Equinor First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Equinor (OB:EQNR) First Quarter 2024 Results

Key Financial Results

• Revenue: US$25.1b (down 14% from 1Q 2023).
• Net income: US$2.67b (down 46% from 1Q 2023).
• Profit margin: 11% (down from 17% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.91 (down from US$1.59 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Equinor EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) exceeded analyst estimates by 26%.

Looking ahead, revenue is expected to fall by 3.8% p.a. on average during the next 3 years compared to a 4.6% decline forecast for the Oil and Gas industry in Norway.

Performance of the Norwegian Oil and Gas industry.

The company's shares are up 1.5% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 3 warning signs for Equinor (of which 1 is concerning!) you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.