OSL$EQNR
Equinor ASA · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
Equinor reported strong Q1 2025 results driven by higher gas prices and robust production.
Equinor delivered solid financial results in Q1 2025, with increased operating income and strong cash flow, supported by higher realized gas prices and the start-up of key fields in Norway.
- Net income reached $2.63 billion with adjusted EPS of $0.66.
- Revenue totaled $29.92 billion, driven by strong gas and crude sales.
- Production start-up at Johan Castberg and Halten East contributed to operational growth.
- Empire Wind 1 project faced an unexpected halt order from US authorities, creating uncertainty.
Headline financials
Revenue & EPS history
Equinor · Revenue · Quarterly
$29.9B
Forward guidance
Equinor expects continued growth in oil & gas production and disciplined capital spending in 2025, though uncertainties remain due to geopolitical and regulatory risks.
Tailwinds
- Organic capex estimated at $13 billion for 2025
- Production guidance points to 4% growth vs. 2024
- Robust financial position with net debt at 6.9%
- Strong cash flow outlook supported by high gas prices
- Capital distribution of up to $9 billion expected
Headwinds
- Empire Wind 1 halted by US authorities, increasing project risk
- Geopolitical tensions and trade policy shifts could impact demand
- Higher maintenance activity to reduce output by 30 mboe/d
- Lower liquids prices and natural field decline impact revenue
- Regulatory uncertainty in renewables sector
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2025
-0.1%
Avg return
Earnings day
+18.8%
Avg return
5 days after
+21.9%
Avg return
30 days after
52%
22 / 42 earnings
Positive
+9.4%
Q1 2023
Best reaction
-9.7%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q3 2026 | -0.3% | -1.3% | — | |
| Q1 2026 | +3.2% | +737.0% | +753.7% | |
| Q4 2025 | +0.0% | +5.0% | +27.5% | |
| Q2 2025 | -2.4% | +1.9% | -1.7% | |
| Q1 2025 | +0.8% | +1.5% | +4.5% | |
| Q4 2024 | -6.9% | -0.9% | -6.5% | |
| Q2 2024 | -0.7% | -0.8% | +3.3% | |
| Q1 2024 | +2.2% | -1.9% | +4.6% | |
| Q4 2023 | -9.7% | -9.7% | -10.1% | |
| Q3 2023 | +2.3% | +0.8% | -0.2% | |
| Q2 2023 | -4.4% | -2.4% | -4.5% | |
| Q1 2023 | +9.4% | +9.1% | -0.4% | |
| Q4 2022 | +8.2% | +11.9% | +1.7% | |
| Q3 2022 | +1.1% | +3.0% | +2.6% | |
| Q2 2022 | +2.5% | +4.1% | +14.6% | |
| Q1 2022 | +0.3% | -6.4% | +6.9% | |
| Q4 2021 | +4.5% | +6.3% | +11.2% | |
| Q3 2021 | -7.5% | -6.4% | -11.7% | |
| Q2 2021 | +0.4% | -0.3% | +9.4% | |
| Q1 2021 | -3.5% | -2.9% | +4.3% | |
| Q4 2020 | -3.1% | -2.6% | +12.1% | |
| Q3 2020 | -1.0% | +1.3% | +26.2% | |
| Q2 2020 | +1.6% | +1.6% | +4.0% | |
| Q1 2020 | +7.1% | +6.1% | +29.9% | |
| Q4 2019 | -7.1% | -7.4% | -20.6% | |
| Q2 2019 | -3.5% | -1.3% | +0.8% | |
| Q3 2019 | +0.4% | -1.3% | +0.8% | |
| Q1 2019 | -0.8% | -1.9% | -11.6% | |
| Q4 2018 | -3.8% | -4.9% | -7.5% | |
| Q3 2018 | +2.5% | +2.2% | -8.5% | |
| Q2 2018 | -1.3% | +0.4% | -1.7% | |
| Q1 2018 | +2.5% | +1.0% | -0.6% | |
| Q4 2017 | -3.4% | -2.4% | +1.9% | |
| Q3 2017 | -1.8% | -0.7% | -0.3% | |
| Q2 2017 | +4.1% | +4.3% | +4.8% | |
| Q1 2017 | +4.6% | +4.6% | +5.4% | |
| Q4 2016 | -4.7% | -4.7% | -9.9% | |
| Q3 2016 | +1.2% | -1.2% | +3.1% | |
| Q2 2016 | -4.9% | -8.6% | -4.2% | |
| Q1 2016 | +4.4% | — | — | |
| Q4 2015 | +6.1% | — | — | |
| Q3 2015 | -1.7% | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q4 2010 | — | — | — |
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