Equinor ASA Files Q3 2024 Report

TL;DR

Equinor ASA dropped its Q3 2024 earnings report. Check the numbers.

AI Summary

Equinor ASA filed its Third Quarter 2024 Report on October 24, 2024. The report details the company's financial performance for the quarter ending September 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 quarterly results, not indicating new or elevated risks.

Key Players & Entities

• Equinor ASA (company) — Filer of the report
• Statoil ASA (company) — Former name of Equinor ASA
• 20240930 (date) — End of the reporting period
• 20241024 (date) — Filing date

FAQ

Filing Documents

• eqnr3q24_6k.htm (6-K) — 1290KB
• eqnr3q24_6k.pdf (6-K) — 9243KB
• fsrq32024p2i0.jpg (GRAPHIC) — 11KB
• 0001140625-24-000143.txt ( ) — 14037KB

From the Filing

THIRD QUARTER 2024 REPORT fsrq32024 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 October 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 third quarter 2024 results of Equinor ASA. Equinor third quarter 2024 2 Q3 Key figures Always safe High value Low carbon 0.3 6.91 6.89 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 nine months of 2024 2.4 6.25 0.79 8.2 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 nine months of 2024 7 0.70 6 677 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 third quarter 2024 3 Equinor third quarter 2024 results Equinor delivered adjusted operating income* of USD 6.89 billion and USD 2.04 billion after tax in the third quarter of 2024. Equinor reported net operating income of USD 6.91 billion and net income at USD 2.29 billion. Adjusted net income* was USD 2.19 billion, leading to adjusted earnings per share* of USD 0.79. Financial and operational performance - Solid financial results - Effective execution of extensive turnaround programme - Strong cash flow from operations Strategic progress - All-time high production from the Troll field in the gas year - Northern Lights facility completed and ready to receive CO 2 - Acquired a 9.8 percent stake in rsted in October Capital distribution - Third quarter ordinary cash dividend of USD 0.35 per share, extraordinary cash dividend of USD 0.35 per share and fourth tranche of share buy-back of up to USD 1.6 billion - Total capital distribution for 2024 in line with announced level of around USD 14 billion Anders Opedal, President and CEO of Equinor ASA: "With solid operational performance and results, we are well on track to deliver strong cashflow from operations in line with what we said at the capital markets update in February." "Over time, we have upgraded the capacity in the gas value chain. This has contributed to an all-time high production from the Troll field in the gas year. In the quarter, the Johan Sverdrup field delivered a production record of more than 756 000 barrels of oil in one day and reached the milestone of one billion barrels produced since the start-up five years ago. This strengthens our position to deliver safe and reliable energy to Europe." "We continue to invest in renewables and develop low carbon value chains. In the quarter, the world's first commercial storage facility, Northern Lights, was completed and is now ready to receive CO 2 from customers." Financial information Quarters Change First nine months (unaudited, in USD million) Q3 2024 Q2 2024 Q3 2023 Q3 on Q3 2024 2023 Change Net operating income/(loss) 6,905 7,656 7,453 (7%) 22,192 27,022 (18%) Net income/(loss) 2,285 1,872 2,501 (9%) 6,830 9,296 (27%) Basic earnings per share (USD) 0.83 0.65 0.84 (2%) 2.39 3.05 (22%) Adjusted operating income* 6,887 7,482 7,930 1) (13%) 21,902 27,645 1) (21%) Adjusted net income* 2,191 2,417 2,907 (25%) 7,444 9,476 (21%) Adjusted earnings per share* (USD) 0.79 0.84 0.98 (19%) 2.61 3.11 (16%) Cash flows provided by operating activities 7,057 1,611 5,236 35% 17,689 21,965 (19%) Cash flow from operations after taxes paid* 6,247 1,898 7,594 (18%) 13,985 16,953 (18%) Net cash flow* (3,422) (4,222) 1,479 N/A (7,636) (5,079) (50%) Operational information Group average liquids price (USD/bbl) [1] 74.0 77.6 80.3 (8%) 75.9 74.8 2% Total equity liquids and gas production (mboe per day) [4] 1,984 2,048 2,007 (1%) 2,065 2,043 1% Total power generation (GWh) Equinor share 1,127 1,083 883 28% 3,487 2,993 17% Renewable power generation (GWh) Equinor share 677 655 373 82% 2,106 1,242 70% * For items marked with an asterisk throughout this report, see Use and reconciliation of non-GAAP financial measures in the Supplementary disclosures Equinor third quarter

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View this 6-K filing on SEC EDGAR