TotalEnergies Marketing Nigeria Plc is projecting a pre-tax profit of N1.3 billion for the second quarter of 2026, with earnings per share expected to reach N3.90.
If achieved, this would mark a notable turnaround from the same quarter in 2025, when the company reported a loss after tax of N2.7 billion.
For the full year 2025, the company posted a loss after tax of N17.1 billion, compared with a profit after tax of N27.4 billion in 2024, as it faced declining revenue and rising administrative and finance costs.
The Q2 forecast, if realized, could help the company return to profitability, provided the remaining quarters also align favorably.
What the data is saying
According to the Q2 2026 forecast, revenue is expected to reach N169.9 billion, compared to N202.2 billion recorded in the second quarter of 2025.
- After accounting for cost of sales of N145.5 billion, gross profit for Q2 2026 is projected at N24.3 billion, slightly higher than the N23.9 billion recorded in Q2 2025.
- The improvement will largely be driven by lower operating expenses, with administrative expenses expected to decline to N16.6 billion from N21.3 billion in Q2 2025.
- As a result, operating profit is projected to rise to N6.35 billion in Q2 2026, representing an 89.44% increase from N3.35 billion recorded in the same period last year.
Finance costs, mainly interest on bank overdrafts, are also expected to shrink to N4.7 billion in Q2 2026 from N7.1 billion in Q2 2025.
This reduction in costs is expected to support profitability, with the company projecting a post-tax profit of N1.3 billion for Q2 2026, compared to a loss of N2.7 billion in Q2 2025.
The projection also represents an improvement over the company’s Q1 estimate of N251.9 million, as it works to recover from a post-tax loss of N17.18 billion reported for the 2025 financial year.
Get up to speed
TotalEnergies reported a post-tax loss of N17.18 billion in 2025, compared to a post-tax profit of N27.50 billion in 2024, marking a sharp decline in profitability.
- The downturn was mainly driven by a 26% drop in revenue to N767.63 billion, down from N1.04 trillion in the previous year, while cost of sales stood at N685.55Â billion, pushing gross profit down 29% to N82.07 billion.
- Operating expenses also increased significantly, with administrative expenses rising by 19.71% to N77.4 billion, causing operating profit to fall 85% to N9.49 billion.
Net finance costs spiked by 12% to N21.99 billion due to bank overdrafts, leading the company to record a post-tax loss of N17.1 billion, its first loss in six years.
What you should know
Shares of the company remain on a strong long-term uptrend on the Nigerian Exchange, despite slower price movement that began in the second half of 2025.
The stock has largely traded sideways since September 2025, reflecting cautious sentiment among investors.
Currently trading around N640, stronger fundamentals, such as improved Q1 2026 earnings when published, could trigger renewed bullish momentum in the stock.
