TotalEnergies Beats Q1 Profit Forecast Despite Lower Natural Gas Prices

TotalEnergies (NYSE: TTE) saw its first-quarter adjusted net income drop by 22% from a year ago, but the French supermajor’s adjusted earnings beat the consensus estimate. Stable oil prices and healthy refining margins failed to fully offset a decline in natural gas prices, but helped TotalEnergies beat analyst forecasts as it reported Q1 earnings on Friday. The company announced additional share buybacks and an increase in the first interim dividend for 2024. TotalEnergies posted an adjusted net income of $5.1 billion for the first…