Equinor ADR


SKU: EQNR Category:


Equinor ASA managed to exceed analyst expectations in terms of revenue as well as earnings, showcasing strong adjusted earnings of $8 billion, with $2.7 billion after tax. Despite European gas prices seeing a significant dip from the previous year, Equinor’s net operating income stands at $7.5 billion, and year-to-date cash flow from operations after tax remains strong at $17 billion, aligning with their Capital Markets Day projections. The volatile gas market, impacted by global events such as strikes in Australia, the terrorist attack on Israel, and Baltic pipeline issues, underscores the need for strategic adaptability. Amidst market challenges, Equinor highlights achievements in the quarter, notably the inauguration of Dogger Bank, the world’s largest offshore wind farm, signaling progress in the renewable energy sector. They also remain committed to their renewable growth strategy, showcasing a strong offshore and onshore renewable portfolio. Key milestones include the completion of Breidablikk ahead of schedule, PDO approval for Snøhvit future projects, and the green light for the significant Rosebank project in the UK. While celebrating achievements, Equinor addresses a tragic incident in August, emphasizing the ongoing priority of safety. Despite setbacks in NCS gas production due to planned maintenance, Equinor remains resilient, adjusting production growth guidance to around 1.5% in 2023.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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