TOTAL (TOT) Misses Q3 Earnings Estimates; Revenues Beat
Zacks Investment Research | Oct 30, 2016 09:24PM ET
Integrated oil and gas company TOTAL S.A. (TO:TOT) reported third-quarter 2016 operating earnings of 84 cents per share (€0.76 per share), lagging the Zacks Consensus Estimate of 85 cents by a penny.
Moreover, third-quarter operating earnings plunged 28% from the year-ago tally of $1.17 per share (€1.06 per share).
Total Revenue
Total revenue in the reported quarter came in at $37.41 billion, down 8% from $40.58 billion in the year-ago quarter. Reported revenues also surpassed the Zacks Consensus Estimate of $35.4 billion by 5.5%.
Production
Total hydrocarbon production during the third quarter of 2016 averaged 2,443 thousand barrels of oil equivalent (kboe) per day, up 4% year over year. The increase was primarily driven by new project startups, partially offset by the security situation in Nigeria and forest fires in Canada.
In the third quarter, liquids production averaged 1,290 thousand barrels per day, up 4%. Higher liquid production in Europe, Central Asia and America drove the overall output level, which was partially offset by lower production in the Asia-Pacific region.
Gas production during the quarter was 6,286 thousand cubic feet per day, up 5% year over year. Soft performance in Africa was more than offset by an increase in production in the Asia-Pacific, Europe, Central Asia and America.
TOTAL FINA SA Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.