10/30, 8:15 AM (Source: TeleTrader)
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Total reports Q3 EPS at $0.29, down 74% YoY

Total unveiled on Friday its adjusted fully-diluted earnings per share plunged 74% year-over-year to land at $0.29 in the third fiscal quarter. The company's adjusted net income was at $848 million in the same trimester, falling 72% annually but topping market expectations.

The French oil and gas company's cash flow from operations amounted to $4.35 billion in the third quarter, dropping 47% compared to the same period last year, while total revenues from sales sank 36% to $27.22 billion

"After the second quarter in which the Group faced exceptional circumstances with oil prices falling below $20/b and a very strong slowdown of global activity linked to the health crisis, the Group benefited during the third quarter from a more favorable environment, with oil prices above $40/b thanks to strong OPEC+ discipline as well as the demand recovery for petroleum products for road transportation," Total CEO Patrick Pouyanne commented on the results.

Breaking the News / GA