Equinor: third-quarter results beat estimates
(CercleFinance.com) - Norway's Equinor posted better-than-expected quarterly results on Thursday, helped by its mid- and downstream activities and a lower effective tax rate.
The oil and gas company reported adjusted earnings after tax of 1.08 billion dollars, a far cry from the 1.99 billion dollars in the same period last year, due to lower prices for both liquids and gas, alhtough above expectations of 1.01 billion dollars.
Cash flow from operating activities fell to 16.6 billion dollars over the first nine months of 2019 compared to 20.4 billion dollars in the same period of 2018.
Equinor delivered total production of 1,909 million barrel of oil equivalent per day (boed) in the third quarter, down 8% year-on-year.
The company has decided to pay dividend of 0.26 dollar per share for the quarter, and has launched a share buy-back program of up to 5 billion dollars through to end-2022.
The Equinor stock is currently up 1.5% in Oslo.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The oil and gas company reported adjusted earnings after tax of 1.08 billion dollars, a far cry from the 1.99 billion dollars in the same period last year, due to lower prices for both liquids and gas, alhtough above expectations of 1.01 billion dollars.
Cash flow from operating activities fell to 16.6 billion dollars over the first nine months of 2019 compared to 20.4 billion dollars in the same period of 2018.
Equinor delivered total production of 1,909 million barrel of oil equivalent per day (boed) in the third quarter, down 8% year-on-year.
The company has decided to pay dividend of 0.26 dollar per share for the quarter, and has launched a share buy-back program of up to 5 billion dollars through to end-2022.
The Equinor stock is currently up 1.5% in Oslo.
Copyright (c) 2019 CercleFinance.com. All rights reserved.