TotalEnergies' Contained No Major Surprises -- Market Talk
Dow Jones04-15
0749 GMT - TotalEnergies' first-quarter update was largely in line with expectations, Jefferies analysts Giacomo Romeo and Kai Ye Loh write. Adjusted net operating income for the quarter should be in line with consensus expectations of $5.2 billion as better volumes and utilization rates are offset by a lower contribution from refining and chemicals division, they write. Meanwhile, the French oil and gas company might have to take on more debt to cover a large $4 billion to $5 billion seasonal increase in working capital, they add. Shares trade up 0.2% at 50.33 euros.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 03:49 ET (07:49 GMT)
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