OSL$EQNR
Equinor ASA · Q2 2026 earnings
Q2 2026 earnings · · Investor relations
Briefing
Equinor ASA reported strong Q2 2026 results with net income of USD 4.84 billion, driven by higher prices and production growth.
Equinor delivered adjusted operating income of USD 11.48 billion and net income of USD 4.84 billion for the second quarter of 2026. Total revenues reached USD 35.18 billion, supported by higher liquids and European gas prices along with 3% production growth to 2,165 mboe per day. Cash flow from operations after taxes paid was USD 7.68 billion, with a dividend of USD 0.39 per share declared and an expanded USD 3 billion share buyback program for the year.
- Adjusted operating income of USD 11.48 billion and adjusted EPS of USD 1.33, up significantly year-over-year.
- Net operating income rose to USD 12.99 billion from USD 5.72 billion in Q2 2025, aided by asset sales and derivative effects.
- Equity production increased 3% to 2,165 mboe/day; renewable power generation up 11% to 0.91 TWh.
- Net debt to capital employed adjusted at 10.4%; third tranche of USD 1.125 billion share buyback initiated.
Headline financials
Revenue & EPS history
Equinor · Revenue · Quarterly
$35.2B
Forward guidance
Continued focus on production growth, project execution, and capital returns with expanded buyback program.
Tailwinds
- Strong production momentum from new fields on NCS and internationally.
- Expanded share buyback to up to USD 3 billion for 2026.
- Progress on strategic projects including tie-backs and Angola FID.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports
-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 | — | — | — | |
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| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
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| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
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| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q4 2010 | — | — | — |
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