TotalEnergies SE

TTE: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€66.00	Qnnrm	Kknbkmmz

TotalEnergies Sees No Drop-Off in Third Quarter; Shares Undervalued

Allen Good

Oct 27, 2022

TotalEnergies reported strong third-quarter results that were modestly higher than the second quarter's despite lower oil prices and weaker refining margins, thanks to much stronger liquefied natural gas prices. Adjusted earnings of $9.9 billion slightly exceeded market expectations and soared from $4.8 billion last year. Adjusted earnings exclude a new $3.1 billion impairment charge related to the company's stake in Russia.

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