TOTAL (TOT) Q2 Earnings Miss Estimates, Revenues Drop Y/Y
Zacks Investment Research | Jul 24, 2019 11:25PM ET
TOTAL S.A. (NYSE:TOT) reported second-quarter 2019 operating earnings of $1.05 per share (€0.94 per share), lagging the Zacks Consensus Estimate of $1.23 by 14.6%.
The bottom line also declined 19.8% from the year-ago figure of $1.31 per share (€1.10 per share). This decline was primarily due to softness in the prices of commodities compared with the previous year.
Total Revenues
Total revenues came in at $51.24 billion, down 2.5% from $52.54 billion generated in the year-ago quarter.
Production
Total hydrocarbon production during the first quarter averaged 2,957 thousand barrels of oil equivalent per day, up 9% year over year. The increase was due to higher contribution from Egina in Nigeria, Kaombo North in Angola, Ichthys in Australia and Yamal LNG in Russia.
In the reported quarter, liquids production averaged 1,624 thousand barrels per day, increasing 3% from the year-ago period.
Gas production during the quarter was 7,477 thousand cubic feet per day, up 21% year over year. Increased production in Asia-Pacific, Middle East and North Africa, and Europe and Central Asia East was partially offset by soft output from Africa and Americas.
TOTAL S.A. Price, Consensus and EPS Surprise
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