TotalEnergies earnings date and guidance
MyStockButler's October 2026 analysis: TotalEnergies' next results are expected on October 29, 2026. Watch whether cash improves after excluding the temporary working-capital release.
What has TotalEnergies guided for 2026?
For 2026, management targets oil and gas production growth of 3.0%. It also targets electricity production growth of 25.0% and net investment of US$15 billion. Integrated Power, its electricity business, is expected to generate at least US$3 billion of operating cash flow while reaching zero free cash flow. Operating cash is money from daily business; free cash flow is what remains after investment. A shop can earn money and spend it all building a second shop, just as Integrated Power can generate cash while funding new plants and batteries.
The September decisions add buybacks, dividend growth and a gearing target below 10.0%. Gearing measures net debt against net debt plus shareholders’ equity. Management also plans annual net capital expenditure of US$14–17 billion from 2027 through 2032. Growth, shareholder payments and debt reduction therefore compete for the same cash.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Oil and gas production growth (%) | Year to Dec 2026 | 3.0% | 3.0% | Jul 23, 2026 |
| Net investments (US$ billions) | Year to Dec 2026 | 15 | 15 | Jul 23, 2026 |
| Integrated Power cash flow (US$ billions) | Year to Dec 2026 | 3 | Feb 11, 2026 | |
| Electricity production growth (%) | Year to Dec 2026 | 25.0% | 25.0% | Feb 11, 2026 |
| Gearing ratio (%) | Year to Dec 2026 | 10.0% | Sep 28, 2026 |
What this means. The company’s net investments figure is not the same as cash capital spending because it also includes acquisitions and asset sales.
Has TotalEnergies kept its past promises?
The promise record is mixed, earning a 2/5 assessment. Hydrocarbon production has been more dependable than LNG sales or power production, while restrictions, security interruptions and weak gas-plant dispatch explain only part of the shortfalls.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Hydrocarbon production | 5 years | 1 | 2 | 2 |
| LNG sales | 4 years | 1 | 0 | 3 |
| Net power production | 4 years | 1 | 0 | 3 |
What this means. The report says promises kept two out of five even though the table checks thirteen forecasts, so it is unclear what the five refers to.
How have TotalEnergies' revenue and profit trended?
The record of beating analysts is difficult to interpret. One scorecard recorded earnings-per-share beats in three of the latest eight quarters. It also recorded a miss in the second quarter of 2026, while another measure described that quarter’s US$6 billion adjusted net income as meeting expectations. The result depends on which panel and definition an analyst uses.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 57,097 | 49,516 | 45,925 | 43,844 | 44,676 | 47,899 | 47,115 | 47,429 |
| Net income | 5,438 | 5,810 | 2,906 | 3,683 | 2,687 | 3,851 | 3,956 | 2,294 |
| EPS, diluted | 2.41 | 2.64 | 1.30 | 1.64 | 1.17 | 1.68 | 1.70 | 0.96 |
What this means. Interest paid is blank because the company includes it in cash from operations instead of showing it separately.
What should TotalEnergies watchers look for next?
Third-quarter results are scheduled for October 29, 2026. Management expects hydrocarbon production of 2.45–2.50 million barrels of oil equivalent a day. It also expects a 5.0% production impact from the Middle East conflict and Integrated Power cash flow of US$750–800 million. The key test is whether cash improves after excluding the temporary working-capital release.