What was TotalEnergies' adjusted net income for Q1, and how does it compare to both the prior year and analyst expectations?

TotalEnergies' adjusted net income for the first quarter was $5.4 billion, up from $4.2 billion in the same period a year ago — a 29% increase. This result exceeded analysts' expectations of $5 billion, according to LSEG data.

What were the main drivers behind TotalEnergies' Q1 earnings growth, and what negative impact did regional conflict have on its operations?

The 29% rise in Q1 earnings was driven by strong trading performance and high oil prices caused by the Iran war; however, supply disruptions from the same conflict took approximately 15% of TotalEnergies' upstream production offline.

TotalEnergies Reports 29% Q1 Earnings Rise on High Oil Prices

Apr 28, 2026

TotalEnergies reported a 29% increase in Q1 adjusted net income to $5.4 billion, exceeding analyst expectations. The results were driven by high oil prices linked to regional conflicts, despite 15% of upstream production being offline.

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