TotalEnergies posts 21% drop in annual profit, targets buybacks of $2 billion per quarter in 2025

French oil major TotalEnergies reported a 21% drop in full-year 2024 adjusted net income to $18.3 billion, lower than analysts’ expectations of $18.2 billion. The company’s fourth-quarter adjusted net income increased by 8%, driven by strong performance in integrated liquefied natural gas and integrated power. TotalEnergies also announced a 7% increase in the 2024 dividend to 3.22 euros ($3.35) per share, with plans to target $2 billion of share buybacks per quarter in 2025, citing expectations of higher gas prices and robust hydrocarbon production in the first three months of the year.

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