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Equinor ASA EQNR

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Morningstar’s Analysis

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Equinor Achieves Stellar Q3 2021 Results on Higher Oil and Gas Prices; Repurchases Amount Trebled

Allen Good, CFA Sector Strategist

Analyst Note

| Allen Good, CFA |

Equinor’s third-quarter results showed marked improvements in all segments, except for renewables. A surge in oil and gas prices lifted earnings and strengthened cash flow generation. For the quarter, adjusted after-tax earnings were $2.8 billion compared with $271 million the year before. The strong results prompted an increase in its next tranche of repurchases to $1 billion from $300 million.

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Company Profile

Business Description

Equinor is a Norway-based integrated oil and gas company. It has been publicly listed since 2001, but the government retains a 67% stake. Operating primarily on the Norwegian Continental Shelf, the firm produced 2.1 million barrels of oil equivalent per day in 2020 (54% oil) and ended the year with 5.3 billion barrels of proven reserves (51% oil). Operations also include offshore wind, solar, oil refineries and natural gas processing, marketing, and trading.

Contact
Forusbeen 50
Stavanger, N-4035, Norway
T +47 51990000
Sector Energy
Industry Oil & Gas Integrated
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 21,245