TotalEnergies reported lower results for the first quarter of 2024 on Friday, marked by lower gas prices, while confirming the level of its share buybacks.

Over the January-March period, the oil and gas group, which also has a strong presence in renewable energies, posted adjusted net income of $5.1 billion (-22%), adjusted Ebitda of $11.5 billion (-19%) and production of 2.461 million barrels per day (-2%).

According to LSEG data, analysts were expecting an average adjusted net income of $5.0 billion.

TotalEnergies is proposing an interim dividend of 0.79 euros per share (+6.8%) and says it has authorized a $2 billion share buyback program in the second quarter. (Benjamin Mallet reports; edited by Blandine Hénault)