STOHF - Equinor GAAP EPS of $0.60 revenue of $22.87B misses by $1.89B; reaffirms FY23 guidance
2023-07-26 01:44:19 ET
- Equinor press release ( NYSE: EQNR ): Q2 GAAP EPS of $0.60.
- Revenue of $22.87B (-37.3% Y/Y) misses by $1.89B .
- Equinor delivered adjusted earnings of $7.54 billion and $2.25 billion after tax in the second quarter of 2023.
- Net operating income was $7.05 billion.
- Equinor delivered total equity production of 1,994 mboe per day for the second quarter, slightly above the 1,984 mboe per day in the same quarter of 2022.
- Outlook: Organic capital expenditures are estimated at $10-$11 billion for 2023, and at an annual average of around $13 billion for 2024-2026.
- Production for 2023 is estimated to be around 3% above 2022 level.
- Equinor’s ambition is to keep the unit of production cost in the top quartile of its peer group.
- Scheduled maintenance activity is estimated to reduce equity production by around 45 mboe per day for the full year of 2023
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Equinor GAAP EPS of $0.60, revenue of $22.87B misses by $1.89B; reaffirms FY23 guidance