TotalEnergies Misses Earnings Estimates Amid Weak LNG Sales and Refining Margins

French supermajor TotalEnergies (NYSE: TTE) reported lower-than-expected net income for the second quarter of the year amid lower LNG sales and prices and weaker refining margins. TotalEnergies reported on Thursday an adjusted net income of $4.7 billion for the second quarter, down by 9% from the first quarter and also down from the $4.96 billion earnings for the second quarter of 2023. The Q2 2024 adjusted net income missed the analyst consensus estimate of a net profit of $4.96 billion. TotalEnergies’ upstream production averaged 2.44 million…