Equinor ASA Files Q2 2024 Financial Report

TL;DR

Equinor ASA dropped its Q2 2024 earnings report on 7/24/24.

AI Summary

Equinor ASA filed its second quarter 2024 report on July 24, 2024. The report details the company's financial performance for the period ending June 30, 2024. Equinor ASA, formerly Statoil ASA, is an energy and transportation company based in Stavanger, Norway.

Why It Matters

This filing provides investors with the latest financial results and operational updates for Equinor ASA, a major player in the energy sector.

Risk Assessment

Risk Level: low — This is a routine financial filing providing an update on the company's performance.

Key Players & Entities

• Equinor ASA (company) — Filer of the report
• Statoil ASA (company) — Former name of Equinor ASA
• 20240630 (date) — End of reporting period
• 20240724 (date) — Filing date

FAQ

Filing Documents

• eqnr2q24_6k.htm (6-K) — 1274KB
• fsrq22024p2i0.jpg (GRAPHIC) — 11KB
• eqnr1q24_6k.pdf (6-K) — 6364KB
• 0001140625-24-000088.txt ( ) — 10057KB

From the Filing

SECOND QUARTER 2024 REPORT fsrq22024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of July 2024 Commission File Number 1-15200 Equinor ASA (Translation of registrant's name into English) FORUSBEEN 50, N-4035, STAVANGER, NORWAY (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F X Form 40-F This Report on Form 6-K contains a report of the second quarter 2024 results of Equinor ASA. Equinor second quarter 2024 2 Q2 Key figures Always safe High value Low carbon 0.3 7.66 7.48 6.3 SIF USD billion USD billion kg/boe Serious incident frequency (per million hours worked) Net operating income Adjusted operating income* CO upstream intensity. Scope 1 CO emissions, Equinor operated, 100% basis for the first half of 2024 2.2 1.90 0.84 5.6 TRIF USD billion USD million tonnes CO2e Total recordable incident frequency (per million hours worked) Cash flow from operations after taxes paid* Adjusted earnings per share* Absolute scope 1+2 GHG emissions for the first half of 2024 9 0.70 6 655 Oil and gas leakages USD per share USD billion GWh with rate above 0.1 kg/ second during the past 12 months Announced dividend per share (ordinary + extraordinary) Share buy- back programme for 2024 Renewable power generation Equinor share Equinor second quarter 2024 3 Equinor second quarter 2024 results Equinor delivered adjusted operating income* of USD 7.48 billion and USD 2.15 billion after tax in the second quarter of 2024. Equinor reported net operating income of USD 7.66 billion and net income at USD 1.87 billion. Adjusted net income* was USD 2.42 billion, leading to adjusted earnings per share* of USD 0.84. Financial and operational performance - Continued strong operational performance - Solid financial results - Cash flow impacted by tax payments in Norway and capital distribution Strategic progress - New fields on stream on the NCS - Continued high grading of oil and gas portfolio - Three new CO2 license awards in Norway and Denmark Capital distribution - Second quarter ordinary cash dividend of USD 0.35 per share, extraordinary cash dividend of USD 0.35 per share and third tranche of share buy-back of up to USD 1.6 billion - Maintain expected total capital distribution for 2024 of around USD 14 billion Anders Opedal, President and CEO of Equinor ASA: "Our operational performance continued to be strong through the quarter and we delivered 3% production growth. This secured solid financial results. We maintain a competitive capital distribution, expecting to deliver a total of 14 billion dollars to our shareholders in 2024." "Field developments and high production contributes to energy security for Europe. To unlock further long-term value creation, we continue to optimise our portfolio. We also progressed our renewables projects and accessed three new licences for CO2 storage, to build a profitable business for a future low carbon energy system." Financial information Quarters Change First half (unaudited, in USD million) Q2 2024 Q1 2024 Q2 2023 Q2 on Q2 2024 2023 Change Net operating income/(loss) 7,656 7,631 7,051 9% 15,287 19,569 (22%) Net income/(loss) 1,872 2,672 1,829 2% 4,545 6,795 (33%) Basic earnings per share (USD) 0.65 0.91 0.60 9% 1.56 2.20 (29%) Adjusted operating income* 7,482 7,533 7,799 1) (4%) 15,015 19,715 1) (24%) Adjusted net income* 2,417 2,836 2,706 (11%) 5,253 6,570 (20%) Adjusted earnings per share* (USD) 0.84 0.96 0.89 (5%) 1.81 2.13 (15%) Cash flows provided by operating activities 1,611 9,021 1,857 (13%) 10,632 16,728 (36%) Cash flow from operations after taxes paid* 1,898 5,840 (356) >(100%) 7,737 9,360 (17%) Net cash flow* (4,222) 8 (10,758) 61% (4,214) (6,558) 36% Operational information Group average liquids price (USD/bbl) [1] 77.6 76.0 70.3 10% 76.8 71.9 7% Total equity liquids and gas production (mboe per day) [4] 2,048 2,164 1,994 3% 2,106 2,062 2% Total power generation (GWh) Equinor share 1,083 1,277 947 14% 2,360 2,110 12% Renewable power generation (GWh) Equinor share 655 774 345 90% 1,429 869 64% * For items marked with an asterisk throughout this report, see Use and reconciliation of non-GAAP financial measures in the Supplementary disclosures 1) Restated due to amended principles for over-/underlift'. For further information see Amended principles for Adjusted operating income in the section 'Use and reconciliation of non-GAAP financial measures' in the Supplementary disclosures. Equinor second quarter 2024 4 Key figures by segment Adjusted operating income*

View Full Filing

View this 6-K filing on SEC EDGAR