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TOTAL SA profit beats consensus by 32.2% in Q1

Total SA said its first-quarter normalized net income was $1.28 per share, compared with the S&P Capital IQ consensus estimate of 97 cents per share.

EPS decreased 26.5% year over year from $1.75.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.95 billion, a decline of 25.9% from $3.97 billion in the prior-year period.

The normalized profit margin fell to 7.1% from 7.2% in the year-earlier period.

Total revenue fell 32.6% year over year to $36.96 billion from $54.85 billion, and total operating expenses decreased 32.0% from the prior-year period to $33.36 billion from $49.08 billion.

Reported net income declined 20.3% from the prior-year period to $2.65 billion, or $1.16 per share, from $3.32 billion, or $1.46 per share.