adj. EBIT of USD 6.5bn is spot on cons.adj. operating income after tax is 5% below cons. on higher P&L taxUSD ~0.5bn deviation vs. cons. on FCF, mainly due to higher capex2025 guidance unchanged (production, capex, shareholder distributions)US offshore wind impairments of USD 955m (above expectations)In absence of positive surprises, and given high impairments, we expect EQNR to slightly underperform peers today

23 Jul 2025
Arctic FLASH: Equinor - Adj. Q2 largely in line, but high US onshore wind impairments cast a shadow

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Arctic FLASH: Equinor - Adj. Q2 largely in line, but high US onshore wind impairments cast a shadow
- Published:
23 Jul 2025 -
Author:
Daniel Stenslet -
Pages:
11 -
adj. EBIT of USD 6.5bn is spot on cons.adj. operating income after tax is 5% below cons. on higher P&L taxUSD ~0.5bn deviation vs. cons. on FCF, mainly due to higher capex2025 guidance unchanged (production, capex, shareholder distributions)US offshore wind impairments of USD 955m (above expectations)In absence of positive surprises, and given high impairments, we expect EQNR to slightly underperform peers today