Back to top

Image: Bigstock

TotalEnergies (TTE) to Post Q3 Earnings: What's in the Cards?

Read MoreHide Full Article

TotalEnergies (TTE - Free Report) is set to report third-quarter 2022 earnings on Oct 27, before the opening bell. This company delivered in-line earnings in the last reported quarter.

Let’s focus on the factors that might have impacted its third-quarter performance.

Factors at Play

TotalEnergies continued to strengthen its overall portfolio through acquisitions and monetization of non-core assets. Share repurchases during the first nine months of 2022 are likely to have had a positive impact on third-quarter earnings.  

The third-quarter performance of TTE is likely to have benefited from the contribution from start-ups, low-cost production and strong oil and gas prices. TTE’s third-quarter earnings are also likely to have benefited from the addition of more renewable energy to its portfolio.

However, positive developments are expected to have been marginally offset by the gradual suspension of TotalEnergies’ operations in Russia. During the third-quarter TotalEnergies sold its 49% interest in Terneftegaz, which operates the Termokarstovoye gas and condensates field in Russia, to Novatek TotalEnergies, further lowering its exposure in Russia.

Expectation

The Zacks Consensus Estimate for third-quarter earnings per share is $4.27, which indicates 142.61% growth from the year-ago reported figure.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for TotalEnergies this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here, as you will see below.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

 


Earnings ESP: The company has an Earnings ESP of 0.00%.

Zacks Rank: TotalEnergies currently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat for the to-be-reported quarter.

Halliburton Company (HAL - Free Report) is set to release third-quarter 2022 results on Oct 25. HAL has an Earnings ESP of +1.13% and currently carries a Zacks Rank #2.

The Zacks Consensus Estimate for third-quarter 2022 earnings of Halliburton is 56 cents per share, which indicates growth of 100% from the prior-year period.

EQT Corporation (EQT - Free Report) is set to release third-quarter 2022 results on Oct 26. EQT has an Earnings ESP of +5.93% and a Zacks Rank #2.

The Zacks Consensus Estimate for third-quarter 2022 earnings of EQT is 98 cents per share, which indicates a whopping 716.7% surge from the prior-year period.

Cheniere Energy, Inc. (LNG - Free Report) is set to release third-quarter 2022 results on Nov 3.  LNG has an Earnings ESP of +1.99% and a Zacks Rank #2.

The Zacks Consensus Estimate for third-quarter 2022 earnings of Cheniere Energy is $4.78 per share, which indicates 408.5% growth from the year-ago period.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Published in