Equinor Earnings Expected to Decline on Lower Gas Prices -- Earnings Preview

Dow Jones04-24

By Dominic Chopping

Equinor is scheduled to report results for the first quarter on Thursday. Here's what to know:

EARNINGS FORECAST: According to a company-compiled consensus, adjusted earnings are expected to fall to $7.2 billion in the first quarter from $11.97 billion in the prior-year period.

NET PROFIT FORECAST: A FactSet poll of eight analysts has net profit falling to $2.15 billion from $4.97 billion.

REVENUE FORECAST: Revenue is expected to drop 10% to $26.11 billion, according to a FactSet consensus based on forecasts from 12 analysts.

Shares have slipped 1.6% over the last 12 months.

WHAT TO WATCH:

--Earnings are expected to fall, dragged by a decline in gas prices during the quarter and a lower contribution from its mid- and downstream business, according to Jefferies analysts.

--The key question for investors remains what the investment case for Equinor looks like in a more normalized European gas-price environment, according to analysts at RBC Capital Markets. "As it relates to 1Q, we viewed the company's trading update earlier this month as slightly better than our forecasts," they said. Commentary around the Johan Sverdrup oil field in the North Sea will be keenly watched, the analysts added.

--The Norwegian energy major has guided for organic capital expenditure of around $13 billion in 2024, with stable oil and gas production and a doubling of annual power production from renewable sources compared to 2023.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

April 24, 2024 07:44 ET (11:44 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Here's what to know: \n</p>\n<pre>\n \n</pre>\n<p>\n  EARNINGS FORECAST: According to a company-compiled consensus,  adjusted earnings are expected to fall to $7.2 billion in the first quarter from $11.97 billion in the prior-year period. \n</p>\n<pre>\n \n</pre>\n<p>\n  NET PROFIT FORECAST: A FactSet poll of eight analysts has net profit falling to $2.15 billion from $4.97 billion. \n</p>\n<pre>\n \n</pre>\n<p>\n  REVENUE FORECAST: Revenue is expected to drop 10% to $26.11 billion, according to a FactSet consensus based on forecasts from 12 analysts. \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares have slipped 1.6% over the last 12 months. \n</p>\n<pre>\n \n</pre>\n<p>\n  WHAT TO WATCH: \n</p>\n<pre>\n \n</pre>\n<p>\n  --Earnings are expected to fall, dragged by a decline in gas prices during the quarter and a lower contribution from its mid- and downstream business, according to Jefferies analysts. \n</p>\n<p>\n  --The key question for investors remains what the investment case for Equinor looks like in a more normalized European gas-price environment, according to analysts at RBC Capital Markets. \"As it relates to 1Q, we viewed the company's trading update earlier this month as slightly better than our forecasts,\"  they said. 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Here's what to know: \n\n\n \n\n\n  EARNINGS FORECAST: According to a company-compiled consensus,  ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EQNR","symbol_name":"Equinor ASA","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429432767","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429432767","pubTimestamp":1713959040,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Equinor is scheduled to report results for the first quarter on Thursday. Here's what to know:. 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Here's what to know: \n\n\n \n\n\n  EARNINGS FORECAST: According to a company-compiled consensus,  adjusted earnings are expected to fall to $7.2 billion in the first quarter from $11.97 billion in the prior-year period. \n\n\n \n\n\n  NET PROFIT FORECAST: A FactSet poll of eight analysts has net profit falling to $2.15 billion from $4.97 billion. \n\n\n \n\n\n  REVENUE FORECAST: Revenue is expected to drop 10% to $26.11 billion, according to a FactSet consensus based on forecasts from 12 analysts. \n\n\n \n\n\n  Shares have slipped 1.6% over the last 12 months. \n\n\n \n\n\n  WHAT TO WATCH: \n\n\n \n\n\n  --Earnings are expected to fall, dragged by a decline in gas prices during the quarter and a lower contribution from its mid- and downstream business, according to Jefferies analysts. \n\n\n  --The key question for investors remains what the investment case for Equinor looks like in a more normalized European gas-price environment, according to analysts at RBC Capital Markets. \"As it relates to 1Q, we viewed the company's trading update earlier this month as slightly better than our forecasts,\"  they said. 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