TotalEnergies reported a 22% decline in Q1 2024 adjusted net income to $5.1bn on Friday. Higher refining margins partially offset a significant decrease in natural gas profits. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) fell 19% to $11.49bn. Cash flow from operations, excluding working capital, also fell 20% to $5.6bn from the same quarter last year.