EQNR - Equinor GAAP EPS of $1.59 revenue of $29.22B misses by $530M
2023-05-04 00:58:56 ET
- Equinor press release ( NYSE: EQNR ): Q1 GAAP EPS of $1.59.
- Revenue of $29.22B (-19.7% Y/Y) misses by $530M .
- Equinor delivered adjusted earnings of ?12.0 billion and $3.51 billion after tax in the first quarter of 2023.
- Net operating income was $12.5 billion, and net income was $4.97 billion.
- Outlook: Organic capital expenditures are estimated at $10-$11 billion for 2023, and at an annual average of around $13 billion for 2024-20261 .
- 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 $1.59, revenue of $29.22B misses by $530M