power growth, diversified LNG projects, and disciplined capital allocation strengthen the outlook, while geopolitical, sanctions, trading, and project-execution risks remain material.
Reported Before market openNYSEEnergy
$212.79B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.68
Consensus $2.66
EPS surprise
+0.8%
Reported versus consensus
Reported revenue
$57.10B
Consensus $55.13B
Revenue surprise
+3.6%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.6%
Event window
SPY move
-1.2%
Same window
Abnormal move
+2.8%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
+5.4%
Up to 20 sessions
TTESPY benchmark
Ask FN2 about TTE FY2026 Q2
Transcript, numbers and history already loaded
Why did TTE rise 1.6% after beating EPS estimates in FY2026 Q2?What changed in TTE's guidance and outlook in FY2026 Q2?Give me the bull and bear case for TTE after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current quarter showed stronger realized operating performance, early EPH benefits, a raised guidance sentiment, and further progress on Namibia and Mexico LNG projects. LNG trading was a relative weakness, and geopolitical and sanctions concerns became more prominent.
Guidance delta
Management’s guidance sentiment was raised, with annual net capex maintained around $15 billion and upstream production growth above prior expectations.
Key takeaways
- Q2 cash flow was near $10 billion, supported by high oil prices, downstream margins, and the EPH assets.
- Upstream production grew more than 4% year over year despite Middle East-related lift limitations.
- Integrated power generation rose 28% year over year, while LNG trading underperformed.
- Capital allocation remained disciplined, with lower gearing, a higher dividend, and continued buybacks.
Management priorities
- Advance Venus and Mopane in Namibia and progress Cronos Block 6 in Cyprus.
- Expand integrated power generation and continue LNG project development.
- Maintain capex discipline while considering opportunistic M&A.
- Diversify LNG supply and export routes.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$95.33Current
$67Low
$80.7Average
$108High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 1, 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 current price $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 |
Track every rating change on TTE the moment it posts. Free to start.
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 · 2026-07-26T16:04:04.594247+00:00
- FN2 earnings calendar · 2026-08-27T01:23:13.912278+00:00
- Polygon adjusted daily market bars · 2026-10-31T19:50:43.221993+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-31T19:50:43.219216+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 2026-10-31. For educational purposes only; not investment advice.