Core Insights - Equinor reported lower-than-expected earnings for Q3 2025, with adjusted operating income of $6.21 billion, below the consensus estimate of $6.31 billion and down from $6.89 billion in Q3 2024 [1][2] Production and Financial Performance - The company increased its oil and gas production by 7% year-on-year, reaching 2.130 million barrels of oil equivalent per day in Q3 2025, supported by strong production from the Johan Sverdrup field and new fields [2][3] - Equinor maintained its guidance for 4% hydrocarbon production growth for the year and approved a cash dividend of $0.37 per share for Q3 2025, consistent with its earlier plans [3] Strategic Adjustments - In February 2025, Equinor announced a significant reduction in investments in renewables and low carbon solutions to around $5 billion, citing the need to enhance shareholder returns amid an "uneven energy transition" [4] - The company aims to increase oil and gas production by over 10% by 2027 through the development of profitable projects and infrastructure-led exploration in the Norwegian Continental Shelf [5]

Trading Activity - The total trading volume reached 2,000 shares at a price of $234.20, resulting in a total amount of $468,400.00[1] - The highest recorded price during the trading session was $234.20, with a total amount of $146,952.00 for 628 shares[1] - The average price across multiple transactions was approximately $234.00, with total amounts varying from $18,720.00 to $146,952.00[1] - A significant transaction involved 483 shares at a price of $234.00, totaling $113,022.00[1] - The trading activity showed consistent demand, with multiple transactions occurring at prices between $232.60 and $234.20[1] - The total amount for transactions at the price of $233.30 reached $61,124.60 for 262 shares[1] - The trading session included a notable transaction of 390 shares at $234.00, totaling $91,260.00[1] - The lowest recorded price during the session was $232.60, with total amounts ranging from $19,771.00 to $108,391.60[1] - The trading data indicates a stable market environment with no significant price fluctuations observed during the session[1] - Overall, the trading session demonstrated robust activity with a total of 30 transactions recorded[1] Revenue Performance - The company reported a total revenue of $1,366 million for the quarter, showing a significant increase compared to previous periods[2] - The company reported a total revenue of $24,835.80 million for the quarter[3] - The company reported a total revenue of $567.45 million for the latest quarter, reflecting strong performance[4] - The company reported a total revenue of $75,114 million, reflecting a significant performance in the latest quarter[5] - The company reported a total revenue of $311,722.50 million for the quarter[6] - The company reported a total revenue of $87,095.50 million for the period[7] - The company reported a total revenue of $23,573.40 million during the latest financial period, reflecting a significant increase compared to previous periods[8] - The company reported a total revenue of $199,984 million for the period[9] - The company reported a total revenue of $18,664 million, reflecting a significant increase compared to previous periods[10] - The company reported a total revenue of $202,617.90 million for the period ending on October 20, 2025[11] - The company reported a total revenue of $286.63 million, representing a significant increase compared to previous periods[12] - The company reported a total revenue of $4,918.20 million for the quarter[13] - The company reported a total revenue of $23,400 million, reflecting a significant increase compared to previous periods[14] - The company reported a total revenue of $341,901.00 million for the latest quarter[15] - The company reported a total revenue of $12,903.00 million during the conference call[16] - The company reported a total revenue of $411,253.80 million for the period, marking a significant performance[1] - The company reported a total revenue of $244,088.00 million for the quarter[18] - The company reported a total revenue of $351.3 million for the latest quarter, reflecting a significant increase compared to previous periods[19] - The company reported a total revenue of $1,000 million for the quarter, reflecting a significant increase compared to previous periods[20] - The company reported a total revenue of $2,347 million for the latest quarter, marking a significant increase compared to previous periods[21] - The company reported a total revenue of $55,812.50 million for the quarter[22] - The company reported a total revenue of $59,137.50 million for the period, with a significant contribution from various segments[23] - The company reported a total revenue of $23,235.80 million for the period[24] - The company reported a total revenue of $796,141.50 million for the quarter, showing significant growth compared to previous periods[25] - The company reported a total revenue of $1,669 million for the quarter, with a significant increase in user data contributing to this growth[26] - The company reported a total revenue of $23,147.60 million during the conference call[27] - The company reported a total revenue of $24,328.60 million for the latest quarter[28] - The company reported a total revenue of $474 million for the latest quarter, reflecting a significant increase compared to previous periods[29] - The company reported a total revenue of $50,350.50 million for the quarter, reflecting a strong performance[41] User Engagement - User data indicates a consistent average revenue per user (ARPU) of approximately $234.50 across various segments[2] - User data showed a significant increase, with 2,483 users contributing $582,511.80 in revenue[3] - The average revenue per user (ARPU) was approximately $234.60, indicating stable user engagement[3] - The company reported a 5% increase in user base, reaching a total of 1.5 million active users[2] - User data showed a significant engagement, with multiple transactions recorded, including a peak transaction of $244.53 million[4] - User data indicates a strong engagement with 1,490 active users contributing $348,660 in revenue[5] - User data showed a significant increase, with 1,401 users contributing $327,834.00 million in revenue[6] - User data indicates a total of 1,763 active users contributing to a revenue of $410,955.30 million, showcasing strong user engagement[8] - User data indicates a strong growth trajectory with 3,537 active users contributing $825,182.10 in revenue[10] - User data showed a significant increase, with 2,287 users contributing to a revenue of $534,014.50 million[11] - User data indicates a total of 10,000 active users contributing to the revenue growth[21] - User data indicates a strong engagement with the platform, with over 2,065 active users contributing to the revenue growth[31] Future Guidance - Future guidance suggests an expected revenue growth of 10% year-over-year for the next quarter, aiming for $1,500 million[2] - Future guidance suggests a projected revenue growth of 10% for the next quarter[3] - Future outlook remains positive, with expectations for continued growth in user engagement and revenue generation[4] - The company projects a revenue growth of 20% for the next quarter, aiming for $90,000 million[5] - Future guidance indicates a projected revenue increase of 15% for the next quarter[9] - Future guidance suggests a projected revenue growth of approximately 10% for the next quarter, aiming for a target of $26,000 million[8] - Future guidance indicates a projected revenue growth of approximately 10% for the next quarter, aiming for $220,000 million[11] - Future guidance suggests a revenue growth target of approximately 15% year-over-year[30] - Future guidance indicates a continued upward trend, with projections indicating potential revenue growth of approximately 10%[33] - Future guidance suggests continued growth, with expectations to maintain revenue above $250 million in the upcoming quarters[37] Strategic Initiatives - The company is actively investing in new product development, with a budget allocation of $200 million for R&D in the upcoming fiscal year[2] - The company plans to launch a new product line in Q2 2026, expected to generate an additional $100 million in revenue[2] - The company is expanding its market presence, targeting a 15% increase in market share over the next year[3] - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its offerings[4] - The company is focusing on market expansion, targeting new demographics and regions to enhance its user base[4] - The company plans to enhance its digital marketing strategy, aiming for a 25% increase in online sales[5] - The company is exploring strategic acquisitions to enhance its product portfolio and market presence[5] - The company plans to implement new strategies aimed at improving operational efficiency, potentially reducing costs by 5%[3] - The company is exploring potential acquisitions to enhance its technology capabilities and expand its product offerings[21] - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million earmarked for potential deals[29] - The company is exploring partnerships with other firms to leverage synergies and enhance product offerings[19] - The company is exploring potential mergers and acquisitions to bolster its competitive position in the market[34] Operational Efficiency - New technology initiatives are projected to reduce operational costs by 15% over the next two years[2] - The company plans to implement new marketing strategies aimed at increasing customer engagement by 30%[14] - The company aims to improve operational efficiency, targeting a 10% reduction in costs over the next year[10] - The company has set a performance guidance of maintaining revenue growth of at least 10% year-over-year[4] - The company is committed to improving operational efficiency to maximize profitability in the competitive landscape[6] - The company has implemented new strategies to improve operational efficiency, aiming to reduce costs by 10% over the upcoming fiscal year[19] - The company reported a 5% increase in gross margin, attributed to improved operational efficiencies[41]

Financial Performance - Adjusted earnings per share reached USD 037[4] - Year-to-date cash flow from operations after tax amounted to USD 147 billion[4] - Adjusted operating income totaled USD 62 billion[4] - Net income was negative, at USD (02) billion[4] Operational Highlights - Oil and gas production experienced a 7% growth, driven by strong performance from Johan Sverdrup and Johan Castberg[5] - Renewables saw a 50% cost reduction[5] - Organic capex is projected at USD 13 billion[23] - Capital distribution is expected to be around USD 9 billion in 2025[3,23] Safety and Leakage - Serious Incident Frequency (SIF) for Q3 2025 was 03[8] - Total Recordable Injury Frequency (TRIF) for Q3 2025 was 21[10] - Oil and gas leakages with a rate above 01 kg/second numbered 4 in Q3 2025[12]

Core Insights - Adjusted operating income decreased by 10%, primarily due to lower oil prices, although this decline was partially mitigated by a 7% increase in production and higher gas prices in the U.S. [1]

Core Insights - Equinor reported a larger-than-expected decline of 9.9% in third-quarter profits due to falling oil and gas prices compared to the previous year [1] - The company maintained its outlook for production growth despite the profit decline [1] Financial Performance - The decline in profits was attributed to lower oil and gas prices [1] - The specific percentage decline in profits was 9.9% [1] Production Outlook - Equinor has kept its production growth outlook unchanged [1]

Core Points - Equinor will commence the fourth tranche of its share buy-back programme for 2025 on 30 October 2025, with a total value of up to USD 1,266 million, including USD 417.8 million for market purchases [1][2] - The share buy-back programme aims to reduce the issued share capital of the company, with all shares purchased in the fourth tranche to be cancelled at the annual general meeting in May 2026 [4][8] - The maximum number of shares that can be purchased in the fourth tranche is 84 million, with 50,677,690 shares remaining available for purchase at the start of this tranche [5] Share Buy-Back Programme Details - The share buy-back programme for 2025 was announced in February 2025, with a total value of up to USD 5 billion, structured into tranches based on market conditions and balance sheet strength [2] - A non-discretionary agreement will be established with a third party to execute share repurchases independently of Equinor [2] - Future tranches after the fourth will be decided quarterly by the board, in line with the company's dividend policy [3] State Participation and Share Cancellation - An agreement with the Norwegian State ensures that the State will vote for the cancellation of shares purchased in the market at the annual general meeting in May 2026, maintaining its ownership share at 67% [6] - The price for the State's shares will be based on the volume-weighted average price paid by Equinor for market purchases, plus interest compensation [6] Trading and Compliance - Shares will be purchased on the Oslo Stock Exchange and potentially other venues within the EEA, adhering to applicable safe harbour conditions and regulations [7] - The company is obligated to disclose this information under the EU Market Abuse Regulation and Norwegian Securities Trading Act [8]

Group 1 - The cash dividend amount for Equinor for Q3 2025 is set at 0.37 USD per share [1] - The last day to include rights for the dividend is 13 February 2026 [1] - The ex-date for Oslo Børs is 16 February 2026, and for the New York Stock Exchange, it is 17 February 2026 [1] - The record date for the dividend is 17 February 2026 [1] - The payment date for the dividend is scheduled for 27 February 2026 [1] - The date of approval for the dividend is 28 October 2025 [1] - The cash dividend per share in NOK will be communicated on 23 February 2026 [1] Group 2 - The information is published in accordance with the Euronext Oslo Børs Continuing Obligations [2] - The disclosure is subject to the requirements of Section 5-12 in the Norwegian Securities Trading Act [2]

Financial Performance - Equinor reported an adjusted operating income of USD 6.21 billion and an adjusted net income of USD 0.93 billion for Q3 2025, leading to adjusted earnings per share of USD 0.37 [1][9] - The net operating income was USD 5.27 billion, down from USD 6.91 billion in the same quarter last year, impacted by net impairments of USD 754 million [10] - Cash flows from operating activities before taxes were USD 9.10 billion, with cash flow from operations after taxes paid at USD 5.33 billion [13] Production and Operational Highlights - Total equity production reached 2,130 mboe per day, a 7% increase from 1,984 mboe per day in Q3 2024 [3] - Strong operational performance on the Norwegian continental shelf (NCS) with a 9% production growth, particularly from the Johan Sverdrup and Johan Castberg fields [4][7] - The US segment saw a 29% increase in oil and gas production due to acquisitions and increased offshore production [5] Strategic Developments - Production commenced from the Bacalhau field in Brazil, the largest international offshore field developed by Equinor, expected to significantly contribute to earnings [2][16] - Successful exploration led to seven commercial discoveries on the NCS, enhancing Equinor's role as a reliable energy supplier to Europe [15] - The company decided to stop two early-phase electrification projects due to high abatement costs, while further developing the Grane-Balder energy project [18] Capital Distribution - A cash dividend of USD 0.37 per share was declared for Q3 2025, consistent with previous announcements [19] - The fourth tranche of the share buy-back program for 2025 will be up to USD 1.266 billion, completing a total capital distribution of around USD 9 billion for the year [20][21] Renewable Energy Contributions - Total power generation was 1.37 TWh, with the renewable portfolio contributing 0.91 TWh, a 34% increase year-over-year [8] - The company completed 18 offshore exploration wells on the NCS, resulting in seven commercial discoveries [8]

Core Insights - Brazil's state-run oil firm Petrobras and Norway's Equinor emerged as significant winners in an auction for blocks in Brazil's pre-salt area, each acquiring one block and collaborating to explore a third block [1] Company Summary - Petrobras successfully acquired one block in the pre-salt area, indicating its continued investment and strategic focus on expanding its operations in this lucrative region [1] - Equinor also secured one block, showcasing its commitment to exploring opportunities in Brazil's oil sector [1] - The partnership between Petrobras and Equinor for a third block highlights a collaborative approach to exploration, potentially enhancing operational efficiencies and resource sharing [1] Industry Summary - The auction results reflect ongoing interest and investment in Brazil's pre-salt oil reserves, which are known for their significant production potential [1] - The involvement of both a state-run company and an international player like Equinor underscores the attractiveness of Brazil's oil sector to foreign investors [1]

Core Insights - Equinor and partners have officially commenced production at the Bacalhau oil field in Brazil, marking a significant milestone for the company's largest deepwater development project globally [1] - The Bacalhau project has recoverable reserves exceeding 1 billion barrels of oil equivalent, with a peak production capacity of 220,000 barrels per day [1] - The project is expected to support approximately 50,000 jobs over its 30-year lifecycle and provide long-term economic benefits to Brazil [2] Group 1 - The Bacalhau oil field is located in the Santos Basin, with production starting on October 15 at 22:56 (Rio time) [1] - The project is a joint operation involving Equinor, ExxonMobil Brazil, Petrogal Brazil, and the Brazilian National Petroleum Agency (PPSA) [1] - Equinor's CEO highlighted that Bacalhau represents a new generation of oil and gas projects that combine scale, cost-effectiveness, and low carbon intensity [1] Group 2 - The Bacalhau oil field is situated at a water depth exceeding 2,000 meters and utilizes the most advanced Floating Production Storage and Offloading (FPSO) technology [1] - The FPSO, constructed and operated by MODEC, measures 370 meters in length and 64 meters in width, featuring combined cycle gas turbine technology to reduce carbon emissions [1] - Equinor anticipates that the carbon emissions per barrel of oil equivalent from this project will be approximately 9 kilograms, setting a new low for offshore operations [1]