TotalEnergies increases quarterly profit to $9.1 billion — OilPrice

French energy company TotalEnergies posted $9.1 billion in adjusted net income in the third quarter of 2026. This is 51% higher than in the second quarter, when the company earned $6 billion, and 127% higher than the $4 billion recorded in the third quarter of 2025, OilPrice reports.

Result exceeds expectations

TotalEnergies' financial result exceeded analysts' average forecast of $8.3 billion. The company attributed the profit growth to historically high refining margins, higher oil and gas prices, and strong oil and liquefied natural gas trading results.

TotalEnergies CEO Patrick Pouyanné said that amid high prices, record refining margins, and a growing gas market, the company leveraged its integrated business model and geographical diversification. The group's cash flow in the third quarter amounted to $12.3 billion.

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Record quarter for refining

The refining and marketing division recorded a record quarter: its adjusted net operating income reached $4.1 billion, while cash flow totaled $4.6 billion. Both figures rose by nearly $2 billion compared with the second quarter.

TotalEnergies' refining volumes increased by 10%, which, according to the company, allowed it to benefit from historically high margins in Europe and globally. The group also noted that maximum utilization of its refineries and participation in diesel fuel imports from the Middle East contribute to security of supply for Europe.

Earlier this month, TotalEnergies said that the conflict in the Middle East had raised refining margins and LNG prices. According to OilPrice, Equinor reported a threefold year-on-year increase in adjusted net income in the third quarter, while Shell reported adjusted earnings of $10.8 billion, almost twice as high as a year earlier.