TotalEnergies is expected to report Q3 2026 consensus revenue of $55.39 billion and earnings of $4.11 per share, as the stock trades at $93.76, slightly exceeding the consensus analyst price target of $92.71.
Investors are primarily focused on the dramatic expansion of European refining margins, which are forecasted to hit $33.2 per barrel, representing a nearly fourfold increase from the prior year.
This profitability is supported by hydrocarbon production growth of over 4% year-over-year, reaching an estimated 2.475 million barrels of oil equivalent per day. Heightened geopolitical risk in the Middle East and a 20% spike in average LNG pricing are also expected to drive an exceptional $2 billion increase in refining and chemicals cash flow.