Earnings Beat, Cash Flow Heat: Mixed Quarter For TotalEnergies
Portfolio Pulse from Lekha Gupta
TotalEnergies SE (NYSE:TTE) reported a mixed quarter with an adjusted EPS of $2.14, down 18% Y/Y but beating consensus estimates. Hydrocarbon production slightly fell, and adjusted operating income and EBITDA saw declines across segments. The company announced a dividend increase, a share repurchase program, and anticipates stable production and refinery utilization rates for the next quarter. TotalEnergies also acquired a 50% stake in SapuraOMV Upstream Sdn for $530 million. Investors can gain exposure to TTE through EIPX and KEAT ETFs. TTE shares are down 0.41% in premarket trading.
April 26, 2024 | 12:08 pm
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NEUTRAL IMPACT
Investors can gain exposure to TotalEnergies SE through the First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF, which may see impacts from TTE's performance.
As an ETF that includes TTE, EIPX's performance may be indirectly influenced by TotalEnergies' financial results and strategic decisions, though diversified holdings may mitigate direct impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The Keating Active ETF, which provides exposure to TotalEnergies SE, could be affected by TTE's quarterly performance and strategic initiatives.
Given KEAT's exposure to TTE, the ETF's performance may reflect TotalEnergies' recent financial outcomes and future outlook, albeit the impact may be diluted due to its diversified nature.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
TotalEnergies SE reported a mixed quarter with an EPS beat, operational declines, a dividend increase, and a significant acquisition. The company remains optimistic about future production and refinery utilization.
Despite the mixed operational performance, the EPS beat, dividend increase, and strategic acquisition signal a potentially stable outlook. However, the premarket stock dip suggests a cautious market reaction.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100