TotalEnergies Q1 2026 Financial Results and Business Update

TotalEnergies SE reported strong first quarter 2026 results with net income of $5.81 billion, up 100% from Q4 2025 and 51% from Q1 2025. Sales reached $54.16 billion, increasing 7% quarter-over-quarter. The company achieved adjusted EBITDA of $12.55 billion, up 25% from the previous quarter. Key drivers included higher oil and gas prices, with Brent averaging $81.1/b (up 27% from Q4 2025) and strong performance across business segments. Exploration & Production delivered adjusted net operating income of $2.58 billion (+43% QoQ), while Integrated LNG reached $1.32 billion (+43% QoQ). The company maintained hydrocarbon production of 2,553 kboe/d, stable year-on-year despite a 4% negative impact from Middle East conflicts. TotalEnergies repurchased 9.4 million shares for $0.75 billion and maintained a gearing ratio of 15.5%. The company expects continued high oil prices in Q2 2026 due to Middle East conflicts and anticipates LNG selling prices around $10/Mbtu.