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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Total SE    FP   FR0000120271

TOTAL SE

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Total 2Q Adjusted Profit Ahead of Views, Boosted by Trading -- Earnings Review

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07/30/2020 | 09:04am EDT

By Giulia Petroni

 

Total SE reported second-quarter results earlier on Thursday. Here's what we watched:

 

PROFIT: The French energy major posted a quarterly loss of $8.37 billion from a profit of $2.76 billion in the year-earlier period.

On an adjusted basis, profit came in at $126 million, ahead of analysts expectations of a loss of $461 million, according to FactSet.

 

PRODUCTION: Hydrocarbon production for the quarter was 2.85 million barrels of oil equivalent a day, 4% lower on year mainly due to OPEC+ production restraints. For the full year, production is expected in the range of 2.9 million and 2.95 million barrels daily.

 

WHAT WE WATCHED:

 

-IMPAIRMENTS: Total said it booked exceptional impairments totaling $8.1 billion as it lowered price assumptions for the coming years and slashed the value of some of its oil-and-gas assets. The gearing level is expected to rise by 1.3% because of the lower asset values.

-DIVIDEND: The company maintained its second interim dividend for 2020 at EUR0.66 a share and reaffirmed its sustainability in a $40 a barrel Brent environment.

-TRADING: Trading activities outperformed in the quarter, offsetting the effects of lower demand and historic price lows. The company didn't disclose exactly how much trading operations made, but said the performance was able to drive a positive adjusted income result, solid cash flow and gearing under control.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 1.44% 45.18 Delayed Quote.-31.89%
TOTAL SE 0.67% 34.42 Real-time Quote.-30.51%
WTI 1.89% 42.36 Delayed Quote.-31.52%
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Financials (USD)
Sales 2020 126 B - -
Net income 2020 -1 591 M - -
Net Debt 2020 38 954 M - -
P/E ratio 2020 -126x
Yield 2020 7,78%
Capitalization 105 B 106 B -
EV / Sales 2020 1,14x
EV / Sales 2021 0,98x
Nbr of Employees 107 776
Free-Float 92,4%
Chart TOTAL SE
Duration : Period :
Total SE Technical Analysis Chart | MarketScreener
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Technical analysis trends TOTAL SE
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Average target price 49,54 $
Last Close Price 40,13 $
Spread / Highest target 68,6%
Spread / Average Target 23,5%
Spread / Lowest Target -22,9%
EPS Revisions
Managers
NameTitle
Patrick Pouyanné Chairman & Chief Executive Officer
Jean-Pierre Gerard Claude Sbraire Chief Financial Officer
Marie-Noelle Semeria Group Chief Technology Officer & Senior VP
Patrick Artus Independent Director
Marie-Christine Coisne-Roquette Lead Independent Director
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PETRÓLEO BRASILEIRO S.A. - PETROBRAS-23.53%56 390