Adjusted net income slipped to $4.0 billion from $4.1 billion a year earlier, in line with an analysts' consensus compiled by LSEG — though Total had flagged a slight earnings rise in a trading update earlier this month.
Its shares were down 1.5% to 53.32 euros at 0856 GMT.
While oil prices in July-to-September were down about 14% from a year earlier, European margins on refining fuels have soared more than 300% as the EU's ban on fuel imports made from Russian oil restricted supply just as diesel demand rose during the holiday driving season.
That boosted Total's downstream results by $462 million or 76% versus a year earlier.
The company also increased its hydrocarbon production by 4% to 2.5 million barrels of oil equivalent per day, leading to a 10% boost in upstream earnings.
Earnings from its liquefied natural gas segment fell 18% reflecting maintenance-related outages and calmer markets.
Total said its LNG sales price would fall in the fourth quarter to $8.50 per million British thermal units, even as markets show a rise to $11/Mbtu on winter demand, due to a time lag affecting its pricing formulas.
The company is under pressure from investors to lower its debt after buying assets worth more than $3 billion in the first half while oil prices look set to fall further in 2026.
It announced a cost-saving programme, though some asset sales meant to bring in cash have fallen through.
About $400 million in disposals net of acquisitions this quarter have lowered the company's gearing, or debt-to-equity ratio, to 17.3% from 17.9% in the second quarter.
"Looking forward, the key for Total will be to de-risk the $2 billion planned divestments" in the fourth quarter to further push down gearing, said RBC analyst Biraj Borkhataria.
He added that Total could generate more cash by selling Indian renewables co-owned with Adani Green Energy.
The company confirmed a trimmed share buyback of up to $1.5 billion in the fourth quarter.
Its third interim dividend of 0.85 euros per share, which Total said it would not cut, is 7.6% higher than a year earlier.
Total also announced that its plan to cross-list on the New York Stock Exchange will be realised on December 8, when existing American Depositary Receipts will be converted into ordinary shares.
