Published on 29 May 2024 on GuruFocus.com via Yahoo Finance
France-based TotalEnergies SE (NYSE:TTE) released its first-quarter 2024 earnings on April 26.
In a nutshell, the energy company reported a 22% decrease in earnings for the first quarter of 2024, largely attributed to reduced profits from natural gas. The company partially offset this decline with a stronger-than-expected performance in the oil segment. However, the recent rise in crude oil prices may hurt refining margins in the coming months.