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TOTAL SA Q2 profit falls YOY

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TOTAL SA Q2 profit falls YOY

Total SA said its second-quarter normalized net income came to $1.29 per share, compared with the S&P Capital IQ consensus estimate of $1.16 per share.

EPS fell 22.6% year over year from $1.67.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.97 billion, a decrease of 21.8% from $3.80 billion in the prior-year period.

The normalized profit margin rose to 7.6% from 6.8% in the year-earlier period.

Total revenue fell 30.1% year over year to $39.27 billion from $56.21 billion, and total operating expenses decreased 30.5% year over year to $35.38 billion from $50.90 billion.

Reported net income declined from the prior-year period to $2.96 billion, or $1.29 per share, from $3.10 billion, or $1.36 per share.