TotalEnergies sticks to share buyback plans despite net income dro

TotalEnergies on Thursday reported a 35% fall in third-quarter adjusted net income from last year’s record high, hurt by a drop in energy prices, but it maintained its share buyback operation as conflicts push oil prices back up.

The French energy company’s adjusted net income stood at $6.5 billion, down from the year-earlier $10 billion but just beating an analyst forecast of $6.4 billion, according to a consensus established from LSEG data.

Second quarter adjusted net income was $5 billion.