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TOTAL S.A. (TOT)

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  • Oct. 29, 2014, 11:28 AM
    • Teck Resources' (TCK +2.4%) Q3 earnings tumbled 69% Y/Y, hurt by weak coal prices and a drop in copper production, but results beat analyst expectations, helped in part by improved results from its zinc operations.
    • TCK's realized coal sales price in Q3 was US$110/metric ton vs. US$139 in the year-ago period, but unit cash costs in coal were just US$84, consistent with recent quarters, and says all six of its coal mines had positive cash margins.
    • Q3 coal production rose 2% Y/Y; coal sales of 6.7M metric tons were the second highest on record for the period and follow record high sales for H1.
    • Says construction of the Fort Hills oil sands project in Alberta, which it owns with Suncor (NYSE:SU) and Total (NYSE:TOT), is progressing according to plan and expects first oil as early as Q4 2017; TCK expects its share of Fort Hills' costs this year to total ~C$800M.
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  • Oct. 29, 2014, 9:25 AM
    • Total S.A. (NYSE:TOT): Q3 EPS of $1.56 beats by $0.15.
    • Revenue of $60.36B (-2.4% Y/Y) misses by $8.4B.
    • Shares +2.3% PM.
    • Press Release
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  • Jul. 30, 2014, 8:59 AM
    • Total (NYSE:TOT) -1.4% premarket after Q2 adjusted net profit tumbles 12% Y/Y to $3.1B and it says it has stopped buying shares in Russian gas producer Novatek since the crash of Malaysian Airlines Flight 17.
    • Q2 oil and gas production fell 10% to 2.054M boe/day due to unrest in Libya, the loss of a license in the UAE and a high number of planned maintenance over the period; liquids production declined 15%, and gas production slipped 5% Y/Y.
    • TOT also suffered from the continuing difficulties facing the refining business in Europe, with margins down to $10.9/ton from $24.1 a year earlier.
    • "Russia is a great oil and gas country and we'll have to wait and see the nature of these new sanctions first," CFO Patrick de la Chevardere said in a conference call.
    • Russia accounted for nearly 10% of TOT's total output last year, and the company has said Russia will be its most important region for oil and gas output by 2020, and it is a partner in the $27B Yamal liquefied natural gas project in the Arctic.
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  • Apr. 30, 2014, 10:35 AM
    • Total (TOT +1%) reports Q1 earnings fell 10% Y/Y as refining margins and output slumped, but results were in-line with analyst estimates.
    • Q1 production fell 6% Y/Y to 2.179M boe/day from 2,323M boe/day a year earlier, marking TOT's first production drop in three consecutive quarters.
    • Security issues hurt output from Libya and Nigeria, while the UAE in January took control of oilfields that had been run by oil majors such as TOT for decades.
    • Booked a $350M charge on a Russian Arctic gas project it hoped to develop with Gazprom but shelved due to high costs.
    • Says European downstream margins had started to recover in Q2, but expects maintenance at its German and Dutch refineries in Leuna and Vlissingen to hit output.
    • Upstream, TOT expects the start-up of the CLOV project in Angola at the end of June, and the coming on stream of the Laggan-Tormore field in Scotland and Nigeria's Ofon Phase 2 in H2 2014.
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  • Feb. 12, 2014, 3:41 AM
    • Total's (TOT) Q4 net profit slumped 19% to €2.47B ($3.37B) and missed consensus of €2.59B, hurt by a slight fall in output, the weaker dollar, poor results at the oil company's refining operations, and delays at important oil fields such as Kazakhstan's Kashagan.
    • Revenue -4% to €47.75B.
    • Production 2.28M barrels of oil equivalent a day vs 2.29M.
    • Total reiterated its 2015 production goal of 2.6M barrels of oil equivalent a day and the potential for 3M in 2017.
    • Shares +1% in Paris. (PR)
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  • Oct. 31, 2013, 9:57 AM
    • Suncor (SU +0.8%) says it will proceed with the C$13.5B ($12.9B) Fort Hills oil sands project.
    • The venture with Total (TOT -0.7%) and Teck Resources (TCK -1.4%) will begin producing crude in 2017, adding 180K bbl/day of output in Alberta; SU’s share of the costs will be C$5.5B.
    • In its Q3 results, SU also cut its full-year production target to 545K-590K boe/day from an earlier outlook of 570K-620K because of disruptions in Libya, planned outages at Syncrude Canada and the sale of part of its natural gas business in western Canada.
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  • Oct. 31, 2013, 3:40 AM
    • Total's (TOT) adjusted Q3 net profit skidded 19% to €2.7B ($3.72B) and missed forecasts of €2.78B, hurt by the "endemic problem" of "extremely weak" refining margins in Europe and increased exploration expenses.
    • Revenue fell 6% to €46.7B but topped consensus of €43.8B.
    • Output was 2.3M barrels a day.
    • Expects oil and gas output to increase this year, although CFO Patrick de La Chevardiere wouldn't reiterate a prior target of 2-3%. (PR)
    • Declares dividend of €0.59 a share, unchanged from the previous quarter but above predictions of €0.51. (PR)
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  • Jul. 26, 2013, 4:11 AM
    Total (TOT): Q2 adjusted net profit -3% to €2.7B vs consensus of €2.67B; sales -4% to €46.97B. Net profit +67% to €2.54B. Shares -0.4% in Paris. (PR)
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  • Apr. 26, 2013, 3:35 AM
    Total (TOT): Q1 adjusted net profit -7.1% to €2.86B, slightly below consensus of €2.95B. Net profit -58% to €1.54B, due to higher taxes and a €1.25B loss related to the sale of a Canadian oil sands project. Revenues -6% to €48.13B. Oil prices -5%. As expected, oil and gas output -2% to 2.32M barrels of oil equivalent a day, with the decline due to the shutdown of the U.K.'s Elgin-Franklin gas fields, natural decline rates, and maintenance. Remains confident of achieving targets. (PR)
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  • Feb. 13, 2013, 3:20 AM
    Total (TOT): Q4 net profit excluding changes inventories +13% to €3.08B vs consensus of €3B, EPS +3% to €1.05 and revenue +5% to €49.89B, with earnings boosted by higher refining margins and crude prices. Production -4%to 2.29M barrels of oil equivalent a day, due to a shutdown at the Elgin platform in the North Sea and flooding in Nigeria. Expects output to rise 2-3% in 2013, to sell $9B worth of assets. Proposes 2012 dividend of 2.34/share. (PR)
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  • Nov. 7, 2012, 11:40 AM
    Amyris (AMRS +27%) soars after blowing out Q3 estimates late yesterday. Revenue actually fell 47% Y/Y - largely due to the company's transition out of the ethanol business - but the company still managed to easily beat expectations by $9.7M. Top-line numbers benefited from higher sales of renewable products after it revised its collaboration agreement with Total (TOT -3.7%).
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  • Jul. 27, 2012, 5:23 AM
    Total (TOT +1.8% in Paris) Q2: adjusted net profit +2% to €2.9B ($3.57B) vs. consensus of €2.86B. Revenue +9% to €49.1B vs. €47.88B. Output -2% to 2.26M bpd, hurt by disruptions at various projects, including in the North Sea. Takes €316M charge linked to a U.S. probe of gas contracts with Iran in the 1990s. Ups dividend 3.5% to €0.59/share. (PR)
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  • Jul. 27, 2012, 12:05 AM
    Notable earnings before Friday’s open: ACI, AON, CCJ, CFX, CPN, CVH, CVX, DHI, DTE, EGO, FNFG, HP, KKR, LM, LYB, MRK, NEM, NVE, OHI, TOT, TRP, WY
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  • Jul. 26, 2012, 5:30 PM
    Notable earnings before Friday’s open: ACI, AON, CCJ, CFX, CPN, CVH, CVX, DHI, DTE, EGO, FNFG, HP, KKR, LM, LYB, MRK, NEM, NVE, OHI, TOT, TRP, WY
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  • Apr. 27, 2012, 3:16 AM
    Total (TOT): Q1 adjusted net income of €3.07B, down slightly from €3.1B a year ago but in-line with expectations. Net profit -7% to €3.66B. Warns Q2 production will be impacted by leaks at its North Sea and Nigerian operations as well as planned maintenance. (PR)
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  • Apr. 27, 2012, 12:05 AM
    Notable earnings before Friday's open: ALV, COV, CPN, CVH, DTE, F, GT, IMAX, IP, KKR, MRK, NEM, PG, SPG, TOT, VFC, VTR, WY
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Company Description
Total SA is an integrated oil and gas company. It explores and develops oil and gas properties, liquefied natural gas, petrochemicals and specialty chemicals. It is also engaged in trading and shipping of crude oil and petroleum products.