TotalEnergies SE (TTES:CA) Q2 2026 Earnings Call July 23, 2026 7:00 AM EDT
Company Participants
Patrick Pouyanné – Chairman & CEO
Jean-Pierre Sbraire – Chief Financial Officer
Conference Call Participants
Martijn Rats – Morgan Stanley, Research Division
Michele Della Vigna – Goldman Sachs Group, Inc., Research Division
Biraj Borkhataria – RBC Capital Markets, Research Division
Douglas George Blyth Leggate – Wolfe Research, LLC
Christopher Kuplent – BofA Securities, Research Division
Mark Wilson – Jefferies LLC, Research Division
Matthew Lofting – JPMorgan Chase & Co, Research Division
Lucas Herrmann – BNP Paribas, Research Division
Naisheng Cui – Barclays Bank PLC, Research Division
Kim Fustier – HSBC Global Investment Research
Jason Gabelman – TD Cowen, Research Division
Henri Patricot – UBS Investment Bank, Research Division
Bertrand Hodee – Kepler Cheuvreux, Research Division
Fergus Neve – Rothschild & Co Redburn, Research Division
Jean-Luc Romain – CIC CIB, Research Division
Ahmed Ben Salem – ODDO BHF Corporate & Markets, Research Division
Presentation
Patrick Pouyanné
Chairman & CEO
Hello, everybody. Good afternoon or good morning for those who are in the U.S. And before Jean-Pierre will go through the details of the second quarter financials, I would like first to make a few opening comments. Starting, obviously, with the current conflict in the Middle East, which has picked up again in the last few days and which is clearly impacting our markets and our operations and our perspectives.
Although, we are all hoping in mid-June that the resolution could be envisaged for the signature of the MOU and ceasefire between the U.S. and Iran. The situation has remained, to say the least, extremely volatile with the Strait of Hormuz almost being an intermittent battleground where the risk premium to navigate in these waters is increasingly high. Some are even beginning to consider that this could become a new normal with the strait opening on and off, depending on level of tensions between the parties. This unstable and chaotic
