Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>During the third-quarter earnings call, TotalEnergies provided insights into its performance and strategic direction for the foreseeable future.</li><li>The company's management, represented by CEO Patrick Pouyanné and CFO Jean-Pierre Sbraire, highlighted several key areas of growth and concern.</li><li>On the positive side, TotalEnergies showcased strong financial and operational resilience despite a challenging environment marked by a drop in oil prices.</li></ul>

During the third-quarter earnings call, TotalEnergies provided insights into its performance and strategic direction for the foreseeable future.The company's management, represented by CEO Patrick Pouyanné and CFO Jean-Pierre Sbraire, highlighted several key areas of growth and concern.On the positive side, TotalEnergies showcased strong financial and operational resilience despite a challenging environment marked by a drop in oil prices.

TotalEnergies’ Offshore Wind Gambit Is Paying Off—What You Need to Know!

<ul><li>TotalEnergies released its financial results for the second quarter and first half of 2025, navigating a turbulent macroeconomic and geopolitical environment.</li><li>Challenges such as the Israel-Iran conflict and a US tariff war created market volatility, with oil prices fluctuating between $60 to $81 per barrel within the quarter.</li><li>The limited price increases during the Iran crisis signaled adequate oil market supply, influenced by OPEC+ decisions and slowed global demand due to economic conditions.</li></ul>

TotalEnergies released its financial results for the second quarter and first half of 2025, navigating a turbulent macroeconomic and geopolitical environment.Challenges such as the Israel-Iran conflict and a US tariff war created market volatility, with oil prices fluctuating between $60 to $81 per barrel within the quarter.The limited price increases during the Iran crisis signaled adequate oil market supply, influenced by OPEC+ decisions and slowed global demand due to economic conditions.

TotalEnergies Is Quietly Building An Energy Empire Across LNG

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>TotalEnergies’ Q2 2025 revenue is expected to drop 17.2% QoQ and 19.4% YoY. Similarly, its EPS is projected to drop 8.7% QoQ and 15.7% YoY.</li>
<li>TotalEnergies is expected to post its weakest quarterly revenue and EPS reading since Q1 2021, as falling crude and LNG prices overshadow gains in refining.</li>
<li>With 80% of earnings tied to upstream and LNG, even strong production and steady downstream performance leave little room for upside.</li>
</ul>


TotalEnergies’ Q2 2025 revenue is expected to drop 17.2% QoQ and 19.4% YoY. Similarly, its EPS is projected to drop 8.7% QoQ and 15.7% YoY.
TotalEnergies is expected to post its weakest quarterly revenue and EPS reading since Q1 2021, as falling crude and LNG prices overshadow gains in refining.
With 80% of earnings tied to upstream and LNG, even strong production and steady downstream performance leave little room for upside.


[Earnings Preview] Crude and LNG Slump to Undercut TotalEnergies Q2 Performance

<ul><li>TotalEnergies' first quarter of 2025 demonstrates the company's resilience amid a challenging global environment marked by geopolitical tensions and economic uncertainties such as the Ukrainian-Russian conflict and fluctuating oil prices.</li><li>The company’s strategy focuses on sustained energy production growth, maintaining operational efficiency, and securing shareholder returns despite these external pressures.</li><li>The results highlight several positive aspects.</li></ul>

TotalEnergies' first quarter of 2025 demonstrates the company's resilience amid a challenging global environment marked by geopolitical tensions and economic uncertainties such as the Ukrainian-Russian conflict and fluctuating oil prices.The company’s strategy focuses on sustained energy production growth, maintaining operational efficiency, and securing shareholder returns despite these external pressures.The results highlight several positive aspects.

TotalEnergies: Why Integration and Expansion in Renewables and Integrated Power Is The Need Of The Hour!

<ul>
<li>In Q4, TotalEnergies beat adjusted net income forecasts by 4.8% and revenue projections by 11%. Adjusted net income and EPS rose by 8.1% QoQ and 9.2%, respectively.</li>
<li>TotalEnergies’ average gas price realisation rose 8.3% QoQ, European refining margins surged by 68.2% QoQ, while LNG price realisation rose 4.6%.</li>
<li>TotalEnergies’ hydrocarbon production rose 0.7% QoQ to 2.43 mboepd, as a 4.5% gas output increase offset a 2.4% oil production decline.</li>
</ul>


In Q4, TotalEnergies beat adjusted net income forecasts by 4.8% and revenue projections by 11%. Adjusted net income and EPS rose by 8.1% QoQ and 9.2%, respectively.
TotalEnergies’ average gas price realisation rose 8.3% QoQ, European refining margins surged by 68.2% QoQ, while LNG price realisation rose 4.6%.
TotalEnergies’ hydrocarbon production rose 0.7% QoQ to 2.43 mboepd, as a 4.5% gas output increase offset a 2.4% oil production decline.


[Earnings Review] TotalEnergies Surpasses Estimates on Strong Gas Trading and Higher LNG Prices

France

TotalEnergies SE operates as an energy company. The Company produces, transports, and supplies crude oil, natural gas, and low carbon electricity, as well as refines petrochemical products. TotalEnergies owns and manages gasoline filling stations worldwide.

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TotalEnergies (TTE US)

TotalEnergies’ Offshore Wind Gambit Is Paying Off—What You Need to Know!

During the third-quarter earnings call, TotalEnergies provided insights into its performance and strategic direction for the foreseeable...

Baptista Research

TotalEnergies Is Quietly Building An Energy Empire Across LNG

TotalEnergies released its financial results for the second quarter and first half of 2025, navigating a turbulent macroeconomic and geopolitical...

Baptista Research

[Earnings Preview] Crude and LNG Slump to Undercut TotalEnergies Q2 Performance

TotalEnergies faces significant revenue and EPS drops in Q2 2025 due to falling crude and LNG prices, potentially marking its weakest quarter...

Mint Finance

TotalEnergies: Why Integration and Expansion in Renewables and Integrated Power Is The Need Of The Hour!

TotalEnergies' first quarter of 2025 demonstrates the company's resilience amid a challenging global environment marked by geopolitical tensions...

Baptista Research

[Earnings Review] TotalEnergies Surpasses Estimates on Strong Gas Trading and Higher LNG Prices

TotalEnergies exceeded Q4 forecasts with a 4.8% beat in adjusted net income and 11% in revenue. Gas price realisation and European refining...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TotalEnergies’ Offshore Wind Gambit Is Paying Off—What You Need to Know!

During the third-quarter earnings call, TotalEnergies provided insights into its performance and strategic direction for the foreseeable...

Baptista Research

TotalEnergies Is Quietly Building An Energy Empire Across LNG

TotalEnergies released its financial results for the second quarter and first half of 2025, navigating a turbulent macroeconomic and geopolitical...

Baptista Research

[Earnings Preview] Crude and LNG Slump to Undercut TotalEnergies Q2 Performance

​TotalEnergies faces significant revenue and EPS drops in Q2 2025 due to falling crude and LNG prices, potentially marking its weakest quarter...

Mint Finance

TotalEnergies: Why Integration and Expansion in Renewables and Integrated Power Is The Need Of The Hour!

TotalEnergies' first quarter of 2025 demonstrates the company's resilience amid a challenging global environment marked by geopolitical tensions...

Baptista Research

[Earnings Review] TotalEnergies Surpasses Estimates on Strong Gas Trading and Higher LNG Prices

​TotalEnergies exceeded Q4 forecasts with a 4.8% beat in adjusted net income and 11% in revenue. Gas price realisation and European refining...

Mint Finance

TotalEnergies faces significant revenue and EPS drops in Q2 2025 due to falling crude and LNG prices, potentially marking its weakest quarter...

TotalEnergies exceeded Q4 forecasts with a 4.8% beat in adjusted net income and 11% in revenue. Gas price realisation and European refining...