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TotalEnergies Resumes $1.5 Billion Buyback as Earnings Jump

Provided by Dow Jones Apr 29, 2026, 6:49:00 AM

By Adam Whittaker

TotalEnergies said it would return more cash to shareholders as the conflict in the Middle East provides an earnings windfall.

The French energy major said Wednesday that it would resume share repurchases of up to $1.5 billion over the second quarter ending June as war-induced price rises deliver earnings and cash-flow growth. In February, the company slashed its buyback rate to $750 million as lower oil prices hit results.

The boost to shareholder returns comes as net profit for the first three months of its fiscal year doubled on quarter to $5.81 billion. This beat the $5.21 billion analysts had expected, according to a Visible Alpha consensus.

On Tuesday, British rival BP also said quarterly earnings more than doubled following volatility triggered by the conflict in the Middle East.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

April 29, 2026 02:49 ET (06:49 GMT)

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