Equinor Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Equinor (OB:EQNR) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$25.5b (up 11% from 2Q 2023).
• Net income: US$1.86b (up 2.0% from 2Q 2023).
• Profit margin: 7.3% (down from 8.0% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.65 (up from US$0.60 in 2Q 2023).

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

Equinor Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) missed analyst estimates by 12%.

Looking ahead, revenue is expected to fall by 6.8% p.a. on average during the next 3 years compared to a 6.2% decline forecast for the Oil and Gas industry in Norway.

Performance of the Norwegian Oil and Gas industry.

The company's shares are down 3.0% from a week ago.

Risk Analysis

Before you take the next step you should know about the 3 warning signs for Equinor (1 is a bit unpleasant!) that we have uncovered.

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