TotalEnergies Misses Profit Forecast on Weak Refining and Low Oil Prices

Weak refining margins, lower LNG production, and declining oil prices weighed on the third-quarter earnings of TotalEnergies (NYSE: TTE), which came below expectations. TotalEnergies reported on Thursday an adjusted net income of $4.1 billion for the third quarter, down by 13% from the second quarter, and down from $6.45 billion a year earlier. The earnings, TotalEnergies’s lowest quarterly profit in three years, missed the analyst estimate of $4.27 billion. After the results were published, TotalEnergies shares slumped by 2.5% in Paris and…